Times Higher Education World University Rankings data reveal the 20 best institutions based on private-sector investment per academic.

Germany’s LMU Munich receives more industry funding per academic than any other institution in the world, according to Times Higher Education’s new Funding for Innovation ranking.

The university has topped a list of the world’s best 20 institutions based on their ability to secure research money from the private sector. It secured almost $400,000 (£288,500) per academic from businesses in 2013.

The US’ Duke University takes second place, with a figure of almost $290,000, while the Korea Advanced Institute of Science and Technology (KAIST) is third, with $254,700.

Europe dominates the ranking with nine institutions in the top 20, followed by Asia with seven and North America with just two.