Annual Report - RDI and business operations
RDI activities reached new records
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External R&D funding soared to a record figure of EUR 8.3 million, representing an increase of 18% compared to 2022. Particular growth was achieved in ESF funding and EU framework programme funding, both of which increased by about one quarter. In three years, Laurea has almost doubled the amount of external R&D funding it has at its disposal. Figures for recent years: 2020, EUR 4.3 million; 2021, EUR 4.7 million; 2022, EUR 7.0 million; and 2023, EUR 8.3 million. Our success was made possible by the expert preparation of our project applications and excellent improvement in how Laurea completes its project work within the planned schedule.
The guiding principle of our RDI activities is their societal impact. FINEEC’s Quality Label of Excellence in higher education is proof of Laurea’s exceptionally high-quality development work, especially in the field of research, development, and innovation activities. FINEEC’s evaluation group highlighted multiple reasons for choosing Laurea, such as Laurea’s pioneering role in developing its societal interaction and operating methods, as well as Laurea’s demonstrations of its exceptionally effective RDI activities and their development.
Laurea’s business turnover decreased slightly from the previous year. Laurea’s business turnover, when excluding Bar Laurea, its teaching restaurant, was EUR 2.9 million in 2023. Laurea’s turnover consists mainly of education exports (EUR 1.1 million), sales of education services in Finland (EUR 1.1 million), and Bar Laurea’s operations and other student work (EUR 400,000 in total). The rest of Laurea’s turnover is generated by a variety of sources, such as events, key partnerships, consulting services, and sales of supplies.
The majority of Laurea’s education exports consist of commissioned education. The scope of the education commissioned by the Uasin Gishu province in Kenya was smaller in 2023 than in previous years, and while the year saw the launch of new commissioned education projects, the volume of education exports as a whole decreased from the level recorded in 2022. In domestic education services, Laurea managed to increase the turnover of MAPA® training (MAPA = management of actual or potential aggression), and MAPA® products accounted for roughly one half of the revenue from domestic education services.
Since 2019, Laurea has established key partnerships to strengthen its employer networks for students and improve the quality of their employment. The partner network is maintained in a goal-oriented manner and systematically activated to strengthen the R&D activities and business operations of Laurea. At the end of 2023, Laurea had 101 key partners.
- External R&D funding increased to a record figure of EUR 8.3 million
- Strong continued growth in EU framework programme funding
- Laurea had 101 key partners by the end of 2023.
Key Figures
H2020 projects underway in 2023: 14
External funding for RDI activities in 2023: 8.3 €M
Number of project applications in 2023: 160