A little innovation can go a very long way. However, where will you find the right specialists to help you innovate? This is where Knowledge Transfer Partnerships (KTP) can provide links to the expertise that you need to grow your business.
KTP is a world-leading programme that helps businesses succeed by connecting them to the UK's rich academic resources. It's a partnership between the business seeking expertise, Aston University and a recently qualified graduate – known as a KTP Associate. If your KTP application is successful, an associate will work in your company and help bring your plans to life.
Why do a KTP with Aston University?
Aston is one of the most active universities for Knowledge Transfer Partnerships (KTPs) in the West Midlands. Working with Aston on a KTP can help your business innovate, compete in new markets and increase profitability. We have a strong history of working in partnership with industry and delivering successful outcomes to businesses.
KTPs help businesses to improve their competitiveness, productivity and performance by accessing the knowledge and expertise available within UK Universities and Colleges. KTPs address strategic needs in the company and identify solutions to help businesses grow. Read some of our KTP success stories here.
Aston has a history of recruiting the highest quality Associates to work on collaborative KTP projects. The experiences that they go on to gain through applying their academic knowledge to a real-industry situation make them desirable employees for any company.
What can KTP offer your business?
A KTP with Aston University can benefit a wide range of businesses across many sectors, including micro sized, small and large businesses, or public sector organisations. KTPs can vary in length from six months to three years depending on the needs of your business and the desired outcomes. Key features of the programme are:
- Qualified graduates for six months to three years;
- Up to 67% funding dependent on company size
- Academic consultancy included
- Access to University resources
How does it work?
With the help of a KTP Adviser and Aston's Research and Enterprise Office, you will identify an Aston academic or researcher who has the right expertise to transform your business. You can then define a project that will allow you to draw on this expertise and apply it to your business. Projects can be any length of time between 6 months to 3 years, depending on your needs. The overall aim of a KTP project is to help your business make a step change in an area of high priority. This could be improving existing products or developing new products; developing and implementing a marketing strategy to enter new markets or developing new systems and frameworks to improve efficiency in staff and processes.
Once your project been approved, you and the academic will recruit an qualified Associate (either NVQ level 4 equivalent or above, such as a graduate or postgraduate) to work on the project. Typically they are employed by Aston University but work within your business to manage the project, apply their own knowledge and ensure that the expertise of the knowledge base partner are embedded into the business.
Academics remain closely involved throughout the project, contributing their own knowledge and experience. They will spend the equivalent of at least half a day each week with you and your KTP Associate.
What will it cost?
A KTP is part-funded by a Government grant. A small to medium-sized enterprise (SME) would be expected to contribute about a third of the costs involved in the project. The average annual contribution to a project for an SME would be from around £26,000.
This contributes to the costs of the academic and Associate employment and development. 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.
For more information about Knowledge Transfer Partnerships or an informal chat, please email firstname.lastname@example.org or call Martin May, KTP Manager on 0121 204 4253.