2013–14 Annual Report and Accounts and Report Annual Imperial College London Annual Report and Accounts | 2013–14 OUR MISSION Imperial College London embodies and delivers world class scholarship, education and research in science, engineering, medicine and business, with particular regard to their application in industry, commerce and healthcare. We foster multidisciplinary working internally and collaborate widely externally. On the cover: Undergraduate Ememobong Udom (Natural Sciences) working in the zebrafish lab. She is researching the impact of a Western-style diet on inflammation and immunoregulation using zebrafish. To read more about how researchers at Imperial work with animals, please visit www.imperial.ac.uk/research/animal-research CONTENTS 2 Imperial at a glance 4 President’s foreword 5 Senior staff 6 Five year summary of key statistics 7 Financial review 12 College news 1 14 Awards and honours 16 Research 20 Education 22 Translation 24 Community and public engagement 26 Staff news 28 Estate developments 30 Public benefit statement 32 Corporate governance 34 Responsibilities of the Council 35 Council and Council committees 39 Independent auditors’ report 40 Consolidated income and expenditure account 41 Balance sheets 42 Consolidated cash flow statement 43 Statement of consolidated total recognised gains and losses 44 Statement of principal accounting policies 46 Notes to the accounts If you would like to follow Imperial on social media or sign up to receive regular news from the College, including details of public events, please visit www.imperial.ac.uk/ar2014. 2 Keith Wolstenholme, Workshop Technician in the Faculty of Engineering, with Tereze Gaile, recipient of a President’s Scholarship. Imperial at a glance 14,735 £449m Full-time students at Imperial Imperial’s 2013–14 income College London in 2013–14 from research grants, research contracts and HEFCE’s research grant 3 2nd £54m Imperial’s position in The amount secured through the QS World University fundraising in 2013–14 Rankings 2014–15 3,692 4.0% Number of full-time equivalent Percentage by which the academic and research staff College’s income increased at Imperial during 2013–14 President’s foreword corporation, to bring the iKnife to market so that patients can benefit as soon as possible. GREAT PEOPLE Our academic successes would not be possible without the combined efforts of our community of students, researchers, professional staff, alumni, collaborators and supporters. Supporting and developing this community will be crucial for our continuing achievement. Our brilliant, ambitious, and cosmopolitan students propel Imperial forwards. I have met 4 students who balance their academic work with starting companies, achieving international sporting success, serving their community and mentoring fellow Since becoming President in September 2014, I have Professor Dot Griffiths, former Dean students. I encourage all of our been consistently impressed by the quality and passion of the Business School, accept the friends and alumni to visit Imperial of Imperial’s staff, students, alumni, friends and partners. Provost’s invitation to serve as and meet our inspirational students. Imperial people are at the forefront: pursuing research his envoy for gender equality. from the subatomic to the interstellar; driving innovation We are increasing our investment in from student hackspace start-ups to major partnerships the student experience to help our students to unleash their creativity, with industry. Given the range and scale of Imperial’s ACADEMIC EXCELLENCE work, no annual report could hope to capture more independence and curiosity. Our The desire to achieve academic than a snapshot of this brilliant institution. I outline Vice Provost (Education) Professor excellence and push the boundaries in this foreword a few of the themes highlighted in our Debra Humphris is leading a team of discovery and innovation achievements in 2013–14 and informing our work to implementing a plan to nurture underpins all that we do at Imperial, define Imperial’s strategy for the years ahead. innovation in teaching and learning, and is our motivation as we seek to enhance academic and professional The achievements of the past year are testament to advance over the coming years. services, and cultivate our world- Sir Keith O’Nions, my predecessor, who led the College class student community. Imperial’s We are proud to celebrate a broad for the period covered by this report. I am grateful to him impressive new halls of residence, and diverse range of academic for assembling a wonderful leadership team, supported currently under construction at One achievements this year. Whether by our outstanding Council led by Baroness Manningham- Victoria Road, demonstrate one