Economic impact of research institute

Challenge

A UK public sector life sciences research institute focused on fundamental mammalian biology required an economic impact assessment of its science, as part of the evidence base accompanying a submission for renewed core research funding. The particular challenge was to link scientific contributions, beyond the immediately “translatable” research, made at the institute to economic value created, given the long time-frames and multiple stakeholders involved.

Solution

Alacrita’s consulting team, led by Simon Turner, conducted an evaluation of the long-term impact of its fundamental research measured in terms of actual and prospective health gain, at both national and global level, and/or market potential of interventions enabled by the institute’s discoveries, apportioning the institute’s relative contribution to the research base.  Major fundamental research contributions evaluated included innovations leading to monoclonal antibody and targeted oncology therapeutics.  Translational research, leading to licensing and spin-out creation, and collaborative links were also evaluated, as was the wider impact of the campus. In addition, current operating impact measured in terms of Gross Value-Added (GVA) and employment sustained was determined using standard methods.

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