Million Plus

Data released today (Thursday) on the interactions between universities and business shows the significant value placed on the knowledge and expertise of the UK’s publicly-funded universities. The Higher Education – Business and Community Interaction (HE-BCI) survey published by the Higher Education Funding Council for England (Hefce) reveals that the total knowledge exchange investment has risen by five per cent: from £3.4 billion in 2011-12 to £3.6 billion in 2012-13.

Pam Tatlow, Chief Executive of the university think-tank million+, said:

"Universities have worked hard to maintain collaborations with businesses during the economic downturn but many regions outside of London and the South East are yet to benefit from the upturn in the economy. The government could do more to support small businesses and universities by introducing new tax credits and vouchers and devolving Knowledge Transfer Partnership funding so that universities can respond more rapidly to local business needs."

"There is also a strong case to establish a new fund for translational research to support the consultancy and near market research which small companies often need to improve supply chains and product quality."

Ends

Notes to Editors

1. For more information or to arrange an interview please contact Vicki Robinson, Press & Communications Officer on 0207 717 1658 / 07527 336 795 or email press@millionplus.ac.uk.
2. million+ is a leading university think-tank. More information about million+ can be found at www.millionplus.ac.uk.
3. ‘Higher Education – Business and Community Interaction survey 2012-13’ (HEFCE 2014/10) will be available online.
4. ‘Knowledge exchange performance and the impact of HEIF in the English higher education sector’ is available online.