South East Technological University\u2019s (SETU) total impact on the Irish economy has been valued at \u20ac1.05 billion, according to the University\u2019s Economic and Social Impact report published this week.<\/p>\n
The report, commissioned by SETU and prepared by Indecon International Economic and Strategic Consultants, was officially launched at SETU\u2019s Cork Road Campus in Waterford.<\/p>\n
The study represents the most comprehensive assessment to date of SETU\u2019s economic and social contribution, independently examining its operations and employment outcomes, social impact, employment prospects and lifetime earnings of its graduates, and the far-reaching effects of its research and innovation activity.<\/p>\n
Among the students surveyed by Indecon, 16% said they would have been unlikely or very unlikely to pursue higher education without SETU.<\/p>\n
A further 10% indicated they would have studied outside Ireland had SETU not existed.\u00a0SETU is playing a key role in retaining its graduates\u00a0with employment patterns showing\u00a037% of graduates remain in the region to work.<\/p>\n
Contribution to the South-East<\/p>\n
Welcoming the attendees to the launch, Professor Patrick Prendergast, Chairperson of SETU\u2019s Governing Body said the study \u201ccaptures, in clear and objective terms, the scale of SETU\u2019s contribution to the South East and to Ireland as a whole since its establishment three years ago\u201d.<\/p>\n
Noting that Indecon\u2019s findings recognise that SETU delivers major educational, economic, and social benefits, Prof. Prendergast said, \u201cThe total estimated economic impact of the University stands at an extraordinary \u20ac1.05 billion.\u201d<\/p>\n
Prof. Prendergast outlined the need for continued funding to realise SETU\u2019s strategic ambitions and future capital projects, noting that this investment is critical to driving economic development in the South East.<\/p>\n
Professor Veronica Campbell, SETU\u2019s President, said the figures highlight the profound and lasting impact of a university that is \u201ctransforming lives, powering enterprise, and shaping Ireland\u2019s sustainable future\u201d.<\/p>\n
\u201cThe study shows that our 2023 graduates alone will generate \u20ac634 million in lifetime returns. Nearly 70% of those surveyed told Indecon that studying at SETU has significantly improved their employment prospects, and just over 60% reported greater earning potential as a direct result of their degree,\u201d Prof. Campbell said.<\/p>\n
Prof. Campbell noted that SETU\u2019s wider operations are delivering substantial returns of \u20ac350m to the region.<\/p>\n
\u201cSETU supports over 3,600 jobs both directly and indirectly, employing a network of staff across disciplines and professions at its campuses spanning the South East. We are one of the region\u2019s largest employers. Our international students also enrich our campuses and communities, contributing \u20ac28 million every year to the regional economy,\u201d she explained.<\/p>\n
Prof. Campbell said SETU\u2019s research and innovation engine is equally important to the South East\u2019s future.<\/p>\n
\u201cOur innovation activity now generates \u20ac35 million in economic value, supporting new jobs, new discoveries, and a growing pipeline of commercial spinouts. We are the leading technological university in Ireland for Horizon Europe funding, having secured \u20ac12.8 million to date, and with eight active spinouts, we are supporting an innovative and entrepreneurial region,\u201d she said.<\/p>\n
Prof. Campbell said the findings reflect SETU\u2019s ambition to become a leading global technological university and a catalyst for innovation and regional growth.<\/p>\n
\u201cOur graduates are significantly enhancing the region\u2019s skills base and competitiveness. Our research collaborations are expanding the innovation capacity of both Irish and international firms, and our partnerships are directly influencing investment decisions,\u201d she said.<\/p>\n
The University is empowering people and communities with the annual value of volunteering efforts of staff and students reaching \u20ac1.4m. \u201cOverall, SETU\u2019s regional presence contributes to community wellbeing, civic leadership and cultural vibrancy,\u201d Prof. Campbell added.<\/p>\n
For the latest Waterford\u00a0News<\/a>\u00a0and\u00a0Sport<\/a>,<\/a>tune into WLR News on the hour and download the WLR App for news on demand<\/p>\n \u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"South East Technological University\u2019s (SETU) total impact on the Irish economy has been valued at \u20ac1.05 billion, according…\n","protected":false},"author":2,"featured_media":163670,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60,91218],"class_list":["post-163669","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland","tag-setu-report"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/163669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=163669"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/163669\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/163670"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=163669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=163669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=163669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}