Hefce transition fund

The Higher Education Funding Council for England has announced a transition fund between the winding-up of the Higher Education Reach-out to Business and the Community (Herobc) initiative and the introduction of its successor, the Higher Education Innovation Fund. Up to an additional £10 million will be available for 2003-04 to maintain continuity of funding and third-stream activity in institutions that have no Herobc funding for that year.