Vc drivers for economic growth kl

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