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<p>The Government’s target to reach a total of 2.4% of GDP invested in R&D by
2027 will mean increasing the numbers of highly trained people working in research
and innovation including those undertaking doctoral training.</p><p> </p><p>Business-academia
collaborations, decisions by internationally mobile companies to locate their R&D
functions in the UK and the development of industrial clusters of companies all rely
on access to pools of talented researchers. In addition, industrial clusters, particularly
in the pharmaceutical industry, are often co-located in regions where there are also
high quality research intensive universities. This co-location enables the flow of
graduates and post-graduates between institutions and companies.</p><p> </p><p>More
broadly, a 2015 review on the impacts of doctoral training found that the overwhelming
majority of doctoral graduates continued to be involved in the creation of new knowledge,
innovation and development of new products and processes, both in the academic and
business sectors. Employers highly valued the specialists knowledge and problem-solving
skills possessed by doctoral graduates. <a href="https://www.ukri.org/files/skills/full-report-idc-pdf/"
target="_blank">https://www.ukri.org/files/skills/full-report-idc-pdf/</a></p>
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