Significant increase in funding for LJMU
12 March 2009
HEFCE, the funding council for higher education in England, has announced the allocation for the forthcoming budget year and LJMU has been awarded major budget increases for specific activity.
Research funding has increased by more than 40% - The HEIF (funding to support knowledge transfer and partnerships) award has grown by almost 30%
- The overall funding allocation has risen by 4.9%, but this includes some additional funded activity
The Vice Chancellor, Professor Michael Brown, comments: “This is a truly excellent outcome. We already have a robust financial position from which to deliver our ambitious plans and this will further underpin our activities. We will continue to manage our finances as carefully as we have to date, to ensure that we can weather the current economic downturn without losing any quality in the service we provide for our students and clients as well as building an exciting future for LJMU. Indeed our financial strength is allowing us to invest a further £90m in physical infrastructure over the next three years.”
Director of Research, Professor Andy Young, comments: “The RAE results confirmed our status as a world-leading university with exceptional international research across the whole institution.”
The University also received confirmation of an increase in the HEIF allocation following a successful bid for further funding.
Jon Barrett, Director of Commercial and Enterprise Development, comments: “A key trigger for this increased award is by our strong performance in the Higher Education Business and Community Interaction Survey which, in turn, reflects our ability to successfully engage with businesses across all sectors. This award will allow us to further develop activity throughout the University and support existing and new clients at a time when our interaction with them can make a significant, positive difference.”
LJMU's fundamental interaction with business and the community is valued at £20m+ per annum, with more than 75 associated university companies in the portfolio and the highest number of Knowledge Transfer Partnerships in the North West. Over 1000 graduates benefit from entrepreneurship training every year and commercial interaction at local, national and international level is the fundamental core of the World of Work (WoW) programme.
For the RAE outcome visit here: http://www.ljmu.ac.uk/Research/97970.htm
For the Business and Community Survey visit here: http://www.ljmu.ac.uk/NewsUpdate/index_96062.htm
