(NU/1920) Health Innovation Neighbourhood (HIN): Economic & Social Impact Evaluation

Section 19 of the application form (attached for reference) requires: an Economic impact, public benefit and value for money assessment including description of how the proposed infrastructure and research will generate sustained socio-economic returns from the UKRPIF investment.
The response could include, but is not limited to:
i. Translation and commercialisation of research (e.g., new IP; spinouts)
ii. Benefits to industry (from SMEs to large-scale multinational companies)
iii. Benefits to society
iv. Contributions to local economic growth
v. Job creation
vi. Attracting foreign direct investment (FDI)
Newcastle University requires an assessment that, in compliance with the application process and technical guidance which:

• Ensures the application satisfies, in full, the requirements for question 19.
• Provides all information and methodologies utilised or developed to Newcastle University for record, appraisal & audit scrutiny.
• Assessment may include statements including:
o Evidence demonstrating scale and significance of local problems & issues
o Quality assurance of data analysis and evidence
o Quantifiable impacts using a suitable model
o Methodologies to support assumptions
o Economic costs of the proposal
o Analysis of monetised costs and benefits
o Benefit Cost Ratios (BCR)
o Description of non-monetised impacts
o Value for money
o Proposed metrics to support monitoring & evaluation metrics

As question 19 is the question in relation to economic impact, public benefit and VfM we anticipate that the scope of work will be lighter touch at this application stage i.e., work will be in line with the expectations of the overall application form and process. There is a restriction of page length for the application of 24 pages (template equals 12 pages) thus we estimate a 500-word count per question. If successful then there will be a further option to undertake a longitudinal evaluation to evidence assessment assumptions, methodology and impacts during the activity delivery period (post-build).