How Oxford University is Driving Business Growth
January 27, 2021
Oxford University is one of the leading universities in the world, ranked fifth in the list of the best global universities according to a report. There have been thousands of individuals who have graduated from Oxford and have excelled in their chosen careers. A few examples of these individuals are theoretical physicist Stephen Hawking, as well as former UK Prime Ministers Theresa May and David Cameron. These people have shaped different research processes and discoveries, and have also served countries in notable government positions. As such, Oxford is a hub for excellence, with more than 250 available postgraduate course offerings.
Brief History of Oxford University
According to its website, teaching has been recorded in the university as early as 1096. This made it one reason why Oxford is considered the oldest university in the English-speaking world, as well as the second-longest operating university.
During the reign of Henry II, English students were banned from attending the University of Paris. Thus, many students fled to seek refuge and education at Oxford University and Cambridge University, which were later on called Oxbridge. The ban led to the growth of the number of students in the university.
Over the years, Oxford became promising, and with elite professors and instructors, Greek languages that were almost forgotten had been revived. The university also paved the way for women to receive formal education through the Association for the Education of Women (AEW), formed in June 1878.
Contribution of Oxford University to Business and Economic Growth
A 2017 study discussed the university’s economic impact, wherein it supported 50,000 full-time jobs, contributed to around £5.8 billion to the UK economy, and £7.1 billion to the global economy.
Based on these figures, it’s no surprise that Oxford drives business growth through the following means:
As the leading institution for research, the university dramatically contributes to intellectual and human capital. With the number of partnerships Oxford University has forged throughout its years of research, the knowledge, training, and consultancies allowed businesses to flourish and improve their performance. Thus, businesses become more creative and can sustain their livelihood because of continuous brainstorming and many other technological advancements.
Research not only improves businesses, but it allows for discoveries that are helpful and contributory to the needs of the people. Research varies in different fields, and Oxford is on every single one. They not only focus on medical research, but the university prides itself on its ability to project business plans and directions accurately. This is why many Oxford graduates are successful.
The knowledge and skill imparted through research provide a chance for the world to change—especially in the business sector.
Establishment of New Businesses
Because of the rise of human capital, graduates seem to be getting more creative every year. While some people want to work for prestigious companies, others like building their empire by establishing new startup businesses. Today, there are a handful of billion-dollar startup companies created by Oxford graduates. Here are a few examples:
- LinkedIn by Reid Hoffman
- BenevolentAI by Ivan Griffin
- Funding Circle by Samir Desai and James Meekings
- Anaplan by Michael Gould
- Jumia by Allie Morse
- Blippar by Jessica Butcher
- Eventbrite by Kevin Hartz
These platforms are widely used worldwide and have helped make peoples’ lives so much better and convenient. With the pandemic at large, the tech industry has flourished undeniably and helped small businesses operate even during a difficult situation. Without the foundations of knowledge in Oxford University, these business founders and owners would not be able to establish such successful business ventures in such a short span of time. Likewise, many other businesses are starting to follow the footsteps of already successful startups like Caffeine Marketing, which is located at the heart of Oxford.
Imparting knowledge not only means nurturing students to be knowledgeable about their chosen field of expertise; it also means that these students are being prepared to take on a higher and more significant responsibility that equates to providing services to society. This means Oxford University is training students to become an excellent source of human capital. With thousands of students originating from different countries graduating every year, they will, in turn, present their learnings and apply them to their respective workplaces.
Graduates from Oxford University learn to be meticulous and have excellent attention to detail. This is because of intense training and proper theoretical foundations that provide a deeper understanding of every subject matter. Thus, when one graduates from Oxford, many people look up to them knowing that a top university known for excellence trained such individuals.
With Oxford known as a top university and an excellent one at that, many people flock to apply for entry in hopes that they will be given a chance to learn and study in a prestigious institution. More graduates are produced every year, and more businesses are getting the help they need to sustain their operations. Oxford University has been a massive hub for growth, and this should be continuously utilized so businesses can compete in an ever-growing and competitive market.