Universities’ Influence on the Economy Grows
Thursday 10 July 2008
Survey reveals that higher education's contribution to the economy continued to grow in 2006-07, reaching record levels.
The Higher Education - Business and Community Interaction (HE-BCI) survey - published 10/07/08 - reveals that higher education's contribution to the economy continued to grow in 2006-07, reaching record levels. “UK higher education institutions (HEIs) received £2.64 billion from business and community interaction in 2006-07. This is a 17 per cent rise from the last survey (for 2005-06).”
The survey found that universities and colleges “increasingly play an important part in keeping the UK connected to the global economy and attracting investment and talent to the country. Through interacting with business and the community they help turn knowledge into new companies, products and services. They also deliver professional training to improve skills, provide consultancy to solve problems and undertake projects to tackle social challenges.”
In 2006-07 UK HEIs' income from collaborative research was nearly £670m – 12% more than the previous year. Income from consultancy and training also rose significantly.
Further information:
Business and Community Interaction survey