Knowledge Transfer Partnerships
Knowledge Transfer Partnerships are a UK government-funded scheme that enables organisations to take advantage of the wide range of expertise available in the University.
The aims of a Knowledge Transfer Partnership are to:
- enhance the business relevance of the Knowledge Base Partner's work
- improve the competitiveness of the Company Partner
- enhance the career prospects of a graduate
The Partnerships involve high calibre graduates working in companies, from a minimum of 12 month to a maximum of 36 months. During this period the graduate is supported by an academic and will carry out a programme of work designed to facilitate transfer of knowledge, skills and technology central to the company's business. The outcome of which for the company will be improved performance, as measured by profitability and competitiveness.
Knowledge Transfer Partnerships typically attract a grant from the government of up to 60% of the cost. For most small-to-medium enterprises participating in a Knowledge Transfer Partnership for the first time, their annual cost is £16,000. This provides one graduate together with the appropriate academic support, plus training, travel and equipment.
Benefits for companies:
- can help a company unlock its potential by identifying and facilitating key areas of potential growth, such as new products, markets, and processes.
- provides dedicated additional resources to help the company achieve this, with full support and guidance throughout the Partnership.
- provides companies with the opportunity to exploit the latest business thinking. It also provides access to the latest technology and ideas in specialist fields.
- has a crucial objective for all its Partnerships, which is the creation of increased competitiveness and financial benefit for the companies involved.
- is exceptional value for money. Government funding covers up to 60% of the cost of the Partnership, and any costs incurred are a small proportion of profits generated by the Partnership.
Benefits for academics:
- Industrial exposure - By working on real business issues in a commercial environment, an academic can maintain an up-to-date knowledge of the latest business thinking, methods and technical innovations.
- Teaching support material - Projects provide material to support both undergraduate and postgraduate teaching through case studies, design exercises and placement opportunities.
- Research support material - Graduates employed on projects often register for higher degrees and produce research papers for refereed journals jointly with their academic supervisors.
- Academic support and overheads – Knowledge Transfer Partnership also brings funds into the University, the management and distribution of which are entirely at the discretion of the institution. Typically funds are used to pay for part-time teaching, attendance at conferences, additional academic and administrative staff.
- RAE recognition.
Benefits for graduates:
- a challenging industry-based project working with senior management at the company.
- salaries commensurate with responsibility.
- ongoing regular input from academic experts.
- time and financial support to pursue a flexible programme of personal and professional development.
- excellent employment prospects on completion of project.
- the opportunity to register for a higher degree.
- automatic registration to NVQ level 4 in Management.
Lancaster University Management School has run a large number of Knowledge Transfer Partnerships (under the previous name of Teaching Company Scheme). These have brought many benefits to organisations of all sorts.
For further information, or to discuss how Knowledge Transfer Partnerships can benefit your organisation, contact:
Tel: +44 (0)1524 594140
Additional information can be found on the Knowledge Transfer Partnership website: www.ktponline.org.uk