Diverse perspectives and the insights they can offer are not just a catalyst for innovation, they are fundamental to maximising the chances of commercial feasibility and viability.

Where diversity is championed and inclusion is culturally engrained, the likelihood of better business outcomes increases eight times![1],[2]

It can be easy to work with people with whom we have a lot in common. Where there is a shared education, cultural heritage, socio-economic background or gender, immediate connection and mutual understanding on some level can often be assumed. 

It’s easier to see the world from the same point of view: to agree. It feels validating. Work gets done. 

On the flip side, without contrasting views to challenge our assumptions, rigour of thought is often sacrificed, and decisions made can have long-term consequences that compromise success. 

Most people would recognise inclusive diversity as a good thing. But how do we get there? How can we welcome challenging, contrasting, and ultimately value-adding voices into our businesses and institutions?

Knowledge Transfer Partnerships (KTP’s) are a proven mechanism created to enable innovative thinking to be integrated into a business in a strategic, well-managed fashion. 

As fresh as it sounds, the programme has been around for 40+ years. Businesses report that their objectives are met or exceeded in 94% of projects. KTP’s have an 800% ROI for the taxpayer. 

The programme is so well regarded that Government have decided to grow the KTP from 750 projects to 1,100 over the next three years. 

A KTP project is up to 75% grant funded by Innovate UK (and SFC if you're in Scotland). Usual costs for a business are £32-£37k p.a. This includes one graduate full-time in your business (2:1 Bachelors, Masters or Doctorate level), half a day per week of academic time, and potential to access University resource. 

It’s also worth noting that the costs for business can count towards against R&D tax credits.

The beauty of KTP’s (apart from being a super-efficient way to attract and retain top talent) is that they bring knowledge and diverse thinking that hadn't previously existed into the day-to-day operations. In a market where competition for talent is fierce, KTP is an attractive proposition for a graduate: a chance to lead real impact coupled with a substantial training and travel budget. 

 Sometimes the knowledge transfered is specialist, and it complements wider general expertise. Where KTPs are most exciting is where a business embraces knowledge that is new to them to gain a transformational perspective. 

For example:

Design agencies might work with Behavioural Scientists or AI specialists to expand their skill set, develop new internal processes of deliver ground-breaking products.

A biotech start up might work with robotics academics to build accuracy and repeatability into their processes.

   A measurement hardware developer might work with a business school to understand how their product can be servitised to create new revenue streams.

Project case study examples are available online but the possibilities are endless!

Beyond just the technical diversity, KTP associates (as a group) tend to be massively diverse – in terms of age, ethnicity, gender, and socio-economic background. 

If you are interested in KTP, get in touch with West of Scotland KTP centre, the team will talk you through the process and, if appropriate, help you identify and shape a suitable project. 

Bonus fact: the application success rate for the West of Scotland KTP centre is almost perfect. If you get to the stage of submitting a proposal, you’re almost certain to have it funded.

[1]https://www.mckinsey.com/featured-insights/diversity-and-inclusion/diversity-wins-how-inclusion-matters

[2]https://www2.deloitte.com/us/en/insights/deloitte-review/issue-22/diversity-and-inclusion-at-work-eight-powerful-truths.html