The Technology Strategy Board (TSB) has announced an increase in funding to small and medium-sized enterprises (SMEs) and voluntary sector organisations taking part in knowledge transfer partnerships (KTP).
Effective from 1 April, the move aims to encourage SMEs and non-profit, non-governmental organisations such as charities to take part in the KTP programme.
The programme forms part of a set of government measures to help companies and organisations survive the recession. Participants will receive a cash payment that reduces their contribution to KTP costs from 33 per cent to 25 per cent per year.
KTPs are formed between a company or organisation and an academic institute to disseminate knowledge and skills and use new technology with the aim of improving competitiveness and productivity.
Pete Munday, national manager for KTPs at the TSB, said: ‘Organisations that participate in KTPs have been shown to derive great benefit from their participation. The current economic conditions are making participation in KTPs more difficult for SMEs. The government and the TSB is therefore prepared to cover a bit more of the risk so that these companies or organisations are better placed to exploit the upturn when it arrives.’
The Science and Technology Facilities Council, NERC, Invest Northern Ireland, SEEDA and Advantage West Midlands are contributing to the financial support necessary to facilitate cuts to reduce the cost of KTPs to SMEs and other organisations.