The local business community has faced a number of challenges lately – but lack of skills, expertise and facilities should never hold any business back, that’s the belief of the University of Dundee.
So, to help enterprises across Tayside overcome these challenges, the university is reaching out to the local business community by inviting them to work in partnership with them as part of the national Knowledge Transfer Partnership (KTP) programme. There are numerous benefits to taking part in a KTP.
Read on to find out how a KTP can help to develop and grow your business….
What is a KTP?
A Knowledge Transfer Partnership is a three-way relationship between a business, a university and a graduate.
This part-funded partnership with the University of Dundee (click to follow the university on LinkedIn) is a valuable opportunity for local businesses to tap into the award-winning academic expertise on offer. SMEs will receive 67% grant funding and for large companies it’s 50%. Did you know Dundee is one of the top 100 universities in the world for research quality? Your business could tap into this quality research.
The university is also well-known for its expertise in engineering, design, business and management – expertise your business can take advantage of.
Jamie Henderson, Innovation Manager at University of Dundee, said: “Any company that is looking for a cost effective way to employ a highly-qualified graduate to undertake a strategic, innovative, business development project need look no further than a KTP.”
Contact Jamie to find out more and to start your application.
How will it help grow your business?
Partnering with the university – an educational establishment that has a long history of innovation and scientific discovery – has a number of benefits. One of the university’s aims is to work closely with local organisations to help solve their problems and overcome challenges, by matching academic expertise to your business needs.
By participating in a KTP you will have access to a full-time KTP associate (a highly qualified university graduate) for up to three years and benefit from a half-day of academic support and supervision per week, as well as access to the university’s state-of-the-art facilities, equipment, machinery and software – at a subsidised cost to your business (as it is also part-funded by government funding).
5 ways KTPs benefit your business:
- Your business can tap into the university’s expertise skills, space, talent and equipment at any time during the partnership.
- KTPs allow you to build an ongoing relationship with the university, which can potentially bring future business benefits to your business as it grows and develops.
- Companies can achieve an average increase in pre-tax profit of up to £600k per annum for the three years following completion of a KTP project.
- The KTP gives you a University’s graduate who will apply work closely within your business applying new skills and qualifications relevant to your field.
- Approximately 75% of associates are offered a permanent job in the company on completion.
What are your business aims?
What are your objectives and intended outcomes? What skills, expertise do you not currently have in your business?
If, for example, your business or organisation wants to increase its market share or evolve a product through research and development – then partnering with the university can allow this to happen more quickly and effectively.
To date, businesses who have undertaken a KTP, have reported increases in competitiveness, productivity and performance.
Here Alan Picken, CEO at IMV Imaging talks about his KTP experience.
How can you apply for a Knowledge Transfer Partnership with the University of Dundee?
There are a number of government initiatives that help foster relationships between academia and business communities, and a KTP is one of them. Often funding applications can be a laborious task, however, as part of the service the University of Dundee offers local businesses, an academic will work with you to scope out the KTP project and prepare, before submitting a joint application for grant funding.
The closing date for the next round of applications is April 2022.
If you are interesting in being part of a Knowledge Transfer Partnership and benefiting from all the opportunities it brings. Contact the university’s Innovation Manager by email today to start the process. And don’t forget to follow the university’s Research and Innovation Services on LinkedIn.
