Research Councils UK (RCUK), using the Impact Reports from each of the Research Councils, has produced a presentation that details the impacts of a collective investment of £3.4Bn in 2015/16.
This collective investment drives economic growth by helping to deliver the UK’s Industrial Strategy of increasing productivity, creating high-value industry, jobs and a skilled workforce. Each of the Research Council impact reports showcase specific examples of the impact of investment through our various awards, programmes and collaborations. The wide-ranging nature of the impact extends from furthering technological advances to combatting disease to breakthroughs in the creative economy.
From a purely financial and business perspective, the collective £3.4 billion of research funding has already leveraged an additional £229m of funding from other partners. That is an additional investment of 7% from commercial, international and academic partner organisations wanting to work with UK researchers.
In addition that research has already led to the creation of 57 new spin-out companies and 182 instances of new intellectual property. Internationally the work supported by the UK Research Councils has led to new relationships with over 5,000 partners in 88 other countries, placing UK research at the center of a truly global research landscape.
Key examples of impact are included from each of the Research Councils and these impacts demonstrate our collaboration and inter-disciplinary work, as well as showcase how each Research Council complement and enhance the work of each other. Highlights from STFC include the Harwell and Sci-Tech Daresbury Campuses, which include facilities used by a wide range of scientists funded by all the Research Councils.
The campuses currently host over 300 enterprises and support more than 6,000 jobs, creating the right conditions for high-tech SMEs to grow. This has led to over £100 million being invested by external partners into STFC’s business incubation companies over the last 5 years.
In this period, over 230 new jobs were created and companies generated 110 new products, 69 patent applications and two licences, firmly indicating the success of this unique incubation model.
For more information on STFC impact please see our latest Impact Report provided on our website.