One of the UK’s longest standing initiatives connecting businesses and organisations with academia is celebrating 50 years of delivering value to the Welsh economy.
The Knowledge Transfer Partnership (KTP) programme drives growth and innovation by solving real world ‘business’ challenges in partnership with academics across Wales and the UK. The resulting partnerships are focused on creating solutions that deliver innovation, economic growth and social or environmental benefits, leading to changes that improve people’s lives.
Over the last few years alone, Welsh KTP projects have resulted in 78 new jobs, and a £6.5 million investment in innovation – including £1.8 million in funding from the Welsh Government, which delivers the scheme in partnership with Innovate UK.
For each pound of public investment this is estimated to have generated a return of up to £5.50 in net economic benefits for the Welsh economy.
Across the UK up to an estimated £2.3 billion was added to the economy between 2010 and 2020 thanks to collaborative innovation via KTPs.
The scheme also helps businesses bring in new skills via a talented graduate that is employed to work on the project.
Non-profit Cerebra collaborated with Cardiff University for a recent KTP. The Carmarthen-based charity helps improves the lives of children with brain disorders by supporting their families with their long-term health, education, and social needs.
The KTP developed an AI-driven approach to increase the effectiveness of Cerebra’s marketing campaigns, and secure more donations for the charity.
For further information please select the following link: 50 years of pioneering innovation partnership scheme | GOV.WALES
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