The £1.2 million grant will be used in partnership with Centre for Sciences, Technology and Innovation Policy (CSTI) at the Institute of Manufacturing and National Centre for Universities and Business (NCUB) for the development of the project.
The grant like this from Research England is make available to fund UK universities' research programmes meant to increase the economic and social value and to enhance knowledge exchange activities.
According to a report it was said that when unit put into use, it will help improve the universities' research and development (R&D) and innovation in UK and thereby making available vital information to the government departments, universities and several funding agencies in form of data sharing, experts advices and provision of evidences.
It is futher said that when fully functional the unit will initially focus on three major areas
- developing an evidence base on how the COVID-19 induced economic crisis is affecting universities’ abilities to contribute to innovation, and identify possible actions to ensure they are able to play a strategic and active role in the national economic recovery.
- Improving our understanding of the research-to-innovation commercialisation journeys and examining how policies and university practices could be strengthened to deliver increased value to the UK.
- Advancing the data and metrics available to better capture the performance of universities in delivering economic and social impacts through their commercialisation activities to facilitate more effective benchmarking and evaluation of performance.
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