Jason Ford

Innovative project applications double year-on-year

News

Demand from UK businesses wishing to get new, innovative projects off the ground has almost doubled since last year, according to the Knowledge Transfer Partnerships (KTP) programme.

Funded by the Technology Strategy Board (TSB), KTP supports business innovation by facilitating collaborative partnerships with further- and higher-education institutions.  

The programme is said to have received nearly twice the number of applications from businesses in the first part of this financial year compared with 2009/10, with 326 new applications compared with 177 last year.

According to a statement, the findings demonstrate a ‘significant desire’ from businesses to invest in future growth, despite economic uncertainty in the UK.

Head of KTP at the TSB Dr Debbie Buckley-Golder said: ‘This news is extremely encouraging and demonstrates a clear desire from businesses to innovate and grow in the post-recession era.

‘The number of active KTP projects running for between one and three years reached 1,102 during 2009/10 − the largest number ever achieved in the 35-year history of the KTP programme.

‘As a result of the government money committed to KTPs during 2009/10, UK businesses now stand to benefit from increased annual profit before tax of around £150m.’

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