6 ways to decide if Knowledge Transfer Partnerships are right for your business .
In previous articles I have explained that Knowledge
Transfer Partnerships, KTP, is a government programme that supports a
partnership between a company and a university to increase company capabilities
and profits. Funded by Innovate UK, KTP
has delivered great commercial impact for over 40 years, but is KTP right for
your business? If you can say yes to all six of the questions below, KTP may be
the missing piece to your company jigsaw.
1. Is there a development that would transform your business, which you cant undertake without bringing new capabilities, technologies and knowledge into your organisation? KTP addresses strategic change in SMEs and large businesses.
2. Is your company growing and profitable? Innovate UK strategy is to enable, de-risk and support innovation for businesses that have the capacity for future growth.
3. Is the proposed development innovative? Innovate UK look for projects that will make your business a leader in your market sector and create new commercial capabilities.
4. Will the proposed development impact the companys financial performance? KTP projects require a robust business case that delivers continuing growth and increased profitability to the business, over a period of at least 5 years following the conclusion of the project.
5. Will the development challenge the practices of the company and embed new capabilities that will be the basis for future developments of the business? KTP doesnt just address the immediate problem, its designed to enable the business to continually apply the new knowledge for ongoing benefit.
6. Does the development bring together the strategic need, the knowledge transfer and the business plan into a coherent project?
Dont worry if you only score 4 or 5 out of 6, we can work with you to ensure you plan your way to a KTP that will transform your business.
If you would like to learn more about, how Knowledge Transfer Partnerships could transform your business give me a call.