The UK government has pledged a further £40 million a year to the Higher Education Innovation Fund (HEIF) increasing its annual budget to £200m.
The additional money will be allocated in the 2017-18 funding round, and the fund’s budget will continue at the same level until 2020, the Higher Education Funding Council for England announced on 10 July.
Usually, HEIF funds knowledge-sharing between higher education institutions in England and international institutions to increase economic and societal reach. The extra funds will support universities to collaborate with business and to commercialise their research.
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