UK universities have, in many ways, moved on from the old, disengaged “ivory tower” perceptions of the past. In many towns and cities, the role of a modern university encompasses much more than exclusively being an institution for education and research. Universities are large, locally-embedded establishments, and often bring a positive economic, cultural and social impact to their home city: so much so, that the concept of UK universities as ‘anchor institutions’ is becoming increasingly important.
Coined in the US, the term “anchor institution” describes a nonprofit institution – often in unsettled or deprived areas – that can bring significant socioeconomic benefits to their local community by providing employment and collaboration opportunities and fostering existing initiatives: the most common of which are universities and hospitals.