it’s Professor Sir John Pendry’s Kavli Buller. They have made many far-sighted decisions. facet of this commitment. prize-winning work on metamaterials or our Business School’s work with It is no wonder that our graduates the UN to tackle food shortages, the go on to greater career success than LEADERSHIP Imperial community is pushing the those from any other UK university. One of the important decisions made by Imperial boundaries of discovery to make Few universities have such an College London was to change the leadership structure the world a better place. inventive, international and high- to a new President and Provost model. Professor James achieving alumni network. It has In particular, Imperial’s ability Stirling, who joined us in August 2013, led the way as the been a pleasure to meet so many of to turn ideas into inventions that first Provost. He ably leads the College’s core academic our graduates to gain their insights improve quality of life and the mission of education, research and translation. This into Imperial’s past and future. quality of our environment has allows me, as President, to devote more time to the We can, and will, do even more to been repeatedly highlighted in College’s strategy and engagement with government, engage this inspiring community. the past year. One such recent industry, philanthropists and alumni. innovation is the ‘iKnife’ developed We are also making College a more James has recruited Professor Tom Welton, Head of the by Dr Zoltan Takats and colleagues welcoming environment for everyone. Department of Chemistry to become the new Dean of in the Department of Surgery and Imperial College London is one of the Faculty of Natural Sciences beginning January 2015. Cancer. This ‘intelligent knife’ allows a handful of universities to have Professor Maggie Dallman, who has led the Faculty since surgeons to rapidly and accurately achieved Athena SWAN silver status 2008, will now take up appointment as Associate Provost detect cancerous tissue. He is now for supporting women in science, (Academic Partnerships). We are also fortunate to have working with Waters, a major US with 13 individual departments SENIOR STAFF Professor Alice Gast, Professor Sir Keith O’Nions, President President & Rector (from 1 September 2014) (until 31 August 2014) also receiving awards including the Entrepreneurs, investors and inventors distinction of gold status for Chemistry. alike are attracted by the possibilities We also have grassroots campaigns we are creating at Imperial West, and like Imperial 600, supporting LGBT I look forward to their rapid attainment staff, and we are proud to be the in the months ahead. first UK university to receive GIRES recognition for our commitment to Professor James Stirling, Professor Anand Anandalingam, Provost Dean, Imperial College equal opportunities for transgender INVESTMENT IN BIG IDEAS Business School staff. I am determined to build upon Imperial is a great university and we this momentum. intend to maintain our financial strength to support academic excellence in research and teaching while providing COLLABORATION space for growth and new ventures. The world’s most complex challenges The College fulfils its mission Professor Donal Bradley, Professor Maggie Dallman, cannot be solved by working in Vice-Provost (Research) Dean, Faculty of Natural thanks to the support from a broad Sciences isolation. Imperial is distinctive for its range of sponsors. The Government, strength in engaging partners across the Funding Councils, corporate, disciplines, sectors and nations to charitable and philanthropic supporters create discoveries and innovations and our students all enable us to leading to transformational change. 5 deliver excellence. As just one example, this year we This was a record-breaking year Professor David Gann, Mr Simon Harding-Roots, launched the Data Science Institute Vice-President (Development Chief Operations Officer for philanthropy at the College with and Innovation) directed by Professor Yike Guo. pledges exceeding £50 million and This institute works across the donors numbering 5,400. These donors four faculties with global university create opportunities for Imperial and corporate partners, like KPMG, students and scholars and improve Huawei, Intel and Zhejiang University, the lives of the very many people to create and find value in an who benefit from our work. increasingly data-rich world. Dr Simon Hepworth, Professor Debra Humphris, Our broad and engaged community of Director of Enterprise Vice-Provost (Education) This is one more way we augment donors support 110 scholarship students our multidisciplinary approach to who joined the College this autumn. grand challenges. Imperial’s Institute They are joining a university of big ideas