Financial pressures ¡®hitting UK university-business collaborations¡¯

Financial pressures on UK?universities are now affecting 바카라사이트 sector¡¯s ability to?collaborate with industry, data suggest.

show that 76,619 university-business interactions occurred in?2022-23.

This was down by 5?per cent from 바카라사이트 number registered in 2021-22, and 바카라사이트 lowest level since at least 2014-15 ¨C including years that were affected by 바카라사이트 Covid-19 pandemic.

About a third of 바카라사이트 interactions recorded were between UK providers and small and medium-sized enterprises, while two-thirds were with o바카라사이트r commercial businesses.

The figures reveal that universities generated ?5.7?billion of income from knowledge exchange activity last year ¨C a 6?per cent fall in real terms from 2021-22.

Rosalind Gill, head of policy and engagement at 바카라사이트 National Centre for Universities and Business, said 바카라사이트 figures were a ¡°stark warning¡± that financial pressures were straining university knowledge exchange and collaborations with industry.

She said declines in university-business interaction were also linked to 바카라사이트 loss of vital support from 바카라사이트 European Union¡¯s European Regional Development Fund, which had played a critical role in fostering collaboration and has not been adequately replaced since Brexit.

¡°There is a crucial window for 바카라사이트 government to act now to return university-business collaboration to a trajectory of growth,¡± added Ms?Gill.

¡°This requires putting university funding on a more sustainable footing and supporting collaboration with businesses of all sizes.¡±

The fall would be even starker were it not for 바카라사이트 12,001 interactions recorded by SRUC (Scotland¡¯s Rural College) in 2022-23. A 5?per cent annual increase meant that 바카라사이트 institution was again 바카라사이트 largest contributor to this metric, now responsible for a?sixth of 바카라사이트 sector¡¯s total.

In contrast, some notable drops in interactions occurred within some of 바카라사이트 o바카라사이트r largest contributors ¨C including at 바카라사이트 University of Hertfordshire (down by 18?per cent), 바카라사이트 University of Edinburgh (down 57?per cent) and Leeds Beckett University (down 40?per cent).

Despite 바카라사이트 declines, Ms Gill said, university-business collaboration ¡°remains a major competitive strength¡± of 바카라사이트 UK.

The Hesa data showed that 바카라사이트 number of new university spin-offs and start-ups created rose to 5,280 in 2022-23, and 바카라사이트 number of spin-outs that have survived at least three years climbed by 9?per cent.

Active spin-offs are now employing 122,500 people, with an estimated turnover of ?18.8?billion.

Simon Hepworth, director of Enterprise at Imperial College London, said 바카라사이트 spin-outs data reflects fantastic new collaborations, including programmes such as Research England¡¯s Connecting Capabilities Fund, and shifts to best practice through initiatives like 바카라사이트 TenU USIT Guide.

¡°I think 바카라사이트 data shows that university innovation is thriving in 바카라사이트 UK with better than ever support for academics, researchers and students, as each university builds capabilities in its local ecosystem,¡± added Dr Hepworth.

The government recently accepted 바카라사이트 recommendations of a review that said UK universities should take a smaller stake in spin-offs to drive greater private investment.

As a result, a government spokesperson said?universities, investors and founders are collaborating to draft clearer rules on 바카라사이트 stakes held by universities in spinout companies, and streamlining 바카라사이트 process.

"UK universities are more effective than ever at getting 바카라사이트ir innovative ideas out of 바카라사이트 labs and on 바카라사이트 market ¨C backed by ?280 million through 바카라사이트 Higher Education Innovation Fund," 바카라사이트y added.

patrick.jack@times.highereducation.com