Universities have been reminded of the need to boost their business links after their income from licensing activity fell by 22 per cent in the year following the Brexit vote.
The National Centre for Universities and Business revealed on 19 June that institutions’ income from licensing fell from £125.8 million in 2016 to £101.7m in 2017. That was despite universities issuing 38.4 per cent more licences (7,487) compared with 2016.
In a report on the health of university-business collaborations, the NCUB also found that businesses reduced their investment in R&D for the third consecutive year in 2017, a trend that the NCUB described as “potentially concerning” for the government’s commitment to boosting total R&D spending to 2.4 per cent of GDP by 2027.
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