Knowledge Transfer Partnership (KTP) schemes link businesses with a university and a graduate to work on a specific project, which will enable businesses to grow and be innovative. The goal is to transfer expert know-how and skills into the company, and provide new challenges and ideas to the University.
KTPs have been helping UK businesses improve their competitiveness and productivity for more than 40 years. Each KTP is a three-way partnership between a business, a graduate and the University of Northampton. The University employs the recently-qualified graduate who works at the company. The graduate, known as the ‘associate’, brings new knowledge and skills to the business.
The benefits of a Knowledge Transfer Partnerships
- Businesses achieve an average increase in annual profit of more than £1 million after taking part. They also create around two new jobs
- Academic partners produce on average more than three new research projects and two research papers for each project
- Around 60% of associates are offered a permanent job in the company when the project ends
What will it cost?
Depending on the project and the requirements of the business, a KTP varies between 12 and 36 months. The costs of a KTP are significantly less than recruiting a graduate directly, plus your business benefits from the input of professional and technical expertise of the University. A KTP is part-funded by a Government grant. The amount businesses need to contribute is different for SMEs and larger companies. Your contribution to the costs of the project not only gives you the services of your KTP Associate, but also the time and expertise of the academics or researchers working with you, and expert guidance from a KTP Adviser.
KTP often delivers increased profitability for businesses as a result of the partnership through increased sales, enhanced quality and operations, and entrance into new markets. Social enterprises see improved results, too.
The exchange of knowledge can benefit your business to be more competitive, profitable and to advance your processes and products. To find out more contact the Research and Strategic Bidding Office on 01604 892553 or email Charlotte.Patrick@northampton.ac.uk.