A national assessment of how English universities contribute to regional economies and communities highlights the collective strength across the Midlands Innovation (MI) partnership.
The fourth national Knowledge Exchange Framework (KEF) published (September 2024) by Research
England evaluates the contributions higher education providers make both locally and nationally.
The results show that collectively MI partners are amongst the UK’s top universities for the economic growth they generate through the work they do to support businesses of all sizes, and for the creation of new ‘spin-out’ businesses, products and services that they create through academic research.
All eight MI partner institutions, the universities of Aston, Birmingham, Cranfield, Keele, Loughborough, Leicester, Nottingham and Warwick are rated in the top two categories for performing to a ‘very high and ‘high’ standard for their work with business, and seven are in the ‘very high’ or ‘high’ categories for the IP they generate and the commercialisation of research.
The results also highlight that partners collectively are gaining strength year on year since the introduction of the Knowledge Exchange Framework four years ago, and this year’s statistics show that the majority of partners now score in the top three quintiles across each of the seven KEF categories.
The news that Midlands Innovation partners individually are amongst the country’s top universities for the businesses they support, the I.P. they generate and for commercialisation, is also reinforced through the nationally leading initiatives MI partners undertake collectively through Midlands Innovation. These include:
- The Universities as Drivers of Trade and Investment pilot – a trail-blazing inward investment initiative to attract greater levels of overseas investment into regional research and development.
- The establishment of Midlands Mindforge – a bold decision by MI partners to establish the country’s first university patient capital investment vehicle to operate at a pan-regional scale, and to involve the highest number of universities. Mindforge will accelerate and enhance the commercialisation of ground-breaking university science and technology innovations and other IP rich early stage businesses in the Midlands.
Professor Dame Karen Holford, Chair of the Midlands Innovation Board of Vice-Chancellors, said: “With the Government’s desire to accelerate growth in the UK and drive up productivity across all UK regions, the national Knowledge Exchange Framework results demonstrate that Midlands Innovation partners have a critical role to play both nationally and regionally through their excellent work with businesses, in producing the next generation of entrepreneurs, and for the commercialisation of research.”
