A portfolio of businesses signed up to a world-leading programme supporting innovation delivered by the University of Sunderland is now worth more than a million pounds.
Since 1975, Innovate UK’s flagship Knowledge Transfer Partnerships (KTPs) have been connecting ambitious businesses and organisations with academic experts to turn innovative ideas into reality.
A KTP is a partnership between a university and a business, where a graduate works in the business for a period of time, bringing in academic expertise and helping to develop the business.
Each project can last up to three years and aims to foster innovation as well as provide graduates with valuable industry experience.
Innovate UK provide grant funding to cover a portion of the eligible project costs, with the business partner contributing the remaining balance.
The University of Sunderland recently awarded its fifth KTP to Gateshead-based iPac Packaging Innovations, taking the University’s KTP portfolio to £1.1 million.
The other north-east businesses currently working on KTPs with the University are Team Fostering, Training in Care, Speedings Ltd and TDR Training Ltd.
Tim Pain, Director of Innovation and Skills at the University of Sunderland, said: “Reaching this milestone really shows the value of the University’s expertise to local businesses, supporting innovation in a variety of different industries.
“We are delighted and look forward to continuing to grow our KTP work.”
For more information on the University of Sunderland’s KTP programme, click here.