Watching Craig Clark MBE receiving the Chancellor’s Medal from the University of Strathclyde at their annual dinner last week reminded me, if I needed reminding, that our universities are crucially important in growing Glasgow’s economy. Mr Clark, founder in 2005 of Clyde Space Limited, was rightfully recognised for his role in shaping Glasgow’s space industry into one of the largest hubs of pocket satellite production in the world. In his acceptance speech he paid tribute to the university’s support for his work.

Next year will be Strathclyde’s diamond jubilee marking 60 years since the signing of the Royal Charter which gave Strathclyde its university status. Principal Sir Jim McDonald counted more than 200,000 graduates from across 100 countries proudly calling themselves Strathclyders. I am privileged to include myself in that list. It is with their help - alongside thousands of graduates from Glasgow’s other, increasingly successful, universities - that the city’s new industries in engineering, health and life sciences, finance and the creative sectors are being built.

Twice recognised as the Times Higher Education University of the Year, Strathclyde is leading two major investments that will turn aspirations for these sectors into reality. The Glasgow City Innovation District with the University Merchant City campus at its heart already has a packed Technology and Innovation Centre alongside the Inovo complex, which houses several technology companies and research agencies. Another innovation centre is planned drawing on the £50m donated in 2021 by philanthropist Charles Huang. Property provider Bruntwood SciTech is also refurbishing the Met Tower into a £60m digital hub. Sir Jim announced that some 1,600 companies now have a presence in the district.

The other investment is in the Advanced Manufacturing Innovation District next to Glasgow Airport which is already home to the National Manufacturing Institute Scotland and the Medicines Manufacturing Innovation Centre both officially opened in the last 12 months. These are crucial organisations devoted to improving the productivity of our manufacturing industries.

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The value of our universities in helping Glasgow respond to dizzying technological change is hard to overstate and I could add more on the international opportunities they create through the fast-growing network of foreign graduates and commercial research relationships. On the same day as the university’s celebration, I heard an equally striking explanation from a senior leader in the maritime sector of the importance of the city’s colleges in providing the technical skills he desperately needs to grow his firm. The financial challenges facing the college system are becoming very clear and there is a real risk that an argument will be framed that asks for funds to be transferred from the universities to help out the colleges. I know the Chamber’s members view the supply of skills to be the most important contribution governments can make in growing their businesses. I suspect they would prefer to see education budgets given top priority so that there is no need to choose between universities and colleges.

When the First Minister set out the framework for his administration’s Programme for Government last month, he made it very clear that he was anti-poverty and pro-growth and the key announcement was for an increase in resources for child care.

The section in his speech on education and skills was fairly brief and emphasised the introduction of a new qualifications agency and the reform of the skills delivery landscape following the Withers Report. I don’t doubt that each of these issues is important to the success of our education system but the decisions made on the budgets allocated to our schools, colleges and universities must surely be a clearer test of our commitment to world-class education.

Every year when the school exam results are published Glasgow Chamber runs a social media campaign showing how the leaders in our society achieved their success. The routes are always varied and often unexpected. But the consistent message is that colleges and universities are equally important. Let’s make education the first call on our budgets this year.

Stuart Patrick is CEO of Glasgow Chamber of Commerce