Funding and initiatives
The focus of HEFCW’s 'business and community' theme is to enhance the contribution of higher education to the economy and society. The Innovation and Engagement (I&E) Fund is designed to support and develop a broad range of knowledge exchange activities at higher education (HE) institutions which will result in benefits to both Wales and the UK.
HE institutions in Wales are asked to provide rolling three-year Third Mission Strategies which develop their ‘third mission’ (knowledge exchange) activities that contribute to the economic and social well-being of Wales. Current strategies were submitted in 2007. But new three year strategies are due to submitted by 29 July 2011 in line with the guidance set out in circular W11/10HE: Innovation and Engagement funding arrangements 2011/12 to 2013/14.
£8.2 million will be made available for I&E funding in 2011/12, with £6 million to be allocated by formula and £2.2 million via a competitive bidding process.
During the current funding cycle, £1 million per year was made available for the following collaborative Third Mission projects:
The Dragon Innovation Partnership
The Food Industry Skills Project
