University And Business Co-operation Having Positive Impact On Economy

Employment and Learning Minister Dr Stephen Farry said that co-operation between Northern Ireland’s universities and businesses has a positive impact on the local economy, as he launched the 2014 Higher Education Business and Community Interaction Survey (HE-BCI) Northern Ireland summary report.

The report reveals that Northern Ireland Higher Education Institutions (HEIs) received income of £92 million from business and community interaction in 2012/13.

Minister Farry said: "Higher education is a key economic driver for the Northern Ireland economy. As the economy begins to grow again, the higher education sector has the potential to underpin recovery and drive future growth through its collaborative work with local businesses.

"This report provides evidence of the growing relationship between our universities and the business sector. There is an increasing awareness among commercial businesses, the public sector and community organisations of the economic advantages that can be brought by closer engagement with our universities. The report reveals that the total income our local universities earned from interactions with business and community organisations topped £90 million – up 6 per cent from 2011/12. The analysis also reveals that Higher Education Institutions have outperformed their UK peers in the fields of collaborative research, income from intellectual property and the number of sustainable spin-off companies."

The Minister concluded: "My Department’s ongoing commitment to supporting the universities’ knowledge exchange and commercialisation activities through the Higher Education Innovation Fund and the highly successful ‘Connected’ initiative has enabled the universities to increase the range and depth of their interaction with business and the wider community. This has also underpinned the successful commercialisation of the Northern Ireland research base. This focus will remain a key priority for my Department in supporting the economy."

The Department’s Higher Education Innovation Fund is designed to encourage the sector to increase its capability to respond to the needs of business and the wider community, with a clear focus on the promotion of wealth creation. The fund provided £3million to the higher education sector last academic year.

The HE-BCI survey reports on a range of activities including the commercialisation of new knowledge through collaborative research, the delivery of professional training, consultancy and services by universities to businesses and community groups culminating in activities intended to have direct social benefits to the community in Northern Ireland.

Scott Rutherford, Director of Research and Enterprise at Queen’s, said: "Queen’s research is not only distinguished by its excellence but also by its relevance to society. Our partners both locally and internationally, engage with us in a variety of ways: from targeted consultancy and Knowledge Transfer Partnership placements through to long-term strategic research and development collaborations. Our portfolio of spin-out companies has also created more than 1,500 jobs. The findings of the HE-BCI survey confirm yet again, that when rated against key measures, Queen’s is ranked consistently amongst the top ten UK universities and plays a leading role in delivering impact and positive benefits for Northern Ireland."

Tim Brundle, Director of Research & Innovation, University of Ulster said: "The University of Ulster is pleased to welcome the publication of the NI Report on the Higher Education Business and Community Interaction Survey, which illuminates once again the positive and increasing contribution that the university is making to our local economy. In the past year, the University of Ulster has celebrated a number of significant milestones, including completing more than 6,000 consultancy projects, 400 Innovation Vouchers, over 220 FUSION programmes and 150 KTP projects. The University has developed a global reputation for the local impact of its Research and Innovation and is focused on achieving greater outcomes within the economy from our investments in these areas."