The value of knowledge exchange activities at English universities increased by about £1 billion in real terms between 2003-04 and 2011-12, data from the Higher Education Funding Council for England suggest. Knowledge exchange was worth almost £3 billion in 2011-12, up from just under £2 billion in 2003‑04.
The largest proportion of knowledge exchange funding comes from contract research, and the value of this to universities is on the rise. Contract research generated about £300 million more in total for institutions in 2011-12 than it did in 2003-04, according to Hefce’s Annual Reports and Accounts 2013-14.
Other significant knowledge exchange income streams include collaborative research projects, continuing professional development activities and consultancy.