Corporate report

Investing in excellence, delivering impact for the UK

EPSRC insights from the Research Excellence Framework (REF) 2014.

From:
EPSRC
Published:

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Investing in excellence, delivering impact for the UK (PDF)

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Details

This evaluation conducted by EPSRC staff allows a unique insight into REF 2014 data.

Key findings include:

  • 86% of the REF impact case studies in the engineering and physical sciences (EPS) units of assessment (UoA) involve EPSRC supported research or researchers
  • the impact case studies cite ~£1.1 billion of investment by EPSRC combined with an additional ~£1 billion research funding from other sources including government, EU and industry
  • there is evidence of at least £5 billion invested for further development and commercialisation
  • the majority of the impact case studies which refer specifically to support from Innovate UK (and predecessor organisations) also cite EPSRC funded research or researchers
  • in addition to a broad range of policy, environmental and societal impacts the quantified impacts cited include:
    • £16.2 billion cost savings
    • 394 new businesses created of which 87% are active; collectively these brought about ~47,000 jobs and a contribution of ~£4 billion to the economy
    • revenue from additional sales and other economic activity worth £61.1 billion.

Page last updated: 7 July 2022

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