Russell Group calls for universities to play a central role in the Industrial Strategy

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21 October 2024

The Russell Group has highlighted how universities can play a transformative role in the successful delivery of the Industrial Strategy, following the publication of the government's green paper last week.

Writing for Research Professional News on Sunday 20 October, the Russell Group's Director of Strategy Sarah Stevens called for government to back R&D investment in order to support a successful Industrial Strategy, to create the right environment to boost the economic impact of existing activities and partnerships.

The article also spotlighted the new Russell Group expert advisory panel, who will make recommendations on the policy levers government could use to maximise university-business collaborations as effective tools for growth - for example, incentivising more private investment into R&D, creating more high-growth spinout companies, and leveraging the sector’s global reach to attract new investment into UK regions and nations.

One of the members of this new panel, Dr Arnab Basu (CEO of successful Durham University spinout Kromek Group), also wrote for Wonkhe on Monday 21 October, highlighting the importance of place in the green paper and how universities are well-positioned to contribute to important local growth plans, convening expertise in skills training, research, industry partnerships, and community and civic missions.

Arnab argues that universities must make a strong case for their place at the table as the Industrial Strategy develops; but they must also identify areas where they can improve, for example in the navigability of the university offer for SMEs.

Read more about the role that research-intensive universities are already playing in core Industrial Strategy missions in our latest report, Future Ready.