In discussing the pathway to impact I draw upon a unique survey database covering over 18,000 academics in all disciplines in all universities in the UK in the period 2012-15. Carried out with colleagues at Cambridge Imperial and Bath, the survey gathered data on 28 knowledge exchange pathways in addition to spin outs and licensing. This enables a comparison to be made of variations in knowledge exchange pathways across disciplines and to highlight the specific patterns of engagement of Business School academics.  A picture of extensive engagement beyond spin outs and licensing emerges. This is reinforced by the findings of an earlier parallel survey of over 2500 UK businesses which will also be discussed. This reveals the much wider range of non-scientific technical expertise, for which businesses seek university advice and assistance (e.g. HR, Finance, Logistics).

This has implications for the development of engagement and impact activities in business schools, as well as for policy.

In particular, in the recent Green Paper on Industrial Strategy, one of the ten pillars upon which the strategy is based, is Science and Innovation and hence the role of universities. Nearly all the emphasis in the Green Paper is on Science Technology, Engineering and Mathematics (STEM) disciplines and within that on the role of spinoffs, start-ups and licensing.

In this seminar I will argue that this approach misses the importance of arts and humanities (STEAM not STEM) and more particularly the role of management (STEMM not STEM) in driving productivity and innovation.

Alan Hughes is Distinguished Visiting Scholar at LUMS, and Professor of Innovation at Imperial College Business School. He is Margaret Thatcher Professor Emeritus at University of Cambridge and Director Emeritus of CBR at Cambridge (Director from 1994-2013). He has advised governments on competitiveness, innovation, industrial policy, and manufacturing in UK Australia and Germany and was a member of the UK Prime Ministers Advisory Council on Science and Technology from 2004-2014. He has held visiting academic positions in France Japan, New Zealand, and Australia.

His research interests are in innovation and science policy and in the design and evaluation of industrial policy. He has long-standing research interests in the analysis of the growth, financing and innovative behaviour of large, and small and medium sized enterprises, including in particular takeovers, corporate governance and the market for executives. He has published extensively in all of these areas including in Economic Journal, Research Policy, Journal of Industrial Economics, The Journal of Business Finance and Accounting, Small Business Economics, Industrial and Corporate Change, Small Business Economics, Cambridge Journal of Economics, Journal of Technology Transfer, Journal of High Technology Management Research and Sloan Management Review. And importantly, Alan was a member of the University of Cambridge REF Impact Case Study Planning Committee and Director of the University's ESRC Impact Acceleration Account as well as researching the impact created through academic research across the disciplines.

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