A plan to develop a new type of privately-funded science and technology university was unveiled today by David Willetts, the universities minister. The graduate institution, intended to promote cutting edge science research could be set up with international partners and funded by businesses. Commenting on his latest plan, Willetts said; "The next round of new institutions may well link existing British universities with international partners". He went on, "The surge in international investment in science and technology would make this a key part of the mission of a new foundation." Mr Willetts will invite applications to set up this new type of university - but without any additional government funding. "This time we will be looking to private finance and perhaps sponsorship from some of the businesses that are keen to recruit more British graduates," said Willetts.
The minister says he is taking inspiration from a competition in New York to set up a science research institution which will help to develop hi-tech digital industries. In the wake of the financial crisis New York City authorities were concerned about an over-dependence on banking and finance, and that New York was falling behind the "knowledge hubs" that had developed around universities in Boston and California's Silicon Valley. As such, universities were invited to bid to build the science campus in the city. This New York project is part of a global pattern of investment in research and innovation as a way of protecting future economic competitiveness. The French government has followed suit launching a £30bn project to set up a series of "innovation clusters" - in which universities, major companies and research institutions are brought together to develop knowledge-based industries. Mr Willetts wants a major city in England to offer a site for the aforementioned technology campus as well as plans for another so-called "catapult centre" for science research, which will focus on satellite technology. Furthermore, this ties in nicely with the government’s innovation and research strategy published last month, which was welcomed by HEFCE.
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