A review of the economic and social value produced through funding PhD students

UK Research and Innovation funded over £3bn into PhD-level study in 2022/23. The impacts of PhD study can have significant positive impacts on professional and personal development, especially for women, as well as generate significant returns for the individual, the Exchequer, industry, and university-industry collaborations. Still, there is a need to better understand the how PhD study fits into a place-based strategy, and civic role of universities, and their relationships with industry and place. This report shares the findings of a rapid evidence review into the economic and social impacts of PhDs to improve evidence and make an informed case for PhD study as part of a wider civic mission.