Companies from across the region recently attended an event at The University of Nottingham to celebrate the work of the 60 businesses that have benefitted from taking part in the Knowledge Transfer Partnership scheme.
The Knowledge Transfer Partnership Programme (KTP) is a government funded initiative that aims to transfer knowledge from the UK’s universities and embed that knowledge in businesses of all sizes to help them become more profitable.
Over the past five years, The University of Nottingham has established itself as one of the UK’s leading KTP universities and has just celebrated the successful funding of its 60th project.
Businesses make £250k on average
Each eligible project must be of significant importance to the company, and the funding, which is provided by the Technology Strategy Board, pays for both academic time in the company and also for the employment of a recent graduate to work in the company on a specific project. On average, businesses taking part in the scheme make over £250,000 profit per annum.
At the 60th KTP event, two businesses presented their own experiences of the scheme. Microlise Ltd from Eastwood Nottinghamshire, is a medium sized business and transport management solutions provider, specialising in vehicle tracking & telematics, transport management, planning and proof of delivery systems.
Mathew Hague, Product Strategy Manager at Microlise, actually started at the company himself as a KTP associate 12 years earlier. He discussed the projects they had undertaken through the KTP initiative, ranging from marketing to engine prognostics, and the positive impacts KTPs have had upon the company and the graduates that have been involved.
Another presenter, Paul Taylor, CEO of Dynex Semiconductors from Lincoln, spoke about his company’s involvement with KTPs. He mentioned that they are now on their third KTP project and have seen real value from them all.
Helps to improve competitiveness
Dan King, Head of Knowledge Transfer at The University of Nottingham, added: “KTP is a key element of our business engagement strategy. It’s a well-respected scheme that is now in its 38th year. We are keen to raise awareness of the scheme, as it presents such good opportunities for businesses of all sizes to innovate and increase their competitiveness in global markets.”