What does this mean for business?
What does this Delivery Plan mean for business and other users of research?
The Prosperity Outcomes provide a framework for businesses to engage with our Delivery Plan and to consider ways in which their research and innovation agendas may dovetail with the research base. We will look to use this framework as we facilitate dialogue and broker relationships between universities and business, and other end users of research. Our operating mechanisms and routes will remain substantially the same, although in a climate of increasing budgetary constraint, and in responding to the Dowling Review, we will be looking to provide routes that are more efficient and streamlined than ever before.
Our Partnership with Business and other innovation funders
In addition to our strategic relationships with universities, we work in partnership with research-active business and users of research. We will partner with business in a number of ways, through one-off involvement in research or training investments, through to co-invested research programmes developed between EPSRC academia and business. From those relationships, the following benefits accrue:
- over £900 million leverage on a £4.3 billion portfolio
- a high degree of engagement with SMEs (60% of our collaborative partners)
- strategic relationships with the UK's leading research-intensive companies, providing a highly effective route for co-invested research programmes and strategic understanding of the business environment
- additional sales revenue generated as a result of EPS research
- a joint presence at the relevant sector councils and leadership groups
- a research-base environment which is attractive to inward investment
- coordinated advocacy for continued support for the EPS research base.
In this Delivery Plan, we will
- Increase our focus on the breadth of companies, using a stratified model of relationship management
- Establish a Business Engagement Forum to facilitate this increased focus and interaction
- Introduce an open and transparent framework which allows business to clearly understand the range of opportunities for engaging with EPSRC and/or our investments, taking into account business planning cycles
- Increase business involvement in EPSRC’s advisory structures and peer review processes
Expected outcomes – by the end of the Delivery Plan we will have
- Engagement with an increased range of businesses which engage with EPSRC’s portfolio, with greater impact from EPSRC funding and increased influence from EPSRC and the research base into sector and business strategies
- Increased intellectual contribution and financial investment from business in the EPSRC portfolio, in terms of both existing investments and new opportunities
- Greater business input into:
- EPSRC strategy, increasing its relevance to national needs
- peer review, helping increase impact from our portfolio
Innovate UK and the network of Catapult Centres offer important pathways to impact for EPSRC investments in research and training. EPSRC has a well-established relationship with Innovate UK and has engaged with all the Catapult Centres. Through these partnerships we will:
- align relevant processes at the strategic and operational levels
- develop joint approaches in key areas, as in Quantum Technologies
- align or co-fund activities in line with organisational and joint priorities and
- enable more and deeper connections between EPSRC investments and the Catapult Centre network.