HIGHER Education generated a massive £1.3 billion for the South West economy last year and supported 57,000 jobs, according to new research commissioned by the Higher Education Regional Development Association for the South West (HERDA-SW).
The findings will be discussed today (15 November) at a special conference for higher education business relations specialists being held in Torquay. The conference, which lasts two days, is being attended by 150 individuals from across the South West region. They will be sharing best practice and looking at how higher education and the knowledge economy can best benefit the South West.
Other key findings of the research include:
Students spend an average of £4,000 a year each in the region
Total student expenditure adds up to £320 million, thereby supporting 20,000 jobs outside of Higher Education
Universities and Higher Education colleges directly employ 17,000 people, but another 40,000 jobs depend on them (57,000 in total)
30 per cent of graduates stay in the region for their first job
80 per cent of South West students who also study in the region stay here for their first job
Sean Mackney, Head of Secretariat for HERDA-SW, said:
'Higher Education institutions contribute to the South West economy in three ways. Firstly by their annual spending, which is considerable. Secondly, graduates who stay in the region tend to attract higher wages and therefore have greater personal spending power, which in turn benefits traders. And lastly, higher education institutions produce economically useful information and knowledge. In other words they develop new ideas, which are often commercially useful, and also have skills and experience which can help businesses become more competitive. It is this last area that Higher Education institutions are working hard to develop through HERDA-SW.'
Higher Education's work with business is being increasingly supported by the Government as part of its drive for a 'Knowledge Economy'. Last year the Government provided £8 million worth of funding specifically to support business relations activities in the South West and upped that to £13 million this year. Examples of how this money is being used include:
Innovation Exeter is a project to bring together the best of University experts and professional specialists from the business world to help entrepreneurs set up and run new businesses. It has created a network of specialist lawyers and accountants and technical business people to act as mentors and advisers for knowledge-based start-ups. One part of the project is the Planning for Success series of presentations which has run 12 events covering topics as broad as intellectual property management, equity finance, flotation or sale, and e-commerce. It has attracted over 250 participants.
Exeter Investment Group is a leading provider of financial investment products in the City of London. Based in Exeter the Company is highly committed to training and professional development. It has turned to the University of Exeter to offer a part-time MBA, to its staff, which is accredited by the Association of MBAs. Philip Thitchener, Marketing Manager said: "Coupling the demands of today's business world with the rigours of a part-time MBA may seem daunting but the benefits are immediate and numerous. We have found courses offered by the University of Exeter to be relevant, effective and high quality - the Exeter part-time MBA is no exception."
Falmouth College of Arts organised a half-day conference this Summer entitled 'Design for Sustainability' to introduce designers, designer makers, manufacturers, and public sector organisations to design and sustainability issues. The overall aim was to develop the interface between the College and Cornish businesses, to introduce the College's new postgraduate diploma in Creative Enterprise and its research interests, to highlight the benefits of student work placements, and to open up the discussion about the needs of Cornish businesses in relation to design and sustainability.
Falmouth College of Arts also plans to offer training courses for local businesses in Web design, digital video and digital photography at its new Interactive Arts Centre at Woodlane, Falmouth and in video production, audio production, music technology and lighting at its new Media Centre at Tremough, Penryn.
University of Plymouth Enterprise creates business success through partnerships and reach-out activities with business and the community. The following are two examples of the outstanding results of the government-funded TCS programme, which matches companies with an exciting idea for business development with a high calibre graduate and the expertise and resources of the University.
The University of Plymouth has worked with Exeter-based packaging company Packexe to market and promote its products worldwide. The company supplies a range of materials from bubble wrap to printed tape and has experienced rapid expansion and record sales. Its hottest-selling product, 'Handy Wrap', has taken the market by storm and is expected to become a household name. Melanie West, the TCS associate placed with Packexe, represented the company at overseas exhibitions, playing a key role in its attempts to break new markets. "We are achieving goals and targets we thought were there but we didn't have the expertise to bring them to fruition. The University has helped us achieve this," says managing director of Packexe, Andy Orchard.
Talented graduate Nicola Bowden recently completed an innovative TCS programme with Kernock Plants of Saltash in partnership with the University of Plymouth. The success of the project gained national recognition for the company as a front-runner in the field of biological technology. Recognising the increasing trend of using bedding plants to create floral carpets on a large scale, the company used computer technology to invent a system that would reduce labour costs for local authorities wanting to display crests or logos in living material. Nicola was given responsibility for developing 'Instaplant' and successfully produced a software design package, organised and supervised initial commercial planting trials and led national marketing of the product. Within a year, the project had made a significant impact on the success of the business. "The launch has raised the profile of Kernock Plants as an innovator in industry, contributing to us gaining the award of Plant Grower of the Year," says managing director, Richard Harnett.
Dartington College of Arts is a partner in the South West Arts led MATRIX project, a regional pilot in the Arts Council of England's national continuing professional development initiative, Creative People. The College is also working closely with the Creative Industries Consortium in Cornwall, providing expert curriculum development and delivery in the field of arts management within a major European Objective 1 funded training programme for the arts sector in the county.
Notes to News Editors:
For further information contact Sean Mackney on 01392 229579 (Office) or 07711 047576 (mobile).
The conference 'Aim Higher' takes place at the Imperial Hotel, Torquay, today and tomorrow (15/16 November).
Speakers include Professor Roderick Floud, of Universities UK, and Sir Michael Lickiss, Chair of the South West Regional Development Agency.
HERDA-SW, the Higher Education Regional Development Association - South West, is an association of the fourteen HE institutions in the South West who established the organisation with the joint aims of extending higher education's contribution to sustainable regional development and competitiveness and influencing and shaping the social and economic agenda in the South West by appropriate joint action.
The fourteen members of HERDA-SW are: Arts Institute at Bournemouth; Bath Spa University College; Bournemouth University; College of St Mark & St John; Dartington College of Arts; Falmouth College of Arts; Open University; Royal Agricultural College, Cirencester; University of Bath; University of Bristol; University of Exeter; University of Gloucestershire; University of Plymouth; University of the West of England.
For further information please contact herda-sw
Contact
Sean Mackney
T: 01392 229579
E: herda-sw@southwestrda.org.uk