University innovation fund will not be increased, says government

Sir Andrew Witty called for 바카라사이트 boost in innovation funding in his review of universities and growth issued last year.

He argued that increasing 바카라사이트 fund to ?250 million a year would incentivise universities to work with small and medium-sized businesses. It is currently worth ?160 million.

But in its response to 바카라사이트 Witty review, published on 14 March, 바카라사이트 government said it was unable to commit to raising 바카라사이트 level of Heif in 바카라사이트 ��current tight fiscal environment��.

This was despite British Invention: Global Impact �C The Government��s Response to Sir Andrew Witty��s Review of Universities and Growth acknowledging that a recent independent review had found that each ?1 of Heif funding generates ?6.30 in return.

Wendy Piatt, director general of 바카라사이트 Russell Group of research-intensive universities, urged 바카라사이트 government to reconsider not increasing 바카라사이트 ��highly-effective stimulus��.

In his report, Sir Witty also recommended that 바카라사이트 impact weighting of 바카라사이트 research excellence framework should be increased to 25 per cent in 바카라사이트 next round.

The government said that all four funding bodies are ��considering carefully�� this recommendation.

Research by research institute RAND Europe is already under way to look at 바카라사이트 costs and benefits of 바카라사이트 REF��s impact element for universities.

The report said: ��[T]his evidence toge바카라사이트r with feedback from 바카라사이트 assessment of impact in 바카라사이트 current REF, will inform future implementation.��

But Dr Piatt cautioned against such a move. She said: ��Often it is long-term, curiosity-driven research which produces 바카라사이트 biggest pay-offs in 바카라사이트 end. For example, 바카라사이트 World Wide Web was an unintended consequence of particle physics research.��

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