Helping businesses access academic expertise

Businesses looking for financial and expert support to develop their products, services or strategies are invited to attend an open event at Northumbria University, Newcastle next week.

The University is hosting a drop-in session to provide businesses with advice on Knowledge Transfer Partnerships (KTPs) on Wednesday 9 October.

KTPs are government-supported initiatives funded by the Technology Strategy Board. They are designed to help businesses engage with universities on projects which will support their strategic growth and increase their capability and profitability.

Through KTPs, businesses receive direct support from a University and a recently-qualified graduate. The projects can support innovation in a wide range of areas from science and technology development through to business process engineering, logistics and strategic marketing. Grants are also available which can cover up to 67% of the cost of hiring a graduate to manage business projects, depending on business size.

One company to benefit from KTP support is Renown Engineering (pictured), based in Northumberland. Renown Engineering specialise in precision machining and design and repair of complex components for the oil, gas, marine, defence and energy industries.

The company worked with Northumbria University on two KTP projects to establish new processes for design, analysis and manufacturing operations and a strategic approach to marketing and customer relationship management.

The projects have helped Renown Engineering’s sales rise from £11m to £15m per year, with a resulting increase in profits.

The open event will give businesses the opportunity to speak with academics from Northumbria University as well as the regional KTP advisor to discuss any queries they may have on how a KTP could support their business.

The event will be held in Northumbria University’s Newcastle Business School building on City Campus East between 12noon and 2pm on Wednesday 9 October.
To register for the event, email Robert Wiggins giving your name, contact details and information on the area of support your business needs.

For more information on how Northumbria University, Newcastle can support businesses, visitwww.northumbria.ac.uk/business