Independent reports on Knowledge Transfer Partnership (KTP) and Smart highlight significant impacts from these Innovate UK funding programmes.
If business enagement is an area you are keen to develop – why not attend the sesion being run on this topic as part of the BRAD training later this month. You will get a chance to hear from internal and external speakers who have worked and are working with BU.
KTP is managed by Innovate UK and aims to help businesses improve competitiveness and productivity through a partnership with a university or research institution and the employment of a recent graduate with relevant experience – known as the associate. For every £1 invested by KTP sponsors has returned £7 to £8.50 to the UK economy
The second study by SQW Ltd, working with Cambridge Econometrics and BMG Research, found that Smart funding since 2011 had had a positive impact on business R&D, expenditure, employment, turnover and propensity to export.Smart provides funding of up to £250,000 to support small and medium-sized businesses working on innovative R&D projects that could lead to new products or services. Businesses that responded to the authors’ survey forecast a return by 2017 of £5 for every £1 invested in Smart funding in 2011 to 2012 and 2012 to 2013. The report added that the true extent of the impact of Smart funding since 2011 was not likely to be seen until 2017