Role of Research Universities in Economic Growth
Leading research universities play a crucial role in driving economic growth through knowledge transfer, collaboration with industries, and underwriting R&D for MNCs and SMEs. This symbiotic relationship between public and private investments is essential for innovation and development. The University of Birmingham's impact on the economy illustrates the significant contribution universities make to regional and national economic infrastructure.
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Presentation Transcript
Research and the economy Adam Tickell, PVC Research and Knowledge Transfer, University of Birmingham
Overview World leading research universities Outstanding fundamental science Good in itself Unpredictable economic outcomes Invisibility cloak Too much instrumentalism is risky Graphene But ...
... universities drive growth Major element of regional economic infrastructure University of Birmingham turnover approaching 0.5bn with multiplier over 1.2bn to West Midlands economy Highly effective leverage for capital investment UKBA notwithstanding, major contribution to balance of payments And ...
... growth through knowledge transfer and exchange New company formation Binding Site 2.3 billion collaborative research with industry 3.5 bn addition to GVA Develops the advanced skills base PhDs and first degree graduates Most of our major partners want access to our best graduates e.g. BP Scholarship Programme e.g. Over 80 key Arup staff are from UoB e.g. Collaborative degrees with KPMG
Underwrites R&D base MNCs in global market for company investment UK science critical to investment in UK arms of MNCs Universities and contract research organisations account for over a third of research spending by pharmaceuticals (4% in early 1990s) Underwrites SMEs Often unglamorous KTPS e.g. The Supplies Group e.g. Drywite
A symbiotic relationship Genuinely tripartite Public investment University expertise Private investment UKRPIF Parameters University of Birmingham/ Rolls Royce Major new national research facility
