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Addressing these immediate issues will be a challenge. But we must not lose sight of plans for a sustainable, long term strategy to kickstart growth and opportunity across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û.

Universities Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û’s new report, Our universities: generating growth and opportunity, makes the case for increased collaboration between the government, businesses, and the higher education sector, especially at a local level.

Universities already contribute immensely to their local areas. They are often the largest employers in their local areas and draw in research and development investment into their communities from across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û and abroad. They also attract students and produce graduates who provide businesses with the skills and talent they need.

Universities are also key to building successful business ecosystems. It’s currently estimated that over the next five years, Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û universities will help form 21,500 new businesses and provide over £11.6 billion of support and services to small enterprises, businesses and not-for-profits. This includes specialist advice, training, access to the latest facilities and equipment to develop innovative products and conducting bespoke research projects.

Our report suggests several ways that universities could have an even bigger impact on growth.

And universities don’t just support local businesses – they actively create them. Graduate start-ups and university spin-outs generate nearly £5 billion in turnover every year across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û. Businesses with these links to universities are more likely to survive than other comparable businesses.

The University Enterprise Zone (UEZ) programme is an excellent example of how universities, business and local government can work together to build growth an opportunity in their local areas. UEZs are specific geographical areas where universities and business work together to increase local growth and innovation. An evaluation of the programme found that for every £1 the government invests in University UEZs, .

One example of success is at the University of Essex. The university’s UEZ has held 50 webinars attended by close to 1,000 businesspeople and delivered 444 one-to-one mentoring meetings with 168 entrepreneurs. The UEZ’s investment platform has secured £3.49m for companies on its platform and £4.22m in pledged investment.

It’s important that local and national policymakers can also take advantage of what universities have to offer. Universities have already helped local leaders to level up their communities by supporting local councils’ bids for the Levelling Up Fund, Community Renewal Fund, and Town Deals.

This support has ranged from helping to write bids for funding to providing economic data and evaluation support.

In the words of the Mayor of Mansfield District Council:

Our full report showcases even more examples of universities, local government and businesses working together, from healthcare and local cultural initiatives to lifelong learning and kickstarting innovative research.

As much as universities already do to support their local areas, they cannot do it all alone.

To kickstart growth and opportunity across the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û, we’re calling on the government to help us to:

• establish University Enterprise Zones (UEZs), or their equivalent in devolved administrations, in every university
• revamp sector deals to make the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û is the best country in the world for university-employer partnerships
• involve universities in national, devolved and local policy-making in every part of the Ïã¸ÛÁùºÏ²Ê¿ª½±½á¹û
• engage more communities through the establishment of collaborative enterprise and opportunity hubs targeted in left-behind places

Find out more