Research England to allocate £328 million to Knowledge Exchange funding

Research England to allocate £328 million to Knowledge Exchange funding
An increase in the HEIF formula funding may lead to an increase in university-wide innovation. Source: RAEng/Unsplash

Great news for research and knowledge exchange practitioners across England!

Research England (RE) has recently announced an increase in the HEIF formula funding which brings the total to £260 million.

According to their Grant Allocation release for the 2022-23 academic year:

📌£240 million is being allocated through the main HEIF formula, with the remaining £20 million distributed as a supplement to HEPs whose main allocation is capped at the maximum.

📌The £260 million total includes £48 million contributed by the Department for Education to support student and teaching elements of KE through HEIF.

📌Higher Education Providers (HEPs) must comply with the policies, priorities and accountability arrangements for HEIF, as set out in RE-P-2020-037.

📌RE also requests that HEPs pay particular regard to the priorities in the Innovation Strategy and Levelling Up White Paper in using funds.

Plus, the total Knowledge Exchange funding for 22/23 academic year is a whopping £328 million! (See Table A in the release)

HEIF Funding Method Updates

We are always on the lookout for HEIF funding updates to integrate into KEVRI software.

If you are also on the hunt for HEIF funding changes, it's best to note that Research England announced it will maintain the same allocation method and weightings for the HEIF, except for the following amendments to accommodate the increase in budget...

a. The limit on the year-on-year percentage increase will go up from +10 per cent to +15 per cent.

b. The upper cap on the main HEIF allocation will be increased from £4.285 million to £4.67 million

c. The upper cap on the top-up allocation (for HEPs whose main HEIF formula funding is limited by the top cap) will be increased from £0.5 million to £1 million.

Find out the latest QR and Knowledge Exchange allocations

Alongside the announcement of £260 million HEIF formula funding, Higher Education Providers across England can now review their Knowledge Exchange (KE) and Quality-related Research (QR) funding allocations for 2022-2023.

You can now see what your university has been allocated for 22-23 by clicking here.

Or for further information on the latest Research England Grant Allocation (22-23) release, click here.



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