The University of Northampton is adding its expertise to the drive for innovation and growth through its participation in the government-funded Knowledge Transfer Partnerships with Northamptonshire businesses. The university's business engagement officer Sam McKay explains more.
IN THE FAST-PACED and ever-changing landscape of modern business, staying ahead often requires tapping into new knowledge and expertise.
Knowledge Transfer Partnerships is a UK government-funded programme which have been designed to drive innovation and growth by forging collaborative partnerships between businesses and universities.
The core of KTPs lies in the transfer of knowledge, technology, and skills from the academic world to commercial applications within businesses. These partnerships typically involve the employment of a recently qualified graduate, known as a KTP Associate, who works within the business to help address specific strategic challenges or opportunities.
Right now, around 800 businesses, 100 knowledge bases (universities) and over 800 graduates are involved in KTPs. There are two types of KTP:
Classic KTPs focus on developing new or better products and services
Management KTPs focus on developing better businesses by enhancing processes and building management capability
A KTP project can last between 12 and 36 months, depending on the challenge and the needs of the business.
Who can take part?
Each KTP is a partnership between:
- A UK-based business of any size. This includes not-for-profit organisations such as social enterprises, charities and some public sector organisations. Within KTP these partners are always referred to as ‘the business’;
- A registered knowledge base. This could be a university, college, research and technology organisation or Catapult in the UK;
- A suitably qualified graduate, with the capability to lead a strategic business project.
KTP for businesses
Knowledge Transfer Partnerships can help your business to:
- Embed expertise, generate new knowledge, expand capability and foster a culture of innovation;
- Drive competitive advantage through accelerated innovation and the possibility of creating Intellectual Property;
- Gain privileged and cost-effective access to the UK’s world-class knowledge base and resources;
- Increase revenue/profits through access to new markets, new product development, increased productivity and better processes;
- Benefit from the strategic input of a highly experienced Knowledge Transfer Adviser.
Working with your academic partner you will improve your business processes and performance, helping you to become more competitive and productive.
What will it cost?
A KTP is part-funded by a grant. A typical KTP project delivers a package of support valued at around £80,000 to £100,000 per year. This includes the costs of:
- The academic team.
- Project consumables.
- The associate’s salary.
- Mentoring, training and development.
- Travel and subsistence.
The proportion of the costs covered by KTP varies according to several factors including the size of the business or group and the type of knowledge base you choose to work with. Typically, the grant rates are:
- 75% of project costs for not-for-profit businesses of any size.
- 67% of project costs for micro, small and medium-sized businesses.
- 50% of project costs for large businesses and public sector organisations.
Businesses will need to fund the remaining cost of the project but may be able to use research and development tax relief to recoup some of these costs. To access R&D tax relief, businesses will need to speak with their accountant or seek other professional advice.
The University of Northampton has partnered with businesses in delivering several successful KTPs, details of which will follow in the next edition of Business Times and at www.business-times.co.uk.
In the meantime, if you have a strategic innovation idea for your business but do not have all the in-house expertise needed to develop it, please get in contact with us here via .