Business increases ties with higher education

The number of newly-formed companies with links to higher education is on the rise.

Minister for lifelong learning, further and higher education, Bill Rammell

The number of newly-created companies with links to higher education institutions (HEIs) has increased, according to new government research.

The Higher Education-Business and Community Interaction (HE-BCI) survey finds formal collaborative research between public funders and business has increased 12 per cent on last year to £600m.

The report finds income from intellectual property (IP) and consultancy also rising with total research-related income now valued at £1.2bn and the number of IP licences increasing by a quarter to 2,699.

Around a fifth (£7.8m) of HEI’s income from IP rights came from overseas in 2005-06.

There are currently 9,000 active patents held by UK higher education institutions.

Minister for lifelong learning, further and higher education, Bill Rammell, says the figures show the crucial contribution that universities and colleges are making to the economy.

‘Business and academia are forging strong ties, with collaborative research an important way of developing new technologies to help give the UK a leading edge in an increasingly competitive world,’ said Rammell.

Commercial businesses spent over £300m on contract research and a further £115m on consultancy in 2005-06, says Rammell.

‘The rise in bespoke training courses provided for businesses also highlights the key role these institutions are playing to boost workplace skills and tailor learning to business needs,’ he said.