As a growing or established business, the chances are you have a wish list for what you’d like to achieve over the next few years to boost your success. Perhaps you are looking to deliver a fresh, new project, but don’t have all the in-house skills, knowledge, time or resources to do it. Or, maybe you need to implement some new technology to stay competitive in your market or expand your product design capability.
Whether you’re looking to drive innovation or address a business pressure point, a Knowledge Transfer Partnership (KTP) with Birmingham City University could be the solution you’ve been looking for.
What is a Knowledge Transfer Partnership?
A KTP is a collaboration between a business or organisation, a research body or Higher Education Institute (such as a university) and a high calibre graduate. The KTP initiative has been running for more than 40 years, helping businesses of different sizes and sectors become more competitive and productive within their market place.
The majority of KTPs are available through government body, Innovate UK. It provides part funding for KTP projects as well as Knowledge Transfer Advisors who attend quarterly meetings with KTP collaborators to monitor success and ensure projects are delivered.
How will a KTP work for me?
A Knowledge Transfer Partnership can help your business to realise a strategic and innovative project that you may not otherwise have had the internal capacity to deliver. In addition to gaining academic business knowledge from Birmingham City University’s experts, access to University facilities and part funding, you’ll also receive a high calibre graduate, to run and manage the delivery of the project for you.
The graduate, known as a KTP Associate, will be employed by us (Birmingham City University) to work full time in your company, working to your terms and conditions e.g. holiday entitlement and salary scale, for the duration of the project – usually two to three years. We will also liaise with Innovate UK to set up and secure the KTP project and funding.
The KTP will be mutually beneficial to all parties; enabling your business to realise positive transformational growth, the graduate to increase their experience and employability potential, and the new research and practical application gained from KTP projects enriches our curriculum.
What funding will I receive?
The majority of knowledge transfer partnerships are partially funded by Innovate UK; SMEs typically receive 67 per cent of project costs and larger organisations 50 per cent.
Is a Knowledge Transfer Partnership right for my business?
You may think your business is too big or too small for a KTP, but the eligibility criteria is broad. In fact, SMEs with 10 or more employees can participate, as well as larger organisations.
Your KTP project needs to be focused on deliverables you wouldn’t ordinarily be able to achieve due to organisational challenges such as a lack of knowledge, skills, funding or time. Project deliverables need to be realistically achievable in three to five years and generate revenue for your business, as well as being sustainable, innovative and tangible.
Why should I partner with Birmingham City University?
We have created a knowledge transfer-focused infrastructure with dedicated business engagement managers, funding managers, administrators, HR and finance employees making it possible for us to initiate and deliver up to 28 new KTPs each year. Around 90 per cent of KTP applications are accepted.
We understand the importance of responding rapidly to business support requests and with KTPs we strive to make the process as simple, affordable and streamlined as possible for our business partners. We promptly meet with you to create a proposal that meets your business needs and we submit the proposal to Innovate UK on your behalf. Whilst doing this we are also recruiting your high-calibre and work-ready graduate, meaning once your project has been approved for funding you’ll already have a recruit ready to start work. We then collaborate with you throughout the KTP to ensure the graduate and the project deliver the required outcomes for your business.
Are you ready to drive innovation with a Knowledge Transfer Partnership?
To discover more about Knowledge Transfer Partnership at Birmingham City University please send us an enquiry, selecting Business growth with BCU Advantage - Products and Services. A member of our KTP team will be in touch to discuss opportunities.