KTP: Innovate UK’s Best Kept Secret?

2 Flares Twitter 0 Facebook 0 Google+ 0 LinkedIn 2 Email -- Pin It Share 0 Filament.io 2 Flares ×

You may have decided that you wish to engage with a university. Thats the first hurdle out of the way. The mechanism by which you will engage is the next challenge.

For organisations seeking to improve their competitiveness through accessing university expertise, Innovate UK’s Knowledge Transfer Partnerships (KTP) scheme could be the perfect engagement mechanism.

KTP@40-round-logoKTP is a government-funded graduate placement scheme which places a recently qualified graduate or postgraduate within the business to work on a specific project with half a day per week of expert academic support. The scheme is highly flexible and will support projects of between 6 and 36 months in length. The graduate, or KTP Associate, is normally employed by the university partner but is based at the company’s premises. Associates also spend a small proportion of their time on personal and professional development which enables them to better manage the project whilst also enhancing their own career prospects.

KTP represents a great deal for both partners, as projects are heavily subsidised by the Government through its innovation agency, Innovate UK. If the company partner is a Small to Medium Enterprise (SME), Innovate UK will contribute two thirds of the total project costs, with the remaining third covered by the company. For larger enterprises, Innovate UK will contribute half the total project costs. The company can also choose to enhance the salary of the KTP Associate to reflect pay levels in their organisation, business sector or location. The university partner’s costs are fully covered, including overheads.

Another advantage of the KTP scheme is the excellent support provided by the regional KTP Centres in pulling applications together, making the application process much less onerous for KTP than with other grant schemes. The KTP Centre will also assist project partners with the recruitment of the KTP Associate once an application has been approved.

IheartKTPThe range of projects and sectors covered under the KTP scheme is wide and includes the creative industries. A recent example of this was a KTP project between the Glasgow-based design consultancy Graven Images Ltd and the University of Dundee which supported the development and implementation of tools to improve the company’s efficiency. This resulted in an estimated 20% increase in annual sales for the business. The Associate also secured a permanent position within the company.

You can find out more about KTP and other mechanisms that you can use to engage with the University of Glasgow College of Arts by attending our Industry Day, Friday 5th June.

 


Text by Stephen Marshall.

Learn more about Industry Day or discuss developing a partnership with the College of Arts with Dr Fraser Rowan the College of Arts Business Development manager by email or phone (0141 330 3885).

Further information on the KTP scheme, including case studies, is available here: www.ktponline.org.uk. If you have an idea for a KTP project involving the College of Arts and wish to discuss it, please contact Fraser Rowan, as above.

 

Post Author: Fraser Rowan

Leave a Reply