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Major increase in funding for University in its work with business puts Reading on par with Oxbridge – University of Reading

The University of Reading is delighted to announce that its collaborative work with business has been recognised by a major increase in funding.

The most recent round of the Higher Education Innovation Fund (HEIF) from the Higher Education Funding Council for England (Hefce) has almost doubled the University of Reading's funding for its multi-stranded relationship with local business for 2010/11, to £1.9 million. This reflects the significant amount of work undertaken by the University in developing its strategy to engage with business and puts the university on a par with universities such as Oxford and Cambridge.

This week, a special report by the Department for Innovation, Universities and Skills and the Higher Education Funding Council for England* (10 July) has also identified the huge contribution played by higher education institutions to the economy. It includes detail of the breadth of the University of Reading's role in working with business, from collaborative research to skills training.

The University, one of the top research-intensive universities in Britain, has an impressive portfolio of research, much of which takes place in tandem with local business. Collaborative research with business, the report states, has increased from £5.5 million (05/06) to nearly £6 million (06/07), with a corresponding increase in the number of contracts.

Engagement with business, through the provision of facilities and technical services, has more than doubled to over £2 million. A significant contributor to this is the University's Science & Technology Centre on the Whiteknights campus which has seen a significant increase in the take up of space by high-tech businesses. The University now incubates close to 40 high technology and high growth-potential, early stage companies on campus.

David Gillham, Director Research and Enterprise Services at the University of Reading, said: "A key strength of our university is the way in which we interact with business and the community in the Thames Valley and beyond. This new round of the Higher Education Investment Fund is recognition of the work we have done with business in recent years, from collaborative research to our successful Knowledge Transfer Partnership scheme. Our portfolio of services offered to business helps turn knowledge into new companies, products and services. With this new tranche of money, there will be greater opportunities for us to share our expertise and for local businesses to work with us."

One of the key ways in which the University contributes to the local economy is through a major programme of skills training. The total value of all courses offered to the local community, including continuing education courses, has risen from £2.1 million to nearly £4 million. David Gillham continued: "We are delighted that we have been able to double the value of the professional and personal development training we offer to both industry and the public sector through Continuing Professional Development courses and an extensive Continuing Education Programme."

The University also offers a range of opportunities to engage with the work of its academic community through public lectures and access to the collections at its three museums. Attendees at the university's public lecture programme rose from 4,432 to over 5000 in 2006/07. The number of people through the doors of the museums has also risen to over 20,000 a year.

Commenting on the Hefce/DIUS report, Science and Innovation Minister, Ian Pearson, said: "Universities are shifting up a gear when it comes to working with business and making an economic impact. &ellipse;..Over the next ten years the UK will increasingly compete with other countries in terms of the ability of our universities to work with business to provide a global edge&ellipse;.Companies large and small can improve their performance by drawing on the knowledge and skills within higher education."

David Gillham continued: "This is a really exciting time for the University of Reading as we develop our collaboration with business. Together with our plans for a Science and Innovation Park, we are enhancing our reputation as the partner of choice for cutting-edge science and technology-based businesses."

ENDS

Further information from Alex Brannen, Senior Press Officer, on 0118 378 7388

Notes to editors:

*The Higher Education – Business and Community Interaction (HE-BCI) survey