The Higher Education Funding Council for England has confirmed that the Higher Education Innovation Fund will receive £40 million in additional funding.
A £15m portion of the £40m is being allocated as a “one-off 10 per cent uplift” to the 2017-18 HEIF allocations announced in April. The increase is being billed as part of the government’s industrial strategy.
A further £25m will also be added to the HEIF fund. It will be distributed “through the operation of the established main HEIF formula”, said HEFCE, and is “intended to continue in subsequent years”.
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