The University of Reading’s collaborative work with business has been recognised by a major increase in funding.

The Higher Education Funding Council for England has almost doubled the university’s business funding for 2010/11 to £1.9 million, putting it on a par with Oxford and Cambridge.

The boost comes after the university’s Science and Technology Centre on the Whiteknights campus reported a significant increase in the take up of space by hi-tech businesses.

There are now close to 40 technology and early stage companies on site.

The university also runs a major programme of skills training, with the total value of all courses offered to the local community now standing at £4 million.

David Gillham, director of research and enterprise services at The University of Reading, said: “A key strength of our university is the way in which we interact with business and the community in the Thames Valley and beyond.

“This new round of the Higher Education Investment Fund is recognition of the work we have done with business in recent years, from collaborative research to our successful Knowledge Transfer Partnership scheme.

"With this new tranche of money, there will be greater opportunities for us to share our expertise and for local businesses to work with us.”