New analysis reveals a dip in the number of university-business interactions in 2022/23, compared with the year before, according to the State of the Relationship report 2024, the annual report from the National Centre for University and Business (NCUB).
76,619 interactions between universities and businesses were recorded in 2022/23, a decrease of 5% from the year before;
A 3.5% fall in the number of university interactions with small-and-medium-sized enterprises (SMEs);
A 8.8% fall in the number of large business and university interactions;
A 0.6% real terms decline was observed in total income from wider knowledge exchange activities with business (excluding licensing) between 2021/22 and 2022/23.
Dr Joe Marshall, Chief Executive of NCUB, commented: “Dynamic partnerships between universities and businesses drive innovation, translate cutting-edge research into real-world solutions that fuel economic growth, tackle societal challenges, and enhance public services. By connecting academic expertise with business needs, collaborations not only foster technological breakthroughs but also cultivate the skilled graduates who are essential to the UK’s future workforce. It’s therefore worrying that new analysis published today reveals some difficult realities for university-business collaboration. New data has revealed a recent decline in direct university interactions with both SMEs and large businesses. The economic and geopolitical pressures in 2022/23 impacted both university’s and business’s ability to maintain and grow these critical partnerships.”
Marshall continued: “Despite this, universities remain essential to the UK’s economic resilience and strategic growth. The Government, as well as universities, and businesses themselves, must pause to re-evaluate how we can better sustain and strengthen these connections, so they can reach their full potential. By capitalising on our long history of collaboration, the UK can better position itself in a competitive global economy.”
NCUB has released the eleventh edition of its annual State of the Relationship Report, a key evidence tool designed to inform and enhance collaboration between UK universities and businesses. This year’s report provides vital insights into the scope, trends, and challenges of these interactions and highlights the collaborative potential to drive growth and innovation in the UK economy.
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