Europe’s top universities, including Trinity, contributed nearly €100 billion to the European economy last year as part of its role in the League of European Research Universities (LERU).
A new report, published this morning by LERU, shows that the 23 member universities of the group generated €99.8 billion, an increase of €28.2 billion from the previous year, with the entire European research universities sector contributing over €400 billion. The universities also generated 1.3 million jobs.
LERU, an association of 23 leading European research-intensive universities, releases the report annually. The collective income of LERU member universities increased from €16.3 billion to €20.7 billion between 2014 and 2016 due to the addition of Trinity and the University of Copenhagen. Trinity joined the ranks of LERU last year and is the only university in Ireland to be a member.
The report contained a number of key findings showing that research universities are substantial contributors to European growth and jobs, as well as proving that research and education have a high return on investment. LERU universities generate almost €5 for every €1 of income they received in 2016. The report also found that universities contribute a lot to innovation, generating €33 billion in Europe in 2016 by industrial applications of their research through licenses, spinouts and services to businesses.
It remains to be seen what impact Brexit will have on LERU, given that some of its member universities are based in the UK.
In a press statement, Provost Patrick Prendergast pointed to the importance of research outputs from universities for the advancement of the European economy and job market. “Universities are first and foremost about transmitting knowledge through education, and our leading research and high-level graduate employment are a cornerstone of innovation and job creation”, he said.
Prof Kurt Deketelaere, the Secretary General of LERU, emphasised the importance of the report’s findings for advocating research within universities. In a press statement, Deketelaere said: “The message is clear. If you want to deliver on growth and jobs, invest in research and universities. If you want a budget focused on results, invest in research and universities. We all need to speak up for research.”
“Research intensive universities such as Trinity and our partner universities in LERU are key drivers in research and innovation investments in their communities, and in the broader European economy”, he said.
