New Beauhurst data shows that red brick universities are beating traditional institutions including Oxford and Cambridge in securing key grants that help turn their research into commercial reality.
Innovation schemes run by the Technology Strategy Board (TSB) fund projects that look to commercialise research work. These projects are often a collaboration between SMEs and a universities, the latter looking to make a commercial impact with their research work.
Beauhurst's data shows that red brick universities such as Sheffield, Manchester and Nottingham are leading the way in project numbers with Sheffield already receiving 17 awards so far this year – versus just 5 each for Oxford and Cambridge. The same institutions rank highly when looking at the value of these grants with Sheffield's £2.66m dwarfing Cambridge's £1.13m and Oxford failing to even break the million pound mark.
In total over £34m in TSB grant funding has been secured by universities so far this year out of a total award of £230m. Many in the academic sector would like for that ratio to be higher. Perhaps they have something to learn from the red bricks?
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