Editorial: In search of evolution

University innovation, and how to promote it, is a constantly evolving beast. Still a relatively fresh idea in comparison to the age of the campuses that support it, drives to stimulate areas such as technology transfer, campus entrepreneurship and university venturing are still very much in the works, with many institutions taking markedly different approaches.

One such example of this was on display when Global University Venturing visited University of Nottingham recently to see the development of its Institute of Aerospace Technology (IAT). The institute came about after the university conducted a restructuring of tech transfer efforts in 2007 and identified aerospace, among others, as a worthy target.

In the UK, aerospace has an annual turnover of £28bn ($44bn), accounts for £25bn worth of exports, grew by £2.4bn last year, and employs 109,000 people. By 2030, it is estimated there will be a further 27,000 aircraft in the skies, with a global market worth $5 trillion. Harnessing a strong lineage of engineering prowess at the university, the IAT was set up in 2009 with £10m in backing from the European Regional Development Fund, the UK’s Engineering and Physical Sciences Research Council and Nottingham University.

The IAT is conducting knowledge and tech transfer across five sectors – engines, materials, manufacturing, operations and electric aircraft. In five years of operation, it has attracted several of the largest names in aerospace as partners, including Rolls-Royce, Airbus, GE Innovation, BAE Systems, Boeing, Bombardier and GKN. It has also amassed a research portfolio of more than 70 projects, with an estimated total value of £60m.

Aside from the more traditional approach, one way the IAT is stimulating the crossover between academia and industry is by holding events, one of which was taking place during our visit. The institute had brought together an impressive grouping of government bodies, academics, university representatives and industry.

Alongside an introduction to the institute, delegates were treated to talks from industry. John Price, executive adviser at Airbus, gave an overview of his company’s innovation, and closed with Airbus’s ambition to create an aeroplane capable of flying from Tokyo to Paris in two hours – a concept described as an aerospace engineer’s dream due to the three different types of engine it would take to power the craft through the stratosphere. Simon Weeks, chief technology officer of Aerospace Technology Institute, described his organisation as a halfway house between government and industry, with £2.1bn to spend on research and development over the next seven years and aiming to add university innovation as a third pillar to its operations. Also presenting was Colin Turner of Agustawestland, which has been developing a vertical take-off fully-electric tilt-rotor aircraft.

The university also took a turn, with innovation on display ranging from students demonstrating prototype aircraft and drones from on-campus competitions to a virtual reality programme for the coming Oculus Rift headset aimed at reducing anxiety on flights and with training potential.

It is this sort of adaptability Global University Venturing seeks to harness over the coming year.  During 2015, we will be extending our scope to cover a wider area of the university innovation scene. While we will retain our current focus on tech transfer, we will be asking more about the bigger picture of which tech transfer is only a small part.

Programmes such as the IAT’s will be increasingly on our radar as we discover how leading universities are developing new ways to reach out to industry. We will also be lifting the lid off incubators such as SetSquared to examine what works, what does not, and why universities should pursue similar programmes. As academic spin-outs have dwindled since the 2008 financial crisis, student entrepreneurship has exploded. To respond to this, more of our news will include student-led startups, while more of our analysis and features will discover why student startups are taking off, and how universities can best support this growing area of university innovation.

In order to deliver this content, Global University Venturing’s magazine will, from 2015, be published every two months instead of the current monthly, so we can deliver a bigger, more detailed issue that goes deeper into sectors, universities and university businesses. We will also be bolstering our reports online, with more in-depth journalism delivered to subscribers digitally.

It also gives me great pleasure to announce the third Global University Venturing Summit will take place on June 2-3 2015, alongside out sister publication Global Corporate Venturing’s fifth annual symposium. With both events taking place under the same roof, the world’s leading research institutions on one stage and $4 trillion worth of revenues in the room next door, we expect the synergy and networking to be monumental. More details plus an early agenda will be available in our next issue in February.

In the meantime, I wish all readers a merry Christmas and happy new year, and thank you for your continuing support of this title.