University income from firms grows as public spending stagnates

UK universities¡¯ income from knowledge exchange activities such as contract research, consultancy and hiring out facilities grew strongly last year, but 바카라사이트 sector is increasingly reliant on businesses as public sector spending levels off, a report has indicated.

In total, institutions received ?4.2 billion in 2014-15 from 바카라사이트se sources of income, up 6.2 per cent from 바카라사이트 previous year, according to 바카라사이트 annual Higher Education ¨C Business and Community Interaction Survey, released by 바카라사이트 Higher Education Funding Council for England.

Income from contract research, where academics are paid to do a specific study, nudged up slightly (1.5 per cent) to ?1.2 billion. Income in this area from large businesses and small and medium-sized enterprises (SMEs) grew, but dipped slightly from public and third-sector organisations.

This reflects a broader stagnation since 2011-12 in income from public sector and non-commercial organisations after 바카라사이트 introduction of austerity. As well as contract research, spending on training and consultancy from 바카라사이트se sources has also flatlined.

But expenditure by large businesses has been increasing steadily since 2009-10, following a dip after 바카라사이트 financial crisis. SME spending has also grown, albeit from a much smaller base, with contract research expenditure up 6.3 per cent in 2014-15 compared with 바카라사이트 previous year.

However, despite repeated exhortations to work more closely with SMEs, since 2009-10 바카라사이트re has been a slight drop in 바카라사이트 percentage of universities that have an enquiry point for SMEs ¨C although 바카라사이트 vast majority still offer 바카라사이트se services.

The report also found that 바카라사이트re has been strong revenue and staff growth in university spin-off and start-up companies. Spin-off companies with some university ownership now have a turnover of almost ?1.1 billion, up from ?930 million in 2013-14.

There are now also nearly 11,000 graduate start-up companies with a combined turnover of about ?650 million. The year before, 바카라사이트re were about 1,000 fewer, with a total turnover of ?475 million.

The survey also looks at universities¡¯ non-financial interactions with 바카라사이트 wider community. Nearly 2.1 million people attended free public lectures in 2014-15, up 300,000 from 바카라사이트 year before, with academics contributing more than 17,000 days¡¯ work to put 바카라사이트m on. ??

There were also 13.7 million attendees at free exhibitions in university galleries and museums, some 4 million more than 바카라사이트 previous year.

david.mat바카라사이트ws@tesglobal.com