Wolverhampton’s Knowledge Transfer Partnership (KTP) scheme, which is already top in the Midlands, is now ranked third in the country.
Despite the current economic downturn, the KTP initiative has seen an increase of over 40% in the number of programmes established over the last year, supporting the future success of the region.
KTPs allow companies to benefit from a highly-skilled graduate, who will work on a project of strategic importance for between 12 and 36 months with the help of an academic mentor from the University.
Marc Fleetham, KTP Manager, said: “We are working with companies from across the West Midlands on projects which will define the future growth of the area.
“One construction company has recently taken on a KTP graduate, despite difficult times in the industry, in order to plan to meet the demand once the country starts to come out of recession.
“Businesses are benefitting not only from the skills of the graduate they employ but also from the academic mentor from the University and access to the University’s facilities.”
Benefitting from the scheme is Halesowen-based Entec International, which handles global procurement and logistics for bluechip businesses.
Now on its second KTP, the company is working with graduate David Witton on a new marketing strategy.
David, who joined in December and will be with Entec for two years, said: “I’ve received a lot of support from Entec and the University and the skills I learnt during my degree have definitely helped me.
“I have put together a strategic marketing plan and the company is now looking to implement my recommendations. Although I had some industry experience, this is helping me in terms of progression to management. It’s a great opportunity and I would highly recommend it.”
David graduated from the University of Wolverhampton’s Business School and is continuing to study part-time with the institution for a Chartered Institute of Marketing qualification.
The University of Wolverhampton is currently holding a series of breakfast seminars to encourage more businesses to invest in their future and expects KTP uptake to increase.
Knowledge Transfer Partnerships are designed to encourage collaboration between universities and organisations and help improve the profitability and competitiveness of UK companies.
On averages, participating businesses can expect to increase annual profits by around £227,000 before tax.
The University of Wolverhampton currently manages 30 KTP placements.
In May last year, the University was awarded an unprecedented seven KTPs.
Each partnership receives financial support from the Knowledge Transfer Partnerships programme. KTP aims to help businesses to improve their competitiveness and productivity through the better use of knowledge, technology and skills.
KTP is funded by the Technology Strategy Board, along with other Government funding organisations.
Figures are calculated quarterly by the Technology Strategy Board.
For more information please contact Emma Kilvert in the Press Office on 01902 322003.