17/09/2010
The UK is leading the way in terms of business innovation according to data from the Knowledge Transfer Partnerships (KTP) programme.
The KTP scheme offers SME's and large corporations the chance to team up with education establishments, providing a shared pool of knowledge. Many schemes involve university graduates or industry experts being enlisted by firms seeking to boost their profits, creating new products or services. Driving UK business innovations forward is one of the primary concerns of KTP's as well as engaging the local business community with higher education institutions.
KTP's are one of the many ways SME's can raise their profile and generate more income. Sales finance options such as invoice discounting and factoring can also help to boost businesses, as well as integrated marketing campaigns and the embracing of green technologies.
According to KTP programme data, the first half of the financial year saw the highest number of applications for collaboration between business and education with 326 applicants. This was a rise of 149 applicants when compared with 2009/10.
The research reveals that UK businesses are striving to grow in the post-recession period, reports FreshBusinessThinking.com.
Dr Debbie Buckley-Golder, Head of Knowledge Transfer Partnerships at the Technology Strategy Board, spoke to SmallBusiness.co.uk about the increase in KTP applications, saying: ''This news is extremely encouraging and demonstrates a clear desire from businesses to innovate and grow in the post recession era.''
Sarah Howard