Salford Professional Development was launched on 1 August at the Global Business Summit on Education, one of the trade events hosted to coincide with the London Olympic Games.

The company will offer “high-quality, research-informed training and professional development” and will employ 10 new people, the university said.

It should also help to improve the productivity and skills of workers in the North West, a spokesman for Salford said.

UK universities earned £606 million from continuing professional development courses in 2010-11, about 5 per cent more than they earned the year before, according to the latest HE Business and Community Interaction Survey compiled by the Higher Education Statistics Agency.

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There has been a 72 per cent real-terms increase in this income stream since 2003-04, according to the survey.

Salford’s move comes as David Willetts, the universities and science minister, continues to promote the importance of education exports, now worth £14 billion annually, according to the government.

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Initiatives such as Salford’s and other university projects such as establishing foreign campuses are seen by many as vital for growth in the sector given the coalition’s policy on restricting the numbers of incoming international students.

Speaking ahead of the summit, Mr Willetts said the event would be a “unique platform” for education institutions to do business with the rest of the world.

“Britain is home to leading universities, excellent vocational education and world-renowned schools.

“[The summit] will provide a powerful showcase for our education sector and its increasing importance in today’s highly competitive internationalised economy,” the minister said.

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david.matthews@tsleducation.com