We provide additional support for research that universities carry out with business and industry. The funding amounted to approximately £64 million in 2017-18.
The business support element encourages universities to collaborate with business and other non-academic organisations over research activity and to develop relationships with industry.
Institutions must attract money from industry to qualify for the funds. We allocate the money as a fixed sum which we allocate between institutions in proportion to their qualifying income.
Institutions report the income they receive from industry in their financial return to the Higher Education Statistics Agency.
For 2017-18, we will allocate a fixed pot of £64 million to institutions in proportion to a rolling four-year average of their business income.