How universities can help your business innovate

Knowledge Transfer Partnerships allow even small companies to have moonshots, says law firm CEO Ed Fletcher.

by Ed Fletcher

In today’s competitive landscape, no company – however big or small – can afford to rest on its laurels. Even businesses in traditional industries are implementing highly complex and sophisticated digital transformation projects that employ cutting-edge technologies such as AI. 

However, these projects can often be very difficult to bring to life, requiring significant monetary investment as well as manpower. For businesses that have a brilliant idea for a project, but perhaps not the funds or the in-house expertise needed to develop it, a Knowledge Transfer Partnership (KTP) may be the answer.

What is a KTP?

The Knowledge Transfer Partnerships scheme is a UK-wide programme that helps businesses to innovate and grow. Run by Innovate UK, the part-government-funded scheme creates dynamic three-way collaborations between businesses, UK universities or research organisations, and suitably qualified graduates, who then work together on approved strategic innovation projects. 

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