TEESSIDE University pours millions into the North East economy every year and has created hundreds of companies and jobs, new research shows.
A report by the KSA Partnership shows Teesside University’s business engagement and enterprise activities provide an ongoing contribution of £20m per year to the Gross Value Added (GVA) measure of the North East.
To date 430 new businesses and 590 jobs have been created by graduate enterprise and DigitalCity Innovation; at an average cost per job that is £2,000 cheaper than the national average with a return on investment of 10:1 compared to 9:1 nationally.
As a leading university for engaging with business in the UK, Teesside University is supporting global entrepreneurship week next week with a host of events for students, the public and staff to foster entrepreneurial activity.
Professor Cliff Hardcastle, deputy vice-chancellor for research and business engagement at Teesside University, said last night: “The report by KSA shows how vital the university is to the economy of this region because driving excellence in enterprise, nurturing entrepreneurship, and inspiring success is at the heart of our mission as a leading, business-engaged university.”