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LERU-BIGGAR Report: Investing in Research pays off!09-09-2015

It is now publicly available online "The Economic Contribution of LERU Universities": a report commissioned to the independent consultancy BiGGAR Economics by the League of European Research University, of which the University of Milan is part.

LERU logoA study, leading to 9 months of data gathering, individual site visits to LERU universities and data analysis, “The Economic Contribution of LERU Universities” - now available online - quantifies the combined economic value of the LERU members and presents an estimation of the economic contribution of research universities in Europe.

The report, commissioned by LERU to the independent consultancy BiGGAR Economics, in 2014, offers telling figures about and an insightful analysis of the economic contribution of LERU universities, and research universities in general, to the European economy.

Although it focuses on the economic impact, the report also acknowledges the diverse ways in which universities contribute to society and how their activities bring about wider benefits.

Through this report, LERU aims to contribute to a much needed understanding and recognition of the multidimensional and far-reaching impact of research universities. Such an acknowledgement should be accompanied by practical, European and national measures to enable the development of research universities´ activities, such as providing the appropriate framework conditions and adequate funding.

"As the figures in the report demonstrate, investing in research, innovation and education really pays off!" states LERU Secretary-General, Prof. Kurt Deketelaere. “In 2014, LERU universities received €16.3 billion in income and generated a total economic impact of €71.2 billion. That implies that LERU universities generated €4.37 GVA for every €1 income earned”.

The LERU-BiGGAR report provides sound evidence of how research universities make essential contributions to the European economy. As such, the economic and societal contributions of the universities should be better taken into consideration by European and national policymakers.

Download press release and report on LERU’s website