(Not just) Open for business: redefining the value of a university knowledge exchange

Existing literature on university knowledge exchange, whether approving or critical, tends to assume that it is the economic value of knowledge that produces opportunities for exchange. Taking as a starting point the contention that this need not be the case, this study examines afresh the nature of knowledge exchange and its value to society. In doing so, it makes reference to the policies of the UK, Welsh Assembly and Scottish Governments, to the approach of the Universities of Leeds, Cardiff and Edinburgh, and to the experiences of academics engaged in social and scientific knowledge exchange projects. Whilst each Government is shown to prioritise economic ends, academics value making a difference to others, increasing personal or institutional kudos and engaging in interesting and exciting projects more highly. Although it remains possible for academics to carry out knowledge exchange with this broad range of outcomes, the mismatch between academic and governmental priorities is problematic. Failure to redefine the value of knowledge exchange to encompass a broader range of outcomes is liable to have implications for Government, for academia and for society: a lack of alignment between policy drivers and academic motivations makes it less likely that policy will achieve its desired ends; universities that fail to accommodate a broader value set risk losing academics to institutions that do; and in failing to provide sufficient space for the conduct of a broad-based knowledge exchange, policy makers will prevent the benefits of academic knowledge to society from being maximised. Universities are shown to be well placed to effect a change in the way that value is defined. However, certain structural issues militate against such a change, and academics and their universities will therefore need to be bold in asserting alternative value