In an era where academic research increasingly seeks real-world relevance, university experts are discovering a powerful pathway to societal transformation: consulting.

Universities have traditionally balanced three core missions - research, teaching, and societal impact - but the landscape is rapidly evolving. With intellectual property licenses increasing and spin-out companies proliferating, academics are finding innovative ways to translate scholarly expertise into tangible solutions.

Consulting represents one of the most direct mechanisms for academics to shape industry, government, and civil society. Currently underutilized, these professional engagements offer widespread benefits that extend far beyond traditional academic boundaries. Universities can generate flexible income streams, while researchers gain professional development, expanded networks, and meaningful real-world experience.

The financial and strategic advantages are compelling. At the University of Southampton, a small software team transformed open-source verification tools into over £600,000 of consulting revenue by advising on safety-critical railway systems between 2014 and 2021. Such examples illustrate how academic knowledge can directly contribute to technological and societal advancement.

Beyond monetary gains, consulting creates critical career pathways between academia, industry, and policy sectors. Researchers can become 'fractional executives' in spin-out companies, develop leadership skills, and receive direct feedback on practical applications of their work. This cross-pollination enriches research cultures and ensures academic insights address national priorities like clean energy, healthcare, and social policy.

Forward-thinking institutions are already integrating consulting experiences into educational frameworks. Henley Business School, for instance, has developed industry-led consulting projects for master's students, providing hands-on experience that better prepares graduates for complex professional environments. Such initiatives demonstrate how consulting can become a structured learning opportunity.

For universities facing increasing financial pressures, consulting offers a strategic solution. By facilitating these knowledge exchange mechanisms, institutions can strengthen partnerships, generate alternative funding sources, and reinforce their reputation as dynamic engines of applied knowledge. The potential is immense: transforming academic research from theoretical exploration to practical, impactful solutions that directly benefit society.

As higher education continues to evolve, consulting emerges not just as an optional activity, but as a critical pathway for universities to demonstrate their value, engage with real-world challenges, and prepare the next generation of innovative professionals.