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UEL leads £710,000 economic investment challenge in Thames Gateway

Wednesday 15 April 2009

A partnership co-ordinated by the University of East London (UEL) has been awarded £710,000 of funding by the Higher Education Funding Council for England (HEFCE) to develop enterprise, employment and economic regeneration in the Thames Gateway.

UEL will receive £500,000 with a further £210k made available to support partner Universities and Colleges within the Thames Gateway.

The funding will be targeted towards the supporting growth in the cultural and creative industry sector, which is poised to be one of the major sources of new jobs within the Thames Gateway.

Over the next two years, UEL and its partners will support businesses, students and entrepreneurs through placement schemes, expert workshops, business ‘boot camps’ and enterprise coaching and training delivered through Knowledge Dock and the newly-established Petchey Centre for Entrepreneurship.

UELconnect, the commercially focused unit within UEL that builds on promoting employer engagement through the provision of flexible learning designed for business and industry will also be funded to develop and deliver programmes around keeping businesses competitive in a recession.

Professor Susan Price, acting Vice-Chancellor of UEL said: “Cultural and creative industries are one of the fastest growing sectors of the economy, and even today they have the potential to create high quality jobs and contribute to the prosperity of east London and the Thames Gateway.

“This award is welcome recognition of our strong track record of working with industry and other partners to develop enterprise, foster innovation and contribute to economic development. Working with us, businesses can link into high quality research, and transfer the latest knowledge directly into practice.”

Nationally, more than 70 universities and colleges were awarded shares of £27m in Government funding under the Economic Challenge Investment Fund, it was announced today by HEFCE and DIUS. UEL and its partners received among the highest awards in the country.

Announcing the national programme, Minister of State for Higher Education David Lammy said, ‘Universities are clearly showing that they can provide a lifeline in these challenging times by offering targeted short courses to adults who have lost their jobs, by connecting small businesses to graduates and university expertise, and by offering graduates the skills and opportunities to set up their own business.”

Though the focus is on rapid action, universities are also looking to help people and businesses succeed longer term and develop professional skills that will be in demand in the future.

Ends.

Contact: UEL Press Office Hana Esselink 020 8223 6239/ 07595 056245

Notes to Editors

The University of East London (UEL) is a global learning community with over 28,000 students from over 120 countries world-wide. Our vision is to achieve recognition, both nationally and internationally, as a successful and inclusive regional university proud of its diversity, committed to new modes of learning which focus on students and enhance their employability, and renowned for our contribution to social, cultural and economic development, especially through our research and scholarship. We have a strong track-record in widening participation and working with industry.

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