UK universities earned £4.2 billion from provision of services to businesses and collaborative research in the 2014-15 academic year, up from £3.9bn the previous year.
The latest Higher Education Business and Community Interaction Survey (2014 – 2015), published on 7 April by the Higher Education Statistics Agency
, looked at all publicly funded UK higher education institutions and their interactions with businesses and other organisations.
In 2014-15, the largest chunk of this income was from collaborative research involving public funding, which reached £1.26bn, up from £1.14bn in the previous year. This was a change in emphasis, as in 2013-14 universities gained most of their income from contract research. However, contract research earnings also increased between 2013-14 and 2014-15, from £1.2bn to £1.21bn.
Universities also upped their earnings from courses for business and the community by £35m to £715m, from regeneration and development programmes by almost £22m to £205m, and from intellectual property by £24m to £155m.
The analysis also includes information on the number of spinouts and start-up companies created by UK universities, and shows that the number of graduate start-up companies created in 2014-15 was 4,160, lower than the 4,581 companies started in 2013-14.
However, the total number of active firms with some involvement from a higher education provider in the UK was 13,045 in 2014-15, up from 11,856 in 2013-14.
The Higher Education Funding Council for England will publish its analysis of the data for England later in the year.
This article was posted in Research Professional.
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The Royal Academy of Engineering’s Enterprise Fellowship scheme supports outstanding entrepreneurial engineers, working at a UK university, to spin out a business by providing funding and an intensive, bespoke package of training and mentoring.
Prior experience of commercialisation activities is not essential, the desire and capability to succeed is more important and we will equip you with the necessary skills through a programme of training and mentoring.
The Fellowships provide £35,000 of salary support and £25,000 for the continued development of the innovation and associated spin-out company.
Applications close 7 September.
For more information on how to apply please visit www.raeng.org.uk/enterprisefellowships