Higher Education Funding Council for England
HEFCE was set up by the government in 1992 to distribute public money for higher education in England.
In 2010–11 we will allocate £7.4bn to universities and colleges to support high-quality education, research and related activities. The government decides the total amount of funds that we distribute each year and we are accountable for the proper use of the money.
As a non-departmental public body we work within a policy framework set by the Secretary of State for Business, Innovation and Skills, but we are not part of the Department for Business, Innovation and Skills. We have five core strategic aims concerned with widening participation and fair access, learning and teaching, research, employer engagement and skills, and the contribution of higher education to our economy and society. Underpinning these we have two further strategic aims: to sustain a high-quality higher education sector and to operate at the highest level ourselves as an organisation.
Why HEFCE is supporting the Big Innovation Centre
"HEFCE believes that the Big Innovation Centre provides an important opportunity for real progress in innovation practice. Many organisations have contributed to the growing body of research and evidence on innovation, but the urgent need is to get ideas to work.
This is particularly important as the global economy struggles to emerge from recession and the world faces unprecedented societal challenges, for example from climate change, social cohesion and demographic change. We therefore support the Big Innovation Centre particularly as a way for universities and businesses to work together to achieve much-needed progress for our society and economy."
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