The UK’s economic growth and its global position as a leader of science and innovation cannot be secured without skills. National policy articulates the importance of the UK attracting foreign direct investment to ensure growth of the economy in cutting-edge industries and, in parallel, ensuring citizens can gain the skills they need to progress in work at any stage of their lives.
A refreshed approach to Foreign Direct Investment within the sector, such as the one advocated in HEPI’s recent report on FDI into UK Research and Development, provides an opportunity for universities to unite their civic and global missions to address these concurrent priorities.
As has been pointed out elsewhere in this series, the narrative that universities do not, or are unwilling to, work together no longer holds water. Regionally motivated collaboration is the key element of working across universities, local and regional organisations and government departments to deliver investment and growth opportunities.
However, while collaboration across government and local and regional growth partners, such as Midlands Enterprise Universities, is key, the correct skills foundations must be in place within our industries in order to attract and deliver on FDI opportunities. This is where the importance of universities delivering on delivering high-quality skills as a means of both attracting investment, leveraging local and regional strengths and addressing regional inequalities comes in.
