Working with business and the public and third sectors
Knowledge exchange is the term used to describe interaction between academics and other organisations - businesses, the public and the third sectors.
This interaction is the flow of knowledge and information, be it through informal advice, consultancy, applied research projects or long term strategic partnerships.
For businesses the benefits may be seen in new products and processes, new insights into market opportunities or new approaches to delivering services. Working with a university may also open up new international links within industries.
For universities partnerships offer the possibility for enriching research and teaching as well as, in some cases, new funding and income streams.
The SFC supports the capacity of all higher education institutions to be involved through its Knowledge Transfer Grant. In part, this supports knowledge transfer offices in every institution that can offer advice and assistance to businesses and other organisations on how universities can help and what funding is available.
SFC also directly supports a number of specific projects linking Scottish businesses with Scotland's universities. Projects supported through SFC's strategic funding from the Horizon Fund for Universities are working in Scotland's key industries while SFC's support for Interface and an innovation voucher scheme offers support for the development of projects between universities and Scottish SMEs more broadly.