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The UK is facing fresh challenges: continued recovery from the pandemic, a cost of living crisis, and a need for economic growth.
Our report puts forward practical actions to address economic and social disparities across the UK.
Across the UK, universities stepped up when it came to supporting our communities, businesses, hospitals and cultural institutions to get through the terrible experience of Covid-19. Now we face new challenges, including the increased cost of living.
Professor Chris Day
Chair, Universities UK Economic and Social Recovery Task Force and Vice-Chancellor, Newcastle University
Our recommendations
- Establish University Enterprise Zones (UEZs) in every university
- Bring together local communities by creating more enterprise and opportunity hubs
- Make us world leaders for university–employer partnerships
- Place universities at the heart of policymaking everywhere in the UK
Impact of universities – evidence
Our report sets out the evidence of the impact universities are making and outlines their potential to go further across three main themes:
How are universities generating growth and opportunity?
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For every £1 the government invests in University Enterprise Zones (UEZs), UEZs generate an additional £4.50 in funding.
- Start ups and spin outs with links to universities are more likely to survive than the average start-up.
- University affiliated accelerators and incubators are associated with faster sales and jobs growth.
- The most innovative companies recruit a greater number of graduates.
- Investment in the higher education sector creates more jobs per pound than equivalent investment in construction, the manufacture of computers and electronics, public administration and defence or health sector.