More than 70 universities and colleges across the country will be offering real help to individuals and businesses during the downturn, after winning a share of £27m in government funding, it was announced today by the Higher Education Funding Council for England (HEFCE) and the Department for Innovation, Universities and Skills (DIUS).
In the East Midlands, two universities and colleges have submitted successful bids, totalling £1.5m in government match funding for a wide variety of projects.
- University of Derby - £1,088,664
- University of Nottingham - £356,000
The £50 million Economic Challenge Investment Fund will offer practical help to 50,000 people and 11,700 businesses whether in the form of:
- Over 2,000 internships and work placements for new graduates;
- Short targeted courses;
- Vouchers for the unemployed for training and help with looking for work.
Businesses will also benefit from a range of initiatives, including:
- Courses for workers on reduced working hours in key managerial and financial skills, and
- Placements of graduates with research expertise to support new product and process design.
Minister of State for Higher Education, David Lammy, said:
"Universities in the East Midlands have demonstrated that they are central to the fiscal stimulus that local communities, businesses, families and young people need.
"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.
"It is particularly encouraging to see that more than 2,000 internships and work placements with universities and local businesses have been approved, which will be an important part of the Government's proposals to increase the numbers available to students graduating this summer."
When announcing the successful bidders, Sir Alan Langlands, HEFCE's Chief Executive, said:
"This shows that higher education can respond swiftly to the needs of the local communities it serves. We set universities and colleges a tough task, giving them just four weeks to develop and submit their proposals, but they responded with enthusiasm and imagination, with 120 bids in total to the Economic Challenge Investment Fund.
"Bids came in from all types of higher education institution, bringing together the efforts of teaching, research and business staff across many departments in a response to evident local needs. New opportunities and courses will be on offer almost immediately, building up to a very full and busy programme over the summer and into next year."
Government funding is providing £27 million, with the rest coming from universities' own funds, partners such as the Regional Development
Agencies and local businesses.
Though the focus is on rapid action and short-term help, universities are also looking to the future and how to help people and businesses succeed when economic recovery gathers pace. Preparing people for the professional skills that will be in demand in the future and supporting development in potential economic growth sectors, such as low-carbon technologies, are key features of a number of the bids.
Institution
Partner institutions
Match
ECIF
Summary of project
University of Derby
Chesterfield College; Derby College; North Nottinghamshire College; West Nottinghamshire College; Leap Ahead (LLN)
£1,088,664
£988,086
Derby and its collaborating partners will provide careers support to graduates and other professionals, IAG to the unemployed leading to taster courses and HE programmes, making use of fee remission where appropriate. Businesses will be supported through specialist consultancy in e.g. business change, the partners will take part in rapid response task forces, and there will be a voucher scheme for tailored learning programmes. Enterprise services will be extended to include the unemployed. Matched funding from the university, partner colleges and the RDA.
University of Nottingham
£356,000
£500,000
The 'Talent Builder' project will deliver a programme of 300 graduate and post-graduate internships to support current and new-start businesses and regional organisations in the economic downturn and provide highly skilled future staff for industry for the region. It will support activity within the University of Nottingham and the employability of undergraduate and postgraduate students. Matched funding is provided by the institution.
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