GRID's story told in new report on universities

The University of Glasgow and its role in the Glasgow Riverside Innovation District (GRID) is featured in a new report co-authored by Lloyds Banking Group (LBG) and PwC UK. 

Titled ‘Drivers of Growth’, the report looks at the enhanced civic role of the UK’s universities and the work they are doing in their communities to generate prosperity through economic growth and to secure financial sustainability. 

The authors say the report seeks to “re-centre” the local and regional economic role of universities at a pivotal moment for UK higher education. 

One of the case studies it draws on is the work of the University of Glasgow in GRID. 

Mission

It outlines how the University was founded with a mission to serve the city and its people - a principle that continues to guide its work - and how its economic anchor role, which is central to the University’s strategy, has grown in recent years. 

• The Lloyds Banking Group / PwC UK report

The University’s spinouts have raised approximately £65 million in the past year and employ more than 250 people, and the University is the lead partner in GRID, alongside Glasgow City Council and Scottish Enterprise.  

It reads: “Further investments in GRID are set to expand the city’s infrastructure for health and life sciences innovation – including the flagship Health Innovation Hub, scheduled for completion in late 2025.  

“Delivered in partnership with Kadans Science Partner, and supported by Scottish Enterprise, the Hub will provide cutting-edge laboratory and office space, supporting the growth of spinouts, research commercialisation, while attracting new companies.”  

Working closely with community partners such as Glasgow Clyde College is key to broadening employment opportunities and contributing to a more inclusive economy, according to the report.  

“The University’s GRID Civic Grant Fund has helped deepen relationships with the local community, while strengthened connections with Glasgow City Council and civic partners have enabled the University to play a central role in shaping future plans for the city and region.” 

Further investments in GRID are set to expand the city’s infrastructure for health and life sciences innovation – including the flagship Health Innovation Hub, scheduled for completion in late 2025.  

The Lloyds Banking Group / PwC UK

In a foreword to the report, Nick Hillman, Director of the Higher Education Policy Institute, writes: “All our higher education institutions – from the smallest and most specialist to the ancient research powerhouses – bring benefits to their areas, in jobs, income and expertise.  

“Yet as a sector, we have tended to emphasise their education and research roles more than their civic contributions. We have tended to talk about teaching, research and ‘third-mission’ activity, suggesting one area is of less importance.  

“In contrast, the most successful higher education institutions around the world tend to regard all three areas as being of equal merit and as mutually reinforcing.  

'Pivotal'

“This report seeks to re-centre the local and regional economic role of universities at a pivotal moment for UK higher education. There is a changed political environment including more devolution, and a continuing need to respond to big challenges, like climate change.  

“This is daunting, but it also provides a real opportunity for universities that can adapt to the new future.” 

The report was co-authored by Lloyds Banking Group (LBG) and PwC UK as part of a joint project to build on respective longstanding and ongoing work with the UK higher education sector.