In an era where academic innovation increasingly intersects with real-world challenges, universities are discovering a powerful tool for creating societal impact: consulting.

Academic consulting represents a dynamic bridge between scholarly expertise and practical problem-solving, offering unprecedented opportunities for researchers to extend their influence beyond traditional academic boundaries. Recent analyses suggest that consulting work can provide universities with flexible income streams, foster critical partnerships, and demonstrate the tangible value of academic research to broader society.

Universities traditionally operate around three core missions: research, teaching, and societal impact. However, the landscape is evolving, with an increasing emphasis on commercial engagement. The number of intellectual property licenses has grown, and more spin-out companies are emerging, supported by standardized investment guidance and professionalized technology-transfer offices.

Consulting offers widespread benefits across multiple stakeholder groups. For higher education institutions, it generates flexible revenue during financially challenging periods and creates opportunities for collaborative research and joint ventures. Universities can reinforce their reputation as knowledge engines while generating meaningful economic and societal impact. A compelling example comes from the University of Southampton, where a small software team transformed open-source verification tools into over £600,000 of consulting income by advising on safety-critical railway systems between 2014 and 2021.

For individual academics, consulting provides remarkable professional development opportunities. It creates career pathways between academia, industry, and policy, opening leadership roles and offering direct feedback on how research translates into practical applications. The approach can also support innovative models like spin-out companies, where academics might serve as 'fractional executives' through consulting contracts, simultaneously contributing to entrepreneurial ventures and developing critical leadership skills.

From a societal perspective, academic consulting accelerates knowledge application across national priorities like clean energy, healthcare, and social policy. It provides a mechanism for organizations to leverage publicly funded research, ensuring academic expertise extends far beyond campus walls. Some institutions are already embedding innovative approaches, such as Henley Business School's industry-led consulting projects that give master's students hands-on professional experience.

Despite these compelling advantages, academic consulting remains an underdeveloped pathway for knowledge exchange. Current institutional frameworks often treat consulting as an administrative function, measuring and recognizing such activities inconsistently. By creating more supportive environments and recognizing consulting as a valuable form of research impact, universities can unlock tremendous potential for innovation, collaboration, and societal transformation.

As higher education continues to evolve, academic consulting represents a promising frontier—a strategic approach that connects scholarly expertise with urgent real-world challenges, creating value for researchers, institutions, and society at large.