1. EPC Congress 2005 Research Funding Paul Hubbard Head of Research Policy, HEFCE

2. Research Funding The policy context HEFCE policy and strategy Current issues Funding after RAE 2008

3. The policy context The 10 year framework: Research and innovation for the knowledge economy: building on strength and investing for the future Dual support reform and FEC Making research work: knowledge transfer Skills for R&D and the broader economy

4. HEFCE policy and strategy Maintaining a world class research sector Demonstrating and rewarding excellence – wherever it is found Sustainability, and understanding costs Responsiveness and dynamism

5. Current Issues (1) Funding in partnership – what does QR pay for? Rebalancing dual support The importance of “blue skies” research Renewing the infrastructure

6. Current Issues (2) Balancing sector priorities and national needs capability and strategic provision the Science and Innovation Awards

7. Current Issues (3) Selectivity, concentration and pockets of excellence Applied research and knowledge transfer Keeping it simple: “burden” and special funding Other issues: RDPs and charity income

8. Funding after RAE 2008 (1) No decisions on funding have been taken yet… But some elements are now in place and likely to continue, or are already becoming clear…

9. Funding after RAE 2008 (2) QR as a substantial discretionary fund But funding will continue to be limited We shall continue to safeguard high quality Dynamism not sclerosis We do not have plans for further concentration or for radical change in funded volume

10. Funding after RAE 2008 (3) New profiles will discourage games playing and target funding more effectively We are committed to simplifying the volume measure and reviewing subject cost bands It remains our aim to fund the best research wherever this is found: the quality driver is paramount