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Innovations within higher education are often prompted through the capture of supportive funding. One of the largest examples of this arose from the Centres for Excellence in Teaching and Learning (CETLs) initiative in England (2005–2010). Drawing on the experience of two such Centres, this paper analyses some of the consequences of that funding. It will explore and evidence the fact that whilst funding may incentivise innovation, there is not a simple cause and effect relationship. It will suggest that by offering flexibility in funding approaches, innovation can be encouraged and it will propose that through the direct engagement of students, a powerful and cost-effective force can be empowered to drive curriculum change. [ABSTRACT FROM AUTHOR]