You are in :

15 June 2004

£185 million will enable universities to increase prosperity through knowledge transfer

The Government today announced the largest funding awards yet to be given to support knowledge transfer from universities to business and the wider community, as part of its drive to boost the UK’s innovation performance and productivity.

The scheme is a major part of the Government’s strategy to increase prosperity and provide high quality job opportunities.

A total of 124 awards – worth more than £185 million over the next two years (academic years 2004-06) – have been made under the second round of funding for the Higher Education Innovation Fund (HEIF2). The awards will help English universities and colleges across the country to carry out a range of knowledge transfer-related activities. These include:

  • promoting networking between universities and businesses
  • developing the infrastructure and capability to transfer knowledge from universities into business and the community
  • seed funding to provide venture capital for early stage exploitation of ideas
  • contributing specialised knowledge to regeneration programmes
  • a network of 22 new centres for knowledge exchange activity, with a wide geographic spread, that will be exemplars of best practice in skills development, training and how to engage with small and medium-sized businesses
  • entrepreneurship training and continued professional development for students and academics.

A major feature of HEIF2 is collaboration between higher education institutions (HEIs): of the 124 awards, 46 are for collaborative partnerships involving more than 100 HEIs.

Announcing the funding awards Science and Innovation Minister Lord Sainsbury said:

"Our universities play a vital role in generating world-class knowledge and research and providing us with a highly qualified workforce. It is essential that they continue to develop and enhance their capability to work with business to turn new ideas and technology into prosperity and jobs.

"I am delighted that the fund will achieve its focus of supporting many existing successful projects as well as providing the means for more to be set up by a wider range of higher education institutions."

Alan Johnson, Minister for Lifelong Learning, Further and Higher Education said:

"It is vital that we continue to support innovation and growth in our regional economies which is why I am pleased that over 100 different higher education institutions across England will benefit from this new allocation of funds. I look forward to these institutions working with local business to exploit the latest research and technology and turning it into more jobs and greater productivity. The establishment of knowledge exchange centres will greatly enhance collaboration and ensure we benefit from high quality knowledge transfer".

Applications for funding made by HEIs were assessed in May this year by a senior Advisory Board chaired by the Director General of Research Councils Sir Keith O’Nions, and supported by the Chief Executive of the Higher Education Funding Council for England (HEFCE) Sir Howard Newby.

Sir Keith said:

"The increased funding available through HEIF2 will provide real opportunities for HEIs to strengthen their knowledge transfer capability. I am impressed by the high quality of successful projects and the excellent overall response from the sector to the call for proposals."

Sir Howard Newby, Chief Executive of HEFCE, said:

"We are pleased to announce these allocations under the second round of HEIF. Funding provided through HEIF2 will play an essential role in ensuring that the wealth of knowledge and expertise universities and colleges create and accumulate is applied for the economic and social benefit of all.

"HEFCE is fully committed to giving HEIs the additional flexibility to develop collaborative activities where they can be most effective. Today’s announcement is a major boost in support of the UK’s knowledge economy."

Notes

1.    Higher education institutions (HEIs) were invited to put forward proposals through a competitive bidding process. 183 applications for funding were received, totalling more than £307 million, which involved 133 HEIs.

2.    The HEIF2 awards are sponsored by the DTI, DfES and HEFCE.

3.    The Government has consolidated HEIF as a permanent third stream of funding for universities in England, alongside the funding they receive for (1) teaching and (2) research, to promote knowledge transfer. Scotland, Wales and Northern Ireland have their own separate arrangements for supporting knowledge transfer.

4.    The new consolidated HEIF, which is administered by HEFCE will incorporate funding for activities previously supported through the University Challenge fund (UC) and the Science Enterprise Challenge fund (SEC) formerly administered by the Office of Science and Technology.

5.    Funding for centres for knowledge exchange activity was announced in the Government’s White Paper "The future of higher education".

6.    A complete list of awards is available.