Knowledge Transfer Partnerships (KTPs) are a scheme to help businesses improve their competitiveness and productivity by accessing knowledge, technology and skills that are embedded within UK Universities.
The scheme is supported by the Technology Strategy Board such that the average annual contribution to a project for a small or medium sized entity is around £20,000. For this you get a full time graduate or post graduate and access to a University academic for half a day per week.
The statistics available on KTPs demonstrate that on average businesses see an increase of over £220,000 in annual profits before tax, the creation of three genuine new jobs and an increase in skills of existing staff.
How does it work?
The overall aim is to help your business to take a step forward in an area that you have identified as a high priority. This is achieved by identifying an academic at a University that has the right expertise for your business, and working with them to define and agree a project that will enable you to draw on their expertise and apply it to your business.
Once your project has been approved by the Technology Strategy Board, a graduate or post graduate with relevant expertise is recruited to work in your business. They will manage the project, apply their own knowledge and ensure that the expertise of the academic is embedded into your business. The academic remains closely involved throughout the project to contribute their own knowledge and experience, spending the equivalent of at least half a day each week on the project.
The project can be for a period of 10 weeks up to 3 years, depending on whether your business need is tactical or strategic. The project could seek to improve existing products, develop new products, develop and implement a marketing strategy to enter new markets or develop new systems and frameworks to improve efficiencies in staff and processes.
For more information please contact Sara Crowther.