Universities are doing more to support the UK’s enterprise culture, according to new figures.
A government report, released today, claims that universities are doing more to help students turn their entrepreneurial ideas into successful business ventures.
Figures reveal that the number of patents granted to Higher Education Institutions (HEI’s) had increased significantly between 2002 and 2003, with the number of applications growing by 26 per cent.
During the period, UK universities helpedmore students create their own businesses, with one spin off company for every £17 million of research expenditure, compared with every £60 million in the US.
The report also claims that the interaction between HEI’s and businesses has also improved, with 79 per cent of institutions helping small businesses with the resources they need, as well as providing them with improved recruitment pools.
The figures contrast with criticisms from business lobbies that many courses on offer are failing to provide to necessary skills for today’s competitive market place.
Research conducted recently by the Open University revealed that 50 per cent of entrepreneurs believed that schools and universities did little to instill practical skills in their students, with two thirds of small businesses calling for a return of old style technology colleges.
However, programmes such as West Focus, a regional partnership of universities and businesses, have helped to close the UK’s skills gap through improved communication.
Kim Howells, Higher Education minister, said: “Universities have a key role to play in stimulating local enterprise and regenerating regions through their innovative work.
“The results of today’s survey show that they are continuing to boost UK productivity.”
