Knowledge Transfer Partnerships bring direct benefits to businesses
12 Oct 2017 10:56 AM
Knowledge Transfer Partnerships are bringing direct benefits to businesses by helping to improve their competitiveness and productivity, Minister for Skills and Science Julie James said yesterday.
The Minister was speaking at an event at Cardiff City Stadium to celebrate Wales’ successes with the programme which enables companies to access academic skills and expertise to address strategic business challenges.
In the past three years 90 KTP projects have been completed in Wales. Welsh Government funding of £4.2m has leveraged £12.6m of private sector match funding and led to over 150 jobs.
The Minister said:
“The KTP programme is a flagship initiative matching high calibre graduates and their academic mentors with real issues and problems in the world of business. It has run successfully for over forty years, and the Welsh Government is happy to match fund projects for businesses in Wales.
“By encouraging collaboration, we are helping businesses improve their competitiveness and productivity through the better use of knowledge and technology.
“For graduates, making the move from university to the workplace can be challenging. KTPs allow them to apply their degree to real business scenarios, under the guidance of expert mentors.
“With businesses and graduates benefiting, everybody wins through this collaboration which also contributes directly to the prosperity of the country.”
Some of the projects highlighted at the event included:
- Innoture Ltd manufacture, develop and commercialise micro needle technologies. Through a KTP they are working with Swansea University on a project which is developing new micro needle based pharmaceutical product applications. Support has included generation of laboratory data to support its strategic aims, and support in writing its first regulatory submission.
- Qioptic designs and manufactures photonic products and solutions that serve a wide range of markets. It is working with Cardiff University on a project to develop and apply an inventory control decision support system. The programme has given Qioptic access to world class expertise and talent through Cardiff University, and has inspired a successful two-year Engineering and Physical Sciences Research Council research project in the area.