HEFCE is seeking to explore the potential of some HEIs to play a greater role in fostering productivity and economic growth through making third stream activity their second mission focus, after teaching.

To research this new area, the HEFCE has initiated various experimental projects which will aim to demonstrate the potential benefits to the economy of such third-stream focused HEIs. De Montfort University's involvement comprises a pilot of an Innovation Exploitation Vehicle for The East Midlands, called ProspectIP. This organization provides a comprehensive delivery vehicle for the commercialisation of intellectual property (IP). ProspectIP aims to find, evaluate and develop latent IP, in the region, and raise awareness and skills in SMEs. See link on HEFCE website