STRATEGIC INITIATIVES

Working Futures Fund

The University is investing its VAT windfall into the Working Futures Fund, to give local people and local businesses hit by redundancy access to financial assistance to support vital training and development.

To date £45,450 has been spent on providing subsidised training for key sectors and topics, from leadership and management, Prince 2 and Apple Media training, to bespoke provision for the local ceramics sector and community and voluntary services, both of whom have been struggling in this current market.  All of this provision has been designed to respond to the needs of the receiving organisations, to help their workforce meet immediate business needs.

Economic Challenge and Investment Fund (ECIF) proposal

Staffordshire University has been successful in securing government funding to support individuals and companies during the downturn with a project totalling £590,985 aiming to provide focussed ‘knowledge intensive’ support addressing the immediate impacts the recession has on higher level skilled individuals and local businesses.

Project delivery is focussed on local needs by providing business resilience and individual resilience support. Activity is categorized into three portfolios and has made significant progress to date:

Graduate Futures – Information, advice and guidance to unemployed graduates and professionals to build individual resilience and provide support for entering traditional industries as knowledge transfer agents. To date, 220 individuals have received one to one careers guidance and 60 graduates have benefited from intensive career management workshops.

Working Futures – building employer engagement and work based learning resilience through provision of subsidised and free higher level short course training and development opportunities or access to HE provision.  45 individual learning opportunities have been delivered to date.

Business Futures – building business resilience through knowledge transfer opportunities by accelerating access to HE expertise and establishing a ‘Knowledge Network’.  Programmes have been launched for STEM focussed demonstrator events and a series of business club events in partnership with the Institute of Directors.

Support available for individuals  

• Each year the university receives in excess of half a million pounds from the government, called the Access to Learning Fund, to help UK students who need extra financial support for course related costs, such as books, equipment, travel and childcare, and living costs such as rent, utility bills etc. 1000 applications for this fund are expected, with each application being individually assessed and means tested. The Students Union runs workshops on how to fill in the form for all potential applicants, whilst simultaneously offering guidance on financial issues such as benefit entitlements and financial planning.
• Staffordshire University is a partner in the successful Staffordshire bid to the Future Jobs Fund, and as a result will be providing 10 apprenticeship places for individuals looking for a career in higher education.
• HE shop – this core service provides Information, Advice and Guidance on Higher Education, access to HE courses and short course provision to all members of the public.
• West Midlands Graduate Internships is a regional programme providing unemployed graduates with internships in companies to enable them to gain real experience. To date, in the first few months of the project, Staffordshire University has secured 14 internships for graduates who are all receiving fantastic work experience.

Support for companies

• Business Villages – energy costs and increases havebeen absorbed for current clients as there has been no increase in rental fees sinceNovember 2007. For new clients (and for existing clients), flexible payment terms are being offered where possible.
• Graduate career development - increased placement opportunities through Graduate Advantage (regional), Graduate Enterprise programmes (SPEED, EFS), increased number of regional Knowledge Transfer Partnerships (KTPs) and mini KTPs.
• 8% rebate on Knowledge Transfer Partnerships for companies.
• Innovation vouchers – vouchers of up to £3,000 to access university academic expertise to help solve a business issue. Staffordshire University has delivered 69 vouchers since the 5 rounds released to date and are the second highest performing university in the region.

Other collaborative activity

• Member of the North Staffordshire Chamber of Commerce Manufacturing Network Managing Group.
• Academic staff commenting on situation for local companies in the local press.

Staffordshire University support for companies and individuals through the economic downturn

Staffordshire University is implementing a range of measures to support local companies and individuals through the recession, from large strategic programmes to smaller practical interventions. Staffordshire University committed £500,000 to this agenda from its VAT windfall, which has acted as a lever to draw in further public sector support.

Staffordshire University is implementing a range of measures to support local companies and individuals through the recession, from large strategic programmes to smaller practical interventions. Staffordshire University committed £500,000 to this agenda from its VAT windfall, which has acted as a lever to draw in further public sector support.

Key facts for 2009:

• Contributed £45,450 to deliver training to local companies to support business resilience
• Delivered an additional 45 individual learning opportunities free of charge in areas where there is an identified skills shortage
• Given one to one careers guidance to 220 individuals
• Delivered career management workshops to 60 graduates
• Has £500,000 available to support students facing financial hardship
• Developed focussed workshops to help students plan their financial management
• Committed to providing 10 apprenticeship posts
• Secured 14 internships for unemployed graduates in local companies
• Absorbed increased energy costs to provide a cost saving to 86 business village tenants
• Promoting 8% rebate for companies participating in Knowledge Transfer Partnerships
• Invested in 17 graduate start up companies
• Offering subsidised post graduate courses (up to £1200 off course fees available).

Tel: 0800 169 2148

E-Mail: info@staffs.com

Web: http://www.staffs.com/

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