Background and Strategy Clause Samples
Background and Strategy. 1.1. The University has recently set out an ambitious five-year strategy encompassing the period 2022-27. The strategy identifies five distinct but equally important themes: World-leading, Diverse, Digital, Sustainable, and Entrepreneurial. The Entrepreneurial theme is one of three themes to be retained from the previous five-year strategy, demonstrating the significant value that the University continues to place on this area. The UIF funding, together with additional external and internal funding, is a critical enabler for the University to drive and accelerate our ambitions for the Entrepreneurial St ▇▇▇▇▇▇▇ strategic theme.
1.2. Entrepreneurial St ▇▇▇▇▇▇▇ will encourage a culture of innovation and create an inclusive entrepreneurial ecosystem to enhance our impact on society and diversify and grow our research funding streams. This ecosystem will be created through the interactions of students and staff, through enterprise and entrepreneurial education, and through strong engagement with business, government, the third sector, and other funders.
1.3. We have defined Entrepreneurial as the ability to see potential in existing and future activity and to translate that into enterprise for the benefit of wider society. Entrepreneurial St ▇▇▇▇▇▇▇ is rapidly gaining prominence as a mainstream activity in the University, enabling regeneration locally and transformation nationally. We will encourage our entrepreneurial ecosystem, securing increased funding for research, integrating entrepreneurial and enterprise education, and stepping up external engagement.
1.4. The University has the ability and confirms its commitment to utilise and match fund the UIF Platform Grant.
Background and Strategy. 1.1. The University set out a five-year strategy encompassing the period 2018-2023. The strategy defined four distinct but equally important themes: World-leading St ▇▇▇▇▇▇▇, Diverse St ▇▇▇▇▇▇▇, Global St ▇▇▇▇▇▇▇, and Entrepreneurial St ▇▇▇▇▇▇▇. At a high level, the UIF funding, alongside other sources including University funding enables us to drive and accelerate our ambitions for the Entrepreneurial St ▇▇▇▇▇▇▇ theme.
1.2. Entrepreneurial St ▇▇▇▇▇▇▇ aims to drive a culture shift within the University to strengthen our engagement with industry, business, and policy makers, and increase our capacity for innovation and value creation. We recognise that industry is increasingly setting the agenda for major funding priorities and innovation is a key differentiator, and the demand for specific skills is growing. The current scale and pace of technological advancement are already posing fundamental challenges to society. St Andrews will need a step-change to engage fully to support innovation and deliver the education and skills that are needed for inclusive economic growth.
1.3. In accordance with the Entrepreneurial St ▇▇▇▇▇▇▇ theme, the University recently completed a review of innovation and entrepreneurial activity support mechanisms. The review recommended a restructure and additional resourcing of the entrepreneurial strand of the University. In August 2021 we implemented the first phase of the recommendations by creating a new internal professional service unit, Entrepreneurial (St ▇▇▇▇▇▇▇) and simultaneously increasing investment and prominence of our wholly owned subsidiary St ▇▇▇▇▇▇▇ Applied Research Limited (StAAR). StAAR is focused across the entire innovation pipeline from funding and innovation identification through to enabling and supporting spin-outs and start-ups.
1.4. The vision for StAAR is to create a single ’customer centric‘ service organisation capable of providing a broad range of functional capabilities to drive research grant volume and quality, and to enable the translation of innovative ideas and breakthrough research into commercial outcomes.