 Rolls Royce is a modern company is no longer directly associated with making luxury motorcars. Today Rolls Royce is what we call a power systems company. In the air in particular we produce the trend engines which power many of the wide body jets flying around the world today. I became technical director in 1989 and had responsibility for the funding of the research in universities. I came forward with a proposal which was that we would offer five years funding in return for which the universities would recruit a certain skill set and would work on problems in a particular technical discipline. And these centres that we set out were then given the name of university technology centres. You've got something like 18,000 components precision made in an aero engine. The fan on a Trent 900 engine which powers the A380 airbus is about a 10-point in diameter about 22 blades and they're made by a very advanced manufacturing process. The research that was carried out at Cambridge was key in developing the shape and aerodynamics of that blade. Southampton contributed significantly to understanding the burst of noise and how you remove it from engines. These blades have to withstand the impact of birds and then they have to still continue to operate. So there's a whole range of UTCs that contributed to one component. We've built a network today of 28 university technology centres worldwide. 19 of those are in the UK because of our heritage, but nine are now outside the UK. It's important to engage universities because they bring a freshness to our research. The university technology centres are staffed and manned by university people, not Rolls Royce people. And a good university technology centre will probably have around 40 people working in it, all ranging from professors down to individual research students. One of the very first university technology centres was in Oxford, and most recently we've moved the Osny laboratories in Oxford to brand new facilities paid for partly by the government, partly by Oxford University and partly by Rolls Royce. Five years is a very short time in most of the industries we operate in, so technology there has to be tried and tested and well proven. We have a process of trying to work out what products we will need in the future and what technology we will need for them in order to satisfy the customer. And so out of that comes the research and out of that we distill it down with the UTCs to try and work out what it is we should work on. I have to convince the chief executive that this money is well spent and it might not give results immediately. Now the beauty of the UTC system is you get long term contracts, you can keep really good researchers together. The thing about planning it is to have a reasonably long timeframe and be prepared to wait for the results actually to come. We did an audit and something like 70% of the information that had been transferred to Rolls Royce had been used either in products or in design processes. The value that contributed was far greater than the cost that we had invested in the centres. University technology centres are not just about delivering technology, they also deliver skilled people. You'll see over years in the future quite different aero engines and that will raise major new areas of technology. The university technology centres are absolutely key in getting on the shelf the technology we need for those future challenges. Rolls Royce has a very strong brand and in choosing a UTC we look at world-class universities and even within those universities we look for world-class researchers and professors who have a higher steam in the academic world. So it's in our interest not to dilute the brand but I think the university is also gained by close association with Rolls Royce both in terms of recruiting students for the future and their own image in the outside world.