Knowledge Transfer Partnerships

by Mike Simm, Perth College

We are often asked about funding support for businesses.

One such scheme which is becoming more popular in Tayside is a Knowledge Transfer Partnership.

KTPs enable the transfer of knowledge between universities, colleges or research organisations and businesses. They receive Government funding support and aim to help businesses strengthen their productivity, competitiveness, wealth creation and economic performance. They stimulate innovation through collaborative partnerships between businesses and the knowledge base.

What types of projects are eligible?

Working with a knowledge transfer partner often helps businesses solve problems or exploit opportunities by, for example,

• improving existing products
• developing new products
• streamlining a manufacturing process
• improving logistics processes
• developing a marketing strategy

How does it work?

The Partnership will help businesses identify an academic or researcher who has the expertise to assist the business. A project will be agreed that will enable the company to draw on the academic expertise and apply it to the business. The project could last for between one and three years and would be undertaken by a suitably qualified graduate selected and recruited by the Partnership.

Business Benefits?

The company will acquire new knowledge and expertise and enjoy financial, resource and project management assistance. The real commercial power and success of these partnerships has been demonstrated over many years with preceding schemes. The average increase in the recurring annual business profitability produced is estimated at £179,000. A company will typically invest £16,220 a year to cover the costs of the graduate who will work in the company like a full time employee and undertake the project.

Can I get involved?

If your company has plans or ideas for growth and development then you should consider a Knowledge Transfer Partnership.