Report praises economic role of Andor Technologies

Andor Technologies has been praised by a national report for its contribution to the economic development of Northern Ireland.

The report, from Universities UK, is entitled ‘The University Culture of Enterprise: Knowledge Transfer Across the Nation’ and assesses the central role universities are playing in the nation’s economic and social development.

Andor Technologies was singled out in a case study as a successful example of the university culture of enterprise, having started life as a spin-off company from Queen's University. Since its establishment in 1989, Andor has expanded to become one of the world's leading manufacturers of scientific cameras.

The report highlights the value to the UK economy of knowledge transfer at both national and regional level, from spinout companies and employment opportunities to a renewed drive for entrepreneurship and wealth creation.

The wide-ranging report supports the case made by Universities UK in its submission to the Government’s Spending Review 2002 for an additional £450 million (recurrent) funding for knowledge transfer and community links, to support high quality but unfunded bids for ‘third stream’ activities. Central funding for such activity currently remains modest in comparison to the funds provided for teaching and research.

Professor Roderick Floud, President of Universities UK, said: "This report shows clearly how universities have embraced this key Government agenda. And we’re doing well. We have an impressive track record of establishing spinout companies that compares favourably with our competitors in North America 1. However this is only the tip of the iceberg. Our universities have so much more to offer the nation. Making it a reality now relies on Government."

Lord Sainsbury, Minister of Science, welcomed the report, and added: "Turning new ideas into jobs and prosperity is crucial for our future economic and social well being. I welcome this report on knowledge transfer activities which are an increasingly important part of the work of the higher education sector."

(CL)