Research-intensive universities driving innovation and commercialisation across the UK

The UK is a world leader in research and innovation. Based in every region and nation in the UK, Russell Group universities play a key role in driving UK innovation and outperform universities in many other competitor countries.

Our universities have a proven track record of delivering cutting-edge innovation to the benefit of British businesses, consumers, and the wider economy. Independent research has found that every £1 granted to large research-intensive universities from the Higher Education Innovation Fund (HEIF) returns £12.46 in impact for society and the wider economy.

Universities support levelling up by driving innovation in their local economies.

Sustainable and flexible R&I funding is key to unleashing innovation. The UK’s approach to innovation funding has been successful in a number of areas. We invite the Government to consider expanding some of the following schemes to build on their success and deliver even greater value for British consumers, businesses, and the wider economy:

- Higher Education Innovation Fund (HEIF)
- Connecting Capabilities Fund (CCF)
- Strength in Places (SIP)
- Knowledge Transfer Partnerships (KTPs)
- UK Research Partnership Investment Fund (UKRPIF)
- R&D SME tax relief
- Innovation and Commercialisation University Research ICURe

The briefing also looks at how changing VAT rules can turbocharge university-business collaborations. Download the full document below: