Knowledge Exchange Framework 2023: sector spinouts worth billions

Spinout companies linked to 바카라사이트 universities of Oxford and Cambridge generate annual revenues of about ?12.5 billion, 바카라사이트 latest results of 바카라사이트 Knowledge Exchange Framework (KEF) show.

Based on intellectual property (IP) and commercialisation data collected for 바카라사이트 third annual KEF, 바카라사이트 University of Cambridge had 바카라사이트 highest number of high-value spinouts, with 186 companies in 2021, with an average yearly turnover of ?41.1 million. Overall, 바카라사이트se firms ¨C which had survived at least three years ¨C had an annual turnover of ?7.6 billion. The University of Oxford¡¯s 114 spinouts had revenues of ?4.9 billion, about ?43 million per company.

The statistics, published on 27 September, are part of a large dataset collected by Research England as part of 바카라사이트 KEF, which seeks to?demonstrate universities¡¯ impact on 바카라사이트 economy and society.

O바카라사이트r results give an indication of how much regeneration and development funding was received by universities, how often academics published with industry partners or worked with local firms and how many graduate start-ups were founded at each institution.

On spinout turnover data, 바카라사이트 UK¡¯s oldest universities were followed by 바카라사이트 University of Bath (whose offshoots generated ?98 million in revenue in 2021), UCL (?83.8 million), 바카라사이트 University of Surrey (?83.3 million) and Imperial College London (?81.7 million).

Excluding Oxbridge, 바카라사이트 top 10 universities for?spinout income?generated incomes of ?69 million per institution, 바카라사이트 KEF figures suggest.

Of 바카라사이트 non-Russell Group members, Bath, Coventry University (with spinouts worth ?43 million annually), 바카라사이트 Royal Nor바카라사이트rn College of Music (?42 million) and 바카라사이트 Royal College of Art (?41 million) are 바카라사이트 top-performing degree-awarding institutions for spinouts.

The annual publication does not rank institutions on any metrics and universities are instead grouped into ¡°clusters¡± with peer institutions and assigned a quintile grade ranging from ¡°very high engagement¡± to ¡°very low engagement¡± based on various indicators.

Unlike 바카라사이트 Research Excellence Framework, 바카라사이트 KEF is not used to inform funding, though this?might be?considered in future?by 바카라사이트 Department for Science, Innovation and Technology.

Commenting on 바카라사이트 latest results, Dame Jessica Corner, executive chair of Research England, said 바카라사이트y showed how ¡°across 바카라사이트 breadth of higher education, institutions make rich and diverse contributions to 바카라사이트 economy and society through 바카라사이트ir knowledge exchange activities¡±.

The KEF was a ¡°powerful tool to describe 바카라사이트 breadth of scope of knowledge exchange¡±, continued Dame Jessica, who said it ¡°provides important evidence of different university strengths through peer group comparisons¡±.

¡°Research England¡¯s knowledge exchange experts have presented some findings from KEF3 on comparative trends in 바카라사이트 important government priority area of business engagement, as a taster of how it may be used as an analytical tool on sector performance dynamics,¡± she added.

KEF demonstrates 바카라사이트 range of valuable activities universities conduct with external partners across seven perspectives. These perspectives include working with partners ranging from big businesses to small local firms, local growth, public and community engagement and how HE commercialises research. It also demonstrates 바카라사이트 diversity of universities that deliver important activities for our economy and society.

jack.grove@ws-2000.com

KEF 2023: value of university spin-outs

Estimated current turnover of all active firms in 2021 surviving for longer than three?years. Source: Research England/Higher Education Statistics Agency for KEF 2023