News: £6 Million fund launched to match university resources to region's business needs

A £6 million initiative that will ensure that the resources and expertise of the higher education (HE) sector in Yorkshire and Humber will help counter the impact of the economic challenges facing individuals and employers has been announced. Yorkshire and Humber universities and colleges have been awarded £3 million to support the region through the economic downturn by The Higher Education Funding Council for England (HEFCE). Yorkshire Forward is matching this figure targeted at supporting both businesses and individuals tap into the world class knowledge base available to them in the region. The two universities in Sheffield have submitted a proposal to target individuals, offering IAG through the "Higher Futures" Lifelong Learning Network, retraining and reskilling through inductions to HE, short courses, bursaries and fee remission. Furthermore, there will be consultancy opportunities for companies at risk and development of entrepreneurialism through work based skills courses. Over 1000 separate interventions are planned. The Department of Innovation, Universities and Skills (DIUS) has also agreed to fund a further two schemes within the region that will focus on providing internship opportunities. Welcoming the news, Jim Farmery, Assistant Director of Business at Yorkshire Forward said: "We see universities as key partners in driving forward the regional economy and we already work together on a large number of exciting and innovative initiatives. It is testimony to the excellent relationship that, together, we were able to produce so quickly such powerful proposals which have resulted in dedicated funding. We believe these will bring immediate benefit to individuals and businesses as they face the very real economic challenges of today's marketplace."

Yorkshire Forward website
Higher Futures website
Rotherham