The University of Dundee's contribution to the local economy and city life is highlighted in a national report published tomorrow (Tuesday 14 May) on knowledge transfer and the university culture of enterprise.
In their report, Universities UK cite the huge biotech activity in the Dundee area which now accounts for around 2,100 jobs (3per cent of the local workforce) and which has seen some 30 biotech companies established in the area over the last eight years:
"In the past two decades Dundee University has become the primary force in the revival of the city's industrial economy and built the third largest biotech cluster in the UK after Cambridge and Thames Valley."
The report pays tribute to the involvement of the Dundee population in a range of university centred activities from fund raising and volunteering for medical research trials to the work pursued for the elderly by the Queen Mother Research campaign and notes that "one in two local schoolchildren going to university choose Dundee."
"Few universities are more in tune with the community than this Tayside institution" comments the report.
The wide-ranging publication 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.
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Universities UK Report
Universities UK launches report on knowledge transfer and the university culture of enterprise
Universities UK this week launches its report 'The University Culture of Enterprise: Knowledge transfer across the nation', which summarises and celebrates the central role universities are playing in the nation's economic and social development.
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.
Case studies from a diverse range of higher education institutions (HEIs) reflect the diversity of commercially exploited academic research and feature industries ranging from biotechnology, software design and photonics to beer-making and e-learning.
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, totalling no more than £100 million per annum by 2004-5. By comparison, in 1999/2000 HEIs generated nearly £2bn from research grants and contracts, more than twice the funding received from the funding councils for 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. We hope that for the economic and social prosperity of the country, Government will fulfil its pledge, in the forthcoming Spending Review, to put the funding of 'third mission' activities on a sustained footing."
David Gill, Head of HSBC's Innovation and Technology Unit, said: "We welcome the publication of this report by Universities UK which highlights the number and variety of successful companies that have developed out of universities in the UK. HSBC sees the commercial exploitation of university knowledge as an area of vital importance to the UK economy."
Lord Sainsbury, Minister of Science, welcomed the report, and said: "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."
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