Knowledge Transfer Partnerships (KTPs) is a Government scheme allowing your business to solve long-term, strategic issues. A stellar graduate (the Associate) is placed within your organisation full time, but they retain all the support and resources of Newcastle University.
An academic lead works on the project for half a day a week, providing strategic direction to the project, meeting regularly with the Associate (in the same way that they would a PhD student), and liaising with the organisation to ensure that new knowledge is being embedded into the organisation.
This means that the Associate is able to tackle problems and develop knowledge that would be well beyond the reach of a traditional graduate placement. KTPs last between 1 and 3 years but a shorter KTP is available for 10 - 40 weeks.
KTPs have been used to help business and Universities work together on all kinds of strategic, technological and social problems. Results can vary, but the Government has found that, on average, each KTP has led to:
KTPs are part funded by a variety of Government Research Councils and Strategy Boards. They provide:
The net cost to you varies depending on the project but we would advise to put aside £25,000 per year for SMEs, and £35,000 per year for a large organisation. This investment, only slightly more than a starting wage for a high-level graduate, gives you: