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UK universities have long projected intellectual power across the globe. But the harsh reality is that the nation as a whole has failed to convert academic brilliance into economic advantage beyond international student revenue.

The UK¡¯s position at the bottom of G7 productivity rankings for life sciences ¨C for which our universities are famed ¨C tells a sobering and long-lamented story. Despite efforts to address it, such as Catapult centres and the impact agenda, we still celebrate Nobel prizes while watching our innovations commercialised elsewhere.

But as we navigate a post-Brexit landscape and an increasingly fractured global order, this disconnect between research excellence and commercial application at scale is no longer merely disappointing ¨C it is deeply damaging?for universities and the economy.

Education secretary Bridget Phillipson¡¯s message is clear: universities must propel economic growth while enhancing student outcomes. Yet the government is also focused on fiscal discipline, so even as universities face unprecedented financial pressures, we can no longer expect the taxpayer to underwrite inefficiencies or outdated practices. Nor can we expect international student revenue to bail us out, given the government¡¯s determination to limit immigration.

This moment of constraint, however, presents a transformative opportunity.

Aston University¡¯s latest report,, urges UK universities to redefine themselves ¨C not as isolated domains of academic excellence, whose primary mission is to conduct academic research and teach students, but as dynamic enterprises deeply integrated with local industry and community.

Some of this is already happening. The?exemplifies this approach, creating innovative zones where cutting-edge research, commercial applications and societal challenges are addressed. In post-industrial cities across the UK, such precincts are becoming engines of revival, generating high-skilled employment and fostering entrepreneurial ecosystems that retain talent locally, rather than losing it to London or overseas.

We at Aston have , however, developing this innovative strategy into what amounts to a ¡°city within a city¡±. This not only contains start-up accelerators and business incubators but public spaces, housing, community maker spaces and health and recreational facilities, all within a precinct soon to become the first net zero emissions campus in the Midlands. All this is oriented towards one goal: driving productivity growth and socio-economic transformation through the cross-pollination of ideas.

We have also built a to enable the of research and innovation at scale and pace. Our portfolio of Knowledge Transfer Partnerships proves that this approach delivers measurable results, with an independent evaluation forecasting that our portfolio will generate ?266 million in pre-tax profit for company partners and 541 new jobs within three years of completion.

The most forward-thinking institutions have adopted the ¡°quadruple helix¡± model of innovation, integrating academia, industry, government and society. This approach has transformed Aston¡¯s engagement with stakeholders, focusing our efforts on health technology, , digital and engineering technologies, and biological sciences, which are areas aligned with national priorities and offering substantial employment prospects.

However, the widespread adoption of this model faces significant barriers. One is a mistaken perception that commercialisation threatens academic independence. In fact, strong governance protects intellectual integrity while enabling meaningful partnerships that complement and enhance, rather than compromise, research excellence.

Another hurdle is outdated performance metrics that, notwithstanding the impact agenda, continue to prize publication counts and academic citations over real-world outcomes and measurable socio-economic benefits. And substantial infrastructure development and deep industry collaboration are impeded by the perpetual uncertainty that comes with project-based funding ¨C a staple of British research support, particularly as quality-related support (QR) diminishes in value. The government¡¯s promised 10-year R&D budgets must prioritise strengthening academia-business collaboration.

The government¡¯s focus on skill levels 1 to 5 (that is, up to the level of foundation degrees) is also insufficient. High-value sectors, such as artificial intelligence, advanced digital technologies, advanced manufacturing and creative industries, require sophisticated capabilities that only degree-level study can deliver at scale. Yes, we must align our educational offerings with market realities but university-led programmes, designed in partnership with policymakers and industry, could deliver these capabilities by adopting agile, digitally enabled modes of learning ¨C perhaps in partnership with specialised private education providers.

The alternative is that industry will press on ahead without universities. The uncomfortable truth, especially for traditional institutions, is that the lines between industry and education are dissolving. Global technology giants ¨C Google, Amazon, IBM, Siemens ¨C are already among the world¡¯s largest training providers. Soon, they will either embed themselves within universities or establish competing education institutions.

Universities¡¯ response must be proactive rather than defensive. No institution can any longer afford to rest on its laurels or hide behind a heritage of ¡°dreaming spires¡±. In a rapidly evolving global landscape, those institutions ¨C and, indeed, those nations ¨C that fail to embrace this new paradigm will inevitably fall behind.

For centuries, British universities have shaped minds. Now, they must reshape our economy, or risk becoming magnificent relics of a bygone era.

Aleks Subic is vice-chancellor and chief executive of Aston University.