0.1 Regions and clusters  (Page 8/15)

The US also has private schools that are schools not administered by local or national government, and retain their right to select their student body and are funded in whole or in part by charging their students tuition rather than by public funds many of which receive endowments from businesses. Strengthening universities links to business and industry. Also in the US, the universities are governed by boards, several of the people on these boards are also lead business people in the region and in their fields of expertise, which help guide the university into what areas are in demand from the market, so that the universities can better set their curricula to match the market needs. The US Universities also have a very strong alumni base that contributes endowments to the university strengthening its funding resource.

These links have perpetuated a culture that is underlying in the US universities and academics of collaboration between them and business. It should also be stated that US universities allow for their academics during non-contract hours to work with business in their field of expertise. Thus creating a deeper interaction on a personal level, and allowing transfer of knowledge from business back into the university. These links also aid in the interaction of marketing of university IP, a majority of licensing in US universities comes from the network that the academic themselves has created through their interaction with business.

While in the UK the view of business is quite different, the view of business was not held in regard by academics and the contracts that they are employed through do not allow for the interaction as it does for their US counterparts. Yet as Richard Lambert stated in his review,” there has been a marked culture change in the UK’s universities over the past decade; most universities are actively seeking to play a broader role in the regional and national economy” (HSMO 2003).

“Two thirds of growth comes from innovation” Chancellor Exchequer, June 2002

Welsh assembly government policy

Economic development

A winning wales and wales: a vibrant economy

The Welsh Assembly Government outlines its overarching strategic agenda in ‘Wales: A Better Country’ (WAG 2003b) with policy areas including:

• Helping more people into jobs.
• Improving health.
• Developing strong and safe communities.
• Creating better jobs and skills.

This agenda ties together the policy areas of health, education, transport, local government and economic development.

The economic development agenda is captured in ‘A Winning Wales’, which was first delivered in 2001 (WAG 2001), updated in 2003 (WAG 2003a). It is supported by a host of interrelated strategies and accompanying action plans for aspects of economic development including innovation (WAG 2003), entrepreneurship, skills, (WAG 2005c), the environment and specific industry sectors ( [link] ). The Strategy also aims to outline how Structural Funds, including Objective 1 funding are to be used in economic development for West Wales and the Valleys.