Magazine article The Times Higher Education Supplement : THE

More Buck for UK Knowledge Exchange Bang despite Austerity

Magazine article The Times Higher Education Supplement : THE

More Buck for UK Knowledge Exchange Bang despite Austerity

Article excerpt

The amount of money that UK universities earn from knowledge exchange rose by 7 per cent to just over Pounds 3.3 billion between 2009-10 and 2010-11, according to a report by the Higher Education Funding Council for England.

Hefce's analysis of the 11th annual Higher Education - Business and Community Interaction Survey, released on 26 July, found that income from contract research increased from Pounds 983 million to Pounds 1.05 billion.

Universities also made Pounds 606 million from providing continuing professional development and similar courses. Consultancy earned the academy Pounds 370 million, Pounds 8 million more than the previous year.

Just over Pounds 1.2 billion of the total came from public and third-sector organisations, a figure that has been rising steadily since 2003-04, the report shows.

Income from large businesses rose by 7 per cent to Pounds 629 million, although this was still below pre-recession levels.

Universities produced 268 formal spin-off companies, 5 fewer than in 2009- 10. The report also notes a decline in the number of patents granted, from 827 to 757. …

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