Lancaster’s work to support business and the economy recognised by award

Lancaster University’s work to support businesses and the economy has been recognised by the inaugural Educate North Awards.

Lancaster picked up the Commercial Engagement Award at a ceremony held at The Hilton Manchester Deansgate on June 3.

An independent assessment identified Lancaster University to be worth at least £250m to the regional economy, supporting more than 5,200 jobs, and worth £630m to the national economy, protecting more than 10,000 jobs. This review also revealed Lancaster’s business engagement projects, which are all research-informed, boosted the North West’s economy by £15.80 for each public sector pound received –demonstrating an outstanding return on investment.

“Our significant business engagement activities reinforce Lancaster’s aim to positively impact the local community and regional economy, translate research into products and services, and ensure our students are highly employable.”

“The established SME engagement model will now have a national application and benefit the sector as a whole."

Commercial engagement remains very much at the heart of the University’s future strategy. Lancaster is investing in the construction of a £11.3m purpose-built chemistry research facility dedicated for use by industry to test and develop new products and technologies. The Collaborative Technology Access Programme (cTAP) Building, will open to businesses in Autumn 2015. This will significantly boost innovation by SMEs that could not previously afford to purchase cutting-edge equipment and facilities. In addition, the university has announced the creation of a new Health Innovation Campus in Lancaster that will provide space to work collaboratively with businesses on new technologies and processes to support healthy ageing.