Knowledge exchange (KE) commercialisation turns thoughts, ideas, and novel research into assets. Examples include new products, proofs of concept, and designs – all of which can be classified as Intellectual Property (IP).
The Higher Education Business and Community Interaction (HE-BCI) data collection collects data submitted by UK HE providers about the volume of production of IP (including patents, trademarks, and designs) and records their associated income. This data is currently used to allocate the Higher Education Innovation Fund (HEIF) in England by Research England, and in the allocation of the HEIF NI in Northern Ireland. Sub-heading 4 records further data relating to spin-off activity including formal and informal spin-outs and start-ups founded by both staff and graduates. Research England’s Knowledge Exchange Framework (KEF) currently uses these metrics.
The HE-BCI data collection currently uses income attributed to commercial KE outputs as a proxy measurement for the value of a provider’s contribution to the UK’s research and development (R&D) economy. This dataset demonstrates qualitative input metrics as a proxy measurement for outcome performance. These metrics have helped to develop a robust and informative dataset relating to IP production and helps data users to determine a minimum bound of the monetary value of KE. However, it is not a suitable metric for measuring the impact and outcome value of non-income generating forms of KE. We want to look beyond the measure of the pound, to broaden our understanding of the diverse range and value of KE.
The current model measures the impacts and contributions of spin-outs and start-ups originating from providers through the collection of estimated turnovers, employment rates, and external investment values (Table 4, rows C to H). We collect this data on newly registered companies and those that are still active in the last three years. Achieving valuable commercial outputs can sometimes reach beyond three years, and we do not measure ‘spill-over’ effects of commercialisation, such as follow-on job creation.
