Heriot-Watt's Economic Impact launchedDate:
With news that Heriot-Watt generates £278M a year for the Scottish economy, the University's Economic Impact was launched at the Scottish National Portrait Gallery.
It is also estimated that the University supports over 6,000 jobs, with overseas income estimated in the region of £74m.
Including the Institute of Petroleum Engineering, it is reckoned that Heriot-Watt University generates 10% of Scotland's educational exports, while receiving about 4% of Scottish public funding for higher education.
We have ambitious plans for the future and I look forward to continuing to strengthen our capacity in supporting business, industry and the wider economy.Professor Steve Chapman, Principal of Heriot-Watt University
To further emphasize our position as one of the UK's leading Universities, the report showed that the average Heriot-Watt graduate can expect 14% more lifetime earnings than the average for graduates across other universities, according to the study.
Professor Steve Chapman, Principal of Heriot-Watt University, said: “This report is great news for Heriot-Watt and the Scottish economy. I’m very proud our contribution is so significant and that we can show lasting benefits in increased earnings for graduates, jobs for businesses and growing international exports.
“We have ambitious plans for the future and I look forward to continuing to strengthen our capacity in supporting business, industry and the wider economy.”
Additionally, the Converge Project Evaluation was released, detailing the success of the University's Working with Industry strategy. The report showed that the project offered a distinctive new approach to industry engagement that can be considered a model of best practice in the Scottish university sector.
The event at the newly refurbished Scottish National Portrait Gallery in Edinburgh drew a large gathering of MSPs, industry executives, media, entrepreneurs and Heriot-Watt staff to welcome the report. Talks by Steve Chapman and Schlumberger UK Chairman, Gordon Ballard explained the good work the University has undertaken in recent years, and how collaborations between businesses and industry are mutually beneficial.
You can download the full economic report and the Converge evaluation.