The UK has much to offer foreign investors: diverse, cutting-edge industries, a deep pool of highly skilled talent, and a wealth of world-class research and innovation. Foreign direct investment (FDI) plays a substantial role in our economic growth, productivity and employment, and universities are key players in the efforts to secure it.
FDI is a significant source of private sector funding into university research and development. According to HESA data, in the last five years, English universities secured £1.246 billion in overseas industry income accounting for about 45 per cent of all industry income.
UK universities’ research and innovation is undoubtedly attractive to overseas investors, but in a competitive market we cannot afford compliancy. How can UK universities maximise FDI opportunities?
For me: we have to collaborate more often and more effectively to combine our complementary strengths and harness our collective power. It is said that universities do not, or will not, work together, that their competitive nature prevails – this is not true. Universities collaborate all the time on research and innovation, teaching and education and facility development. Working together to secure FDI is a natural next step.
