Loughborough University Praised for Driving Economic Growth and Innovation in New Jobs Foundation Report

Loughborough University Praised for Driving Economic Growth and Innovation in New Jobs Foundation Report

(IN BRIEF) A new report by the Jobs Foundation highlights Loughborough University’s significant contributions to the local economy through business creation, job growth, and regional development. The report showcases the University’s role in supporting innovation and entrepreneurship, particularly through its business incubator, LUinc., and the Loughborough University Science and Enterprise Park (LUSEP).

(PRESS RELEASE) LOUGHBOROUGH, 20-Aug-2024 — /EuropaWire/ — A recent report by the Jobs Foundation has spotlighted Loughborough University’s significant contributions to the local economy, emphasizing its role in business creation, job growth, and regional development. The report, titled Loughborough: Looking to the Future, is part of a series that examines how employment can reduce poverty and the importance of businesses as forces for societal good.

The University’s impact is illustrated through various case studies, particularly focusing on its business incubator, LUinc., which is part of the Loughborough Enterprise Network (LEN). LUinc. supports a vibrant start-up community by bringing together graduates, academics, and regional entrepreneurs. One standout example featured in the report is Exphand Prosthetics, founded by Loughborough graduate Kate Allan. Her company has developed an innovative prosthetic limb for children that is both affordable and adaptable, showcasing the university’s influence in promoting socially responsible entrepreneurship.

In addition to supporting start-ups, the report also highlights the University’s collaborative efforts with local businesses, especially in the net-zero sector. Loughborough University Science and Enterprise Park (LUSEP) is a key player in this effort, housing over 90 start-ups, established businesses, and sports organizations, which collectively support more than 2,500 jobs.

Professor Dan Parsons, Pro Vice-Chancellor for Research and Innovation at Loughborough University, expressed pride in the University’s role as a driver of economic growth. He noted that innovation is central to the University’s strategy, which is reflected in the success of its students, graduates, and business partners.

Georgiana Bristol, Chief Executive of the Jobs Foundation, underscored the importance of the business community in tackling poverty, stating that the report on Loughborough provides a valuable snapshot of the positive relationship between business, jobs, and prosperity in the region.

The full report, Loughborough: Looking to the Future, provides an in-depth look at the University’s influence on the local economy and can be accessed for further details.

Read the full report, Loughborough: Looking to the future.

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Source: Loughborough University