Businesses can apply for a share of up to £40 million to take part in a Knowledge Transfer Partnership (KTP).
The programme aims to promote competitiveness and productivity in a business by bringing in new knowledge and skills.
The government has just announced in its 2018 Budget that it will invest up to £25 million to expand the KTP scheme. This will create places for more than 200 additional graduates and academics with relevant skills in highly innovative firms over the coming years.
Creating viable products and services
KTPs are designed to help businesses to turn academic insight into viable products and services, leading to growth and future development.
They can either build on an existing relationship with an academic partner, or be a completely new collaboration with a university, college or research and technology organisation. A Knowledge Transfer Adviser can help to set this up.
establish what the graduate will be expected to deliver
KTPs are building better lives for older people
The ExtraCare Charitable Trust manages retirement communities for older people. It has a wellbeing programme that supports residents to make informed decisions about their own health and lifestyle.
Through a KTP carried out with Aston University the trust is developing a new resilience tool to improve wellbeing and independence even further.
When it is rolled out later this month, the web-based app will make it easier for ExtraCare’s advisors to assess the health of each resident, monitor their progress and prevent any potential incidents like slips or falls.
The new app will also allow them to tailor recommendations to individuals for activities that would benefit their physical and mental health.