RIS3 Workshop, Tartu, Estonia Driving economic growth through innovation Professor Richard B. Davies, Vice-Chancellor Swansea University 17th October 2017 .

Traditional University 21st Century Research Intensive University The role of a research intensive university in productivity growth and regeneration University Domain Life- and Career-Enhancing Teaching World-class Research Strategically managed relationships with industry Employability Traditional University Knowledge Economy 21st Century Research Intensive University

Complex Challenges Attract inward investment Support local companies Create companies License IP Ensure employable graduates

Technology Readiness Levels Problem 1: A Leadership Gap Technology Readiness Levels TRL 1-3 Research TRL 3-6 Technology development and scale up TRL 6-8 Component and system development TRL 8-9 Commercial implementation University Market PUSH PULL THROUGH PULL

Innovation is NOT a Linear Process Problem 2: The Myth of Innovation Innovation is NOT a Linear Process Basic Research Applied Research Development Commercialization University Market

Non-Linear Model of Innovation Quest for Basic Understanding New Knowledge Fundamental Ideas Basic Research Potential Use Application of Knowledge to a Specific Subject “Prototypicalization” Feedback: Basic Research needed for discovery Search for new ideas and solutions to solve longer-term issues Applied Research Feedback: Applied Research needed to design new product characteristics Solve scaling up problems Development of Products Goods and Services Development Commercialization Feedback: Market Signals/ Technical Challenge Desired Product Alterations or New Characteristics Cost/design trade-off

An ambitious journey March 2013 Our own research/student growth, and our success in attracting industry to co-locate and companies to spin out meant we were running out of space In 2013 Swansea embarked on one of the EU’s most significant knowledge economy projects….Turning a derelict BP oil and gas storage facility into a state of the art engineering and management campus to drive regional growth Importance of ambition at scale and a clear vision - to use University growth as an engine for economic growth in the regions - Working in a region with low skills, low GVA, poor productivity Focussed on engineering (Swansea is a metallurgy/manufacturing economy) together with Management/Computer science (i.e. the twin tenets of productivity performance) March 2013

Swansea University: Co-location model Industry University Skills Proto-typing Basic Research Blue Skies Research Applied R&D Training Postgraduate Students Manufacture

Science and Innovation Bay Campus Phase 1 opened Sept 2015 ! An ambitious plan, on a scale that can make a difference…… Delivery is critical…..Swansea has delivered through project management (and rolled out across industry partners and talented students through the EngDoc programme) Total Cost ≈ €500 million ERDF ≈ €70 million EIB ≈ €80 million

World Class Research and Teaching Facilities Undertaking applied/close to market research that is valued by business Multidisciplinary/industry focussed working is central to our rapid research advancement/delivering impact…..Innovation feedback loops That culture is tightly embedded in Swansea. These world class facilities are helping to drive productivity improvements in companies like Rolls Royce…bringing together researchers at the cutting edge of new technologies, with leaders of industry to drive innovation through to market.

Equipment to support industrial scale up & manufacturing Blue skies but also applied/close to market and at a scale that can be commercialised

Innovation into commercialisation Agor IP project – a new model to drive commercialisation from innvoation Led by Swansea University, AgorIP is working with the Health service and industrial collaborators across Wales to turn innovative research into new products, processes and services.   As part of the AgorIP project, commercial sector experts will help progress new ideas through experimental and industrial development, demonstrating proof of concept to potential funders and attracting further research investment. AgorIP was piloted before large scale investment & secured £4m of private sector funding to create six spin-outs within a year.   Turns the usual models on its head…..it does not focus on picking winners…..instead focussing on pipeline and deal flow

Phase 2: Computational Foundry, ERDF €25 million

Swansea City Deal signed: March 2017 Swansea University is on a strong upward trajectory……but our vision is that we take the City region with us.

Thank you In summary…. University’s are more connected than ever before to the market / to politics and policy / productivity and performance of countries and companies / global connections Swansea’s approach has been to: Have a bold and clear vision Be ambitious….scale is needed to make a difference to a region Pilot new approaches…lessons prevent large scale and costly errors and generate confidence in novel approaches Focus on planning and delivery…..maintain momentum