The value of knowledge exchange activities at English universities increased by about ?1?billion in real terms between 2003-04 and 2011-12, data from the Higher Education Funding Council for England suggest. Knowledge exchange was worth almost ?3?billion in 2011-12, up from just under ?2?billion in 2003?04.
The largest proportion of knowledge exchange funding comes from contract research, and the value of this to universities is on the rise. Contract research generated about ?300?million more in total for institutions in 2011-12 than it did in 2003-04, according to Hefce’s Annual Reports and Accounts 2013-14.
Other significant knowledge exchange income streams include collaborative research projects, continuing professional development activities and consultancy.