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Think tank warns of £1bn in unspent European funding

Universities could miss out on significant amounts of European innovation investment as a result of the coalition government’s approach to regional funding, a report published this week by Universities UK and the Institute for Public Policy Research has warned.

The report—Beyond Bricks and Mortar Boards: Universities’ role in building regional economies—says that £1 billion in funding from the €3.2bn available between 2007-13 from the European Regional Development Fund has so far been left unallocated in England. If the funding, much of which is earmarked for innovation projects, is not promised to bidders by 2013, it will be reabsorbed by the Treasury and Europe.

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