Evaluations of HEFCE funding for knowledge exchange: the Higher Education Innovation Fund

'Assessing the economic impacts of the Higher Education Innovation Fund: A mixed-method quantitative assessment' was commissioned from Tomas Coates Ulrichsen of the Centre for Science, Technology and Innovation Policy at the University of Cambridge, to evaluate the economic impacts arising from HEFCE’s funding for knowledge exchange (KE) through the Higher Education Innovation Fund (HEIF). It presents new estimates of the return on investment of HEIF using income as a proxy for impact on the economy and society (£7.30 per £1 of HEIF), and a novel calculation of some additional non-monetised benefits (£2.40).  It sets out the evidence that the benefits delivered by HEIF are additional, non-substitutable and likely to be significantly higher than the economic impacts identified so far. More...