The University of Opportunity
The University of Wolverhampton: Driver of Economic Growth Geoff Layer Vice Chancellor June 2015
The University of Opportunity
“Just as castles provided the source of strength for medieval towns, and factories provided prosperity in the industrial age, universities are the source of strength in the knowledge‐based economy of the twenty‐first century.”
Lord Dearing, September 2002
The University of Opportunity
Purpose of Higher Education
• To enhance individual life chances by encouraging and enabling individuals to develop their own capabilities • To increase knowledge and understanding to benefit the economy and society • To serve the needs of an adaptable economy, regionally, nationally and internationally • To play a major role in shaping a democratic, inclusive society Dearing (1997)
The University of Opportunity
Benefits of HE – The Nation • • • •
Greater tax-base and earnings Business profitability and productivity Reduced demand for health services Reduced interactions with criminal justice system • Reputation of nation abroad
The University of Opportunity
Benefits of HE – The Business • Applied research • Matching business need to graduate skills • Quality graduates • Business space • Knowledge Transfer • CPD / training
Partners in economic development
The University of Opportunity
Benefits of HE – The Individual • • • • • •
Enhanced earnings Employment opportunities Reduced benefit dependency Self-confidence Intergenerational and social mobility Health and wellbeing
The University of Opportunity
The University of Wolverhampton in 2015
• ‘Innovation and Opportunity’ at its core • £250m investment strategy • Over 22,000 students from over 100 nations in UK and international campuses • QAA commended • 94% students employed
The University of Opportunity
The ‘University of Opportunity’
The University of Wolverhampton
• • • • • •
Raising Aspirations Raising Attainment School Engagement Relevant Curriculum Skills Development Continuing Professional Development • Business Growth and Engagement • Applied Research
Shaping Economic Growth What are we doing?
The University of Opportunity
Raise educational standards
Opportunity
Enhance individual life chances
Student employability
Grow business
Business development and start-up
STEM • 100,000 STEM graduates per year needed 2012-2020 in UK alone • Only have 90,000 currently, and many don’t enter STEM careers
The University of Opportunity
What are we doing? Engineering
The University of Opportunity
What are we doing?
The University of Opportunity
Engineering - £12m investment in engineering facilities; - From October, new courses in Automotive Engineering and Motorsport Engineering; - University owns a F3 racing team – theory and practice in industry
What are we doing? Business Development
The University of Opportunity
What are we doing?
The University of Opportunity
Business Development -
New £18m Building topped out in May 2015; Named after University’s Chancellor, Lord Paul Focus on entrepreneurship Centre for Africa Entrepreneurship
The University of Opportunity
What are we doing? Business Development • Employer and Business Engagement – Business Solutions Centre
• Innovation Support – Product Development – Partnership with inventors
• Enterprise and Incubation – Incubation and Grow-on space
Example: KTPs
The University of Opportunity
ISL Ltd • Specialise in design and manufacture of energy efficient LED lights • Need for more robust development techniques using latest CAD methods • Recruited a Mechanical Engineering graduate as a KTP Associate (Product Development Engineer)
Results
The University of Opportunity
• 200% growth in company turnover • New systems embedded in company • New marketing opportunities created through increased speed of design and development • Graduate obtained significant experience, including international delivery
The University of Opportunity
What are we doing? Construction
The University of Opportunity
What are we doing? Construction - Springfield UTC • Centre of excellence in Construction and the Built Environment; • £66m investment in the heart of historic Wolverhampton • High Level Skills Centre
The University of Opportunity
What are we doing? Construction - MOU with Carillion - Student opportunities - Joint tenders
The University of Opportunity
Strengthening HE to Strengthen Economic Development • Collaboration between business and universities • Employability skills interwoven into degrees • Graduate jobs • Internationalisation • Ensure Opportunity
The University of Opportunity
Thank you