Europe's most successful Knowledge Transfer programme celebrates 40 years
A collaboration of eight Universities in the Yorkshire and the Humber region, are inviting businesses to join them to celebrate their Knowledge Transfer Partnerships'(KTP) success and find out how they can use Innovate UKs KTPs to drive innovation.
A free celebration event on Thursday 15 October 2015, from 4 – 7pm at White Cloth Gallery in Leeds, is an ideal opportunity for businesses to learn more about what KTP can do for them, and hear from other companies who have benefitted from the programme.
Established in 1975, the same year Microsoft was born, the Innovate UK Knowledge Transfer Partnership (KTP) programme now boasts over 700 partnerships per year.
KTP is Europe’s most successful knowledge transfer programme, linking businesses with Higher Education sector innovators and helping them to improve their competitiveness, productivity, performance and profitability by tapping into the knowledge, skills and expertise of UK Universities. Last year every £1m of government money invested into KTP projects saw 25 new jobs created and 353 staff trained. On average, each project delivers an increase of more than £1,000,000 in annual profit before tax, two new jobs and 31 staff trained for the host company.
Each KTP is a three-way partnership between a business, a university and a graduate and part of the cost is paid for by a grant. KTPs have filled a business critical knowledge gap for many household names, including Yorkshire Water, Seabrooks Crisps, and Ford Motors. Ford used their KTP to develop their capacity in resource efficiency and environmental performance. KTPs have created assets that benefit these organisations long after the KTP ended. Including staff assets, as more than 58% of graduates are offered continuous employment in the host company.
Dr Ian Brotherston, KTP Programme Manager for Innovate UK, said: “2015 marks the 40th Anniversary of the start of the Teaching Company Scheme that subsequently became Knowledge Transfer Partnership. KTP is a world-leading programme that helps businesses succeed by connecting them to the UK's rich academic resources. It improves the competitiveness of the business, develops the careers of the graduates and provides opportunities for the academics to apply their research.
Since joining Innovate UK I have been amazed by the impact of the many success stories that I have come across in the KTP Programme. KTP is one of many successful initiatives provided by Innovate UK and is a key part of our support for UK Business. Its track record is a shining example of what can be achieved when dynamic organisations link with academic institutions. I hope that we can continue to inspire organisations to become involved.”
Yorkshire and the Humber were in the top 3 for numbers of KTPs supported across England last year.