Institution news
Dear Member,
With Christmas time approaching young children might be disappointed not to see Rudolph plus sledge go flying by in the night sky. Maybe they will see the International Space Station (ISS) zooming by at 17,500 mph some 260 miles overhead; that might provide some excitement.
The ISS featured in a superb Thomas Hawksley lecture on 5 December by Mike Lawton CEO & Founder of Oxford Space Systems. His entrepreneurial company is engaged in a new generation of deployable satellite antenna that are an integral part of each spacecraft. These antenna need to be lighter, less complex and lower in cost, and to do this the company focuses on the development and manufacture of its space-proven propriety materials that build on the engineering of carbon fibres. A key resource requirement is top range engineers, including chartered mechanical engineers, both now and in the future. Mike and his company are therefore active supporters of STEM activities in schools and colleges in the UK and strongly believe in the need to excite the UK’s future generation of engineers.
Our Institution has of course also been very proactive in supporting and promoting STEM, building up its resources during the 2018 ‘Year of Engineering’ Government-led initiative. We claim that no other professional engineering institution is more committed to education and ensuring that there is a healthy supply of engineers for the future than ourselves. The last time we looked we had 3,779 active STEM Ambassadors who, through 4,500 events, have engaged approximately 150,000 school children in 2018 alone. Along with IET, we have established the Engineering Education Grant Scheme, which has delivered £1.1 million worth of engineering engagement to young people since 2015 - a five-fold return on our own £210,000 investment. Importantly the various projects funded through the grant scheme have reached approximately 200,000 young people at a cost of £3.40 per pupil – offering both quality and good value for money.
Meanwhile, following a challenging start to 2018, the Trustee Board this week saw that our year-end financial results will not be good. We did however commit to a business plan which will determine a more secure and sustainable direction for the future. It is built on more realistic management objectives which continue to address the required charitable aims, but encourage more active involvement by members for the benefit of engineers while supporting measures for improved performances in the trading companies and PEP. In addition, the Finance Review itself has made good progress against its remit with a presentation of its interim report; we will make this available on the IMechE website in the next two weeks after we have shared it with Council. The Governance Review is also up and running and is starting to get input from across the Institution.
As ever in looking to the future, 2019 will undoubtedly bring both potential opportunities and some downside risks related to our activities, but you can be sure the Trustee Board will respond in a constructive manner to seek collaborative solutions in the best interest of the Institution.
In thanking you for your many letters of encouragement and your considerable support over the past five months, may I take this opportunity to wish you and your families my very best wishes for Christmas and 2019.
Tony Roche
President