Universities have long been key players in the wellbeing of regional communities and economic growth in the North East and beyond.
Collectively Durham, Newcastle, Northumbria, Sunderland and Teesside universities support in excess of 34,000 jobs and contribute more than £2.2bn annually to the local economy.
Plus, they're also open for business - helping companies and enterprises across the region to research and innovate new products and services, and create high-tech, high-growth businesses launched from their academic research.
Helping small to medium enterprises to grow
Over the last four years, Newcastle University’s Arrow programme has boosted regional research and development, and supported more than 150 small to medium enterprises to innovate and grow.
An independent assessment forecasted that within the next three years, Arrow will have created 143 new jobs, developed 53 new products or services, increased private investment by £2.6m, and increased turnover by £16.9m. Building on this success, Arrow is planning to expand to be delivered with other regional universities, drawing on a wider pool of expertise, and is actively seeking funding to generate value for the region.
Commercialising research in the region
A further example is Northern Accelerator, an exciting collaboration between Durham, Newcastle, Northumbria, Sunderland, Teesside, and York universities, funded by Research England’s Connecting Capability Fund.
It delivers a targeted approach to build research strength and address key areas that were constraining regional economic activity. An integrated model provides end-to-end support through the commercialisation journey, from awareness raising and capacity building, through to seed investment funding.
Northern Accelerator has significantly increased the average number of new companies created from fewer than two per year pre-project, to an average of more than eight a year. These include Atelerix, a solution to store and transport human cells by encapsulating them in seaweed gel, and Advanced Electric Machines which creates electric powertrain technologies with sustainable source materials.
Today the Northern Accelerator universities are part of a thriving innovation ecosystem, with many of these new businesses based in innovation clusters in Newcastle Helix and County Durham’s NETPark.
The future
By working together, universities are determined to increase and accelerate innovation in key sectors. By providing opportunities for businesses at all stages to collaborate, innovate and grow, they hope to help develop a stronger, more productive North East business base.
Professor Jane Robinson, Newcastle University’s Pro-Vice-Chancellor Engagement and Place, said: “The North East’s five universities have a long history of generating economic, social and cultural benefits.
“Increasingly we are working together to deliver even greater regional impact, developing the talent and skilled workforce of the future and leading the research and innovation to address the impacts of a changing global climate and improving the health and wellbeing of local people.”
Interested in working with the region’s universities to grow your business?
Newcastle University is sponsoring the Innovation Award at the North East Business Awards 2023.
