Knowledge Transfer Partnerships (KTPs) are a tried and tested method of enabling companies to obtain knowledge, technology or skills which they consider to be of strategic competitive importance, from the further/higher education sector or from a research and technology organisation. The knowledge sought is embedded into the company through a project or projects undertaken by a good quality individual recruited for the purpose to work in the company.
Knowledge Transfer Partnerships enable companies to identify the most appropriate source for the knowledge or capability they are seeking from within the UK's knowledge base (universities, colleges or research organisations).
The application for funding is made through the KTP website to the KTP Programme Office. Applications are approved by the Technology Strategy Board on behalf of the organisations funding Knowledge Transfer Partnerships.
Government contributes towards the knowledge base partners' cost of participation, whilst the company makes up the balance of the project cost.
The KTP Annual Report for 2006/07 reports that companies reported an average one-off profit increase before tax of £60,000, an annual increase in profit before tax after project completion of £229,000 and average investment in plant and machinery needed to realise the outcomes of £193,000.
Visit the KTP website at www.ktponline.org.uk for more information or details of an adviser in your area. You can also call the KTP information line on 0870 190 2829