Evaluation of the effectiveness and role of HEFCE/OSI third stream funding: Report to HEFCE by PACEC and the Centre for Business Research, University of Cambridge

This report assesses how third stream funding has secured economic and social benefits, by embedding a culture and capacity within higher education institutions (HEIs) that supports knowledge exchange. 'Third stream' refers to knowledge-based interactions between HEIs and organisations in the private, public and voluntary sectors, and wider society. The report finds there has been considerable progress over the first 10 years of this funding.

Contents

Executive Summary

1. Introduction
2. Methodology
3. Third Stream Strategies: Building the Capacity and Capability to Engage
4. Achieving Culture Change in the HE Sector
5. Constraining Demand: Culture, Supply-side and Demand-side Factors
6. Participating in Knowledge Exchange
7. Outputs of Knowledge Exchange and the Impact of HEFCE Third Stream Funding
8. Wider Impacts of HEFCE Third Stream Funding on the HEI
9. Impacts on External Organisations

Appendix A Bibliography

Appendix B Acronyms

Appendix C Cost-benefit Balance Sheets for the Clusters

Appendix D Case Study HEIs, Stakeholders and Survey Characteristics

Appendix E HEI Clusters

Appendix F Academic Discipline Groups and Definitions

Summary

This report presents an assessment of the extent to which third stream funding by HEFCE and Department for Innovation, Universities and Skills has secured direct and indirect economic benefits, by embedding a culture and capacity within higher education institutions (HEIs) that supports the transfer and exchange of knowledge between HEIs, business and the wider community. The term 'third stream' refers to interactions between HEIs and external organisations in the private, public and voluntary sectors, and wider society.

The report finds there has been considerable progress over the first 10 years of funding specifically for third stream activity. There is strong evidence of additionality in terms of activity funded by the Higher Education Innovation Fund and progress by all HEIs in embedding knowledge transfer within their mission. Initial concerns about whether emphasis on third stream activity would impact negatively on traditional teaching and research roles have proven to be unfounded. Many synergies between knowledge exchange, teaching and research have been realised and there is greater recognition, by both academics and external organisations, of the value and benefits of working together on a diverse range of problems and initiatives.

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