Windfall cash from a spin-off technology company has boosted the fortunes of a Manchester university.

Sales of shares in Knowledge Support Systems, the Manchester company founded by Professor Madan Singh, which provides businesses with software allowing them to improve profits by monitoring competitors, was nearly £9m gross compared with £2.4m the previous year.

The proceeds helped the University of Manchester's Institute of Science and Technology to a pre-tax surplus of nearly £4.2m, and have effectively underwritten further investment in new high-technology firms, new buildings and contributed to the funding of recurrent costs of the university, according to its annual report.

Research strengths continue to distinguish UMIST. Grants from the funding council increased as a result of its many new activities, but reliance on such grants has reduced as it continues to expand its income from non-public sources.

Now it is to build a £30m research centre, which will be an important focus for the life sciences.

In his review of the year, Principal and Vice-Chancellor Professor John Garside says that in its recent strategy review UMIST has looked at ways in which it can exploit entrepreneurial opportunities.

Evolution

He said: ''In the rapidly changing world of high education, universities need to evolve if they are to grow and become stronger.

''UMIST has a world-wide reputation for excellence in teaching and research, and for being responsive to the needs of business.''

The university is at the forefront of innovation and technology transfer in the UK. For example it is aiming to make the North of England a world aerospace centre to rival Seattle.

In collaboration with the Universities of Manchester and Sheffield it is leading a consortium to establish a research institute that will help consolidate the region as a world aerospace site, having won a £4.1m higher education innovation fund bid.

Other research achievements highlighted include the work being done on the link between motorway lighting and driver fatigue. The review also showcases UMIST's work with industry.

Its department of textiles, for example, has given birth to a ground breaking high fashion company, Nahyati, which is expected to push forward the boundaries of new technology in knitwear.

Another spin-off company, the psychology firm Robertson Cooper, headed by professors Cary Cooper and Ivan Robertson was commissioned by the Treasury to carry out a stress audit on high-ranking civil servants.

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