The FINANCIAL -- Alliance Manchester Business School has been awarded £9.7 million by the Higher Education Funding Council for England (HEFCE).
The grant, announced on July 10 by Universities and Science Minister Jo Johnson, has been awarded through the HEFCE-managed UK Research Partnership Investment fund (UKRPIF), which supports higher education research to attract investment, and to strengthen the contribution of research to the economy.
The award adds to £23 million of private investment towards the transformational capital redevelopment of Alliance Manchester Business School to create a world-class business and management research centre of excellence for the North, according to Alliance Manchester Business School.
Professor Fiona Devine, Head of Alliance Manchester Business School said: “It is testament to our research strength that HEFCE has identified Alliance Manchester Business School as a driver for economic and inclusive growth in the region.
“Our redevelopment will act as a catalyst for greater interdisciplinary working amongst research colleagues and business partners, extend links with leading international partners, and facilitate enhanced research-led education for students and clients. It has coincided with the emergence of the government’s industrial strategy and will enable us to make a rapid impact in balancing the economy through regional economic development.”
This is one of nine projects announced as part of the current round of UKRPIF funding. David Sweeney, HEFCE’s Director of Research, Education and Knowledge Exchange and Chief Executive Designate of Research England, said: “I am delighted that we are able to support these nine projects that will deliver high class facilities and world leading research, enabling UK universities to continue to tackle major national and global challenges, and make a significant contribution to economic growth”.
Universities and Science Minister Jo Johnson added: "The UK's world-renowned leadership in science, research and innovation is helping to solve a range of national and global challenges, and the breadth of the projects funded today means this will continue.
"Through our Industrial Strategy and £4.7 billion investment for research and development, we're ensuring we capitalise on the great work taking place in universities across the UK and remain at the forefront of innovation."
The £84 million redevelopment of Alliance Manchester Business School is part of The University of Manchester’s £1billion Campus Masterplan. The landmark refurbishment of the UK’s largest business school will deliver state-of-the-art facilities to the campus including a new Learning Resources Centre, Data Analytics Visualisation Lab and a Behavioural Economics and Strategic Management Laboratory.