Universities and Councils Unite for £1 Billion Funding Drive

Universities and local councils in the United Kingdom are collaborating to secure nearly £1 billion in joint funding aimed at fostering inclusive growth. This initiative responds to escalating financial pressures that both sectors face, which have significantly impacted their ability to deliver essential services. According to Universities UK, higher education institutions have reported a net loss of £1.4 billion, while local authority debt has surged to £122 billion, as highlighted by a recent analysis from the BBC.

At the inaugural i-PLACE 25 conference, held on November 26-27, 2023, representatives from universities, councils, and industry leaders gathered to explore innovative strategies to stimulate growth and opportunity. Organised by the Key Cities Innovations Network, the conference featured a keynote address by Audra Gill, Head of Creative Industries at the Arts and Humanities Research Council (AHRC), who discussed various partnership-based funding avenues.

The conference provided a platform for dialogue on collaborative efforts to address pressing challenges. Prof. Joe Yates, Vice-Chancellor of Wrexham University, emphasized the importance of collaboration in meeting regional and institutional needs. He stated, “At Wrexham University, our 2030 strategy is rooted in the belief that collaboration unlocks solutions for communities. Through the Key Cities Innovation Network, we are proud to work alongside civic partners to drive inclusive growth and create opportunities that matter locally and nationally. Together, we can turn shared challenges into innovation that transforms lives and strengthens places.”

In addition, Prof. Nic Beech, Vice-Chancellor of the University of Salford and Vice Chair of the Key Cities Innovation Network, praised the conference’s role in fostering discussions around innovation. He said, “I’m proud to see the University of Salford acting as a foundation partner for this important conference to discuss how innovation can supercharge growth and opportunity across the UK. It’s something that runs through our DNA at Salford and plays a key role in our University Strategy, Innovating to Enrich Lives.”

The Key Cities Innovation Network comprises members from 24 towns and cities, alongside a diverse array of universities, including Bath Spa, Bradford, Coventry, Essex, Lancaster, Lincoln, Plymouth, South Wales, Southampton, and Wrexham. The initiative has garnered support from organizations such as Arts Council England, Connected Places Catapult, Arup, MediaCityUK, GM Business Growth Hub, and the BEYOND Conference.

As the financial landscape continues to shift, the collaboration between universities and councils aims to create a more resilient framework for delivering critical services and driving economic growth. The outcomes of this partnership could significantly influence the future of local communities across the UK, ensuring that essential services remain accessible amidst financial challenges.