We know the UK has been punching above its weight and now ranks 5th in the Global Innovation rankings. The proportion of R&D funding contributed by industry in the UK is 15% higher than in the US. Over £40bn has been invested in UK universities over the past ten years by businesses and other organisations to find solutions to their business problems. Last year there were over 350,000 contracts between universities and businesses. And the spin-out race between the UK and US is neck and neck with UK investments in spin-outs beginning to edge ahead.
PraxisAuril and ARMA have submitted a joint response to UUK's consultation on the proposed KE Concordat.
PraxisAuril and ARMA have submitted a joint response to UUK's consultation on the proposed KE Concordat, building on our existing engagement with sector stakeholders including Research England, Innovate UK, NCUB, GuildHE, PraxisAuril, NCCPE and UUK in the development of the KE Framework overall.
The Collaboration Progress Monitor, NCUB's annual tracking of long-term trends in UK university-business collaboration, shows the number of interactions increased across the board. But a reduction in business investment in R&D for a third continuous year represents a challenge for increasing research and development funding to 2.4% of GDP. However, the UK’s continued success in attracting foreign investment is a positive reflection on the global strength of our research base.
Joe Marshall, CEO at NCUB, explains:
Today Research England is publishing report summarising how universities are working to deliver the Government's Industrial Strategy. This focusses on use of the additional funds provided by Government for Research England to allocate for knowledge exchange through Higher Education Innovation Funding (HEIF).