Question

To ask the Secretary of State for Business, Innovation and Skills, what assessment his Department has made of the adequacy of government funding for translational research programmes; and if he will make a statement.

The Government’s Productivity Plan in July set out our ambition that UK Universities will continue to increase their collaborations with industry to drive the translation and commercialisation of research and broader knowledge exchange. Universities’ external income from engagement with business and the community reached £3.93 billion in 2013-14, up by 27% from 2009-10. The World Economic Forum ranks the UK among the top four nations in the world for university-industry collaboration in R&D. The recent Research Excellence Framework 2014 has demonstrated the breadth and extent of economic impact arising from university research, with 84% of submissions assessed as outstanding or very considerable by expert and academic peer review.