New Virtual Office Launch

Fostering business partnerships with the University of Luton is going to be even easier now, thanks to the launch of a ìvirtualî office.

The office is part of the expansion of the University of Lutonís Knowledge Transfer Partnership (KTP) scheme which enables companies to increase profits and access a whole range of expertise.

The latest published information shows that small and medium-sized businesses taking on a graduate for two years, under the KTP scheme, can expect, on average, increased profits of around 138,000 per annum.

To promote this, the University of Luton has won Government funding to set up a new KTP office in the region ñ one of only 30 across the UK. The aim is to boost what the University is already doing and to increase the number of company partnerships.

Companies are being invited to the KTP office launch on Wednesday 13th October to find out more. Part of the free event will include the live launch of the virtual KTP Office ñ KTPv.

KTPv will link KTP companies into the University for information or enquiries ñ speaking directly to University staff.

The KTP event will also showcase speakers from companies already using this successful scheme to grow their businesses. They employ graduates to be involved in a variety of company projects, from marketing and design to information technology and human resource management.

Tim Priestman, Associate Director of the University of Lutonís Business Development Department, said: ìKTP is seen by the Government as an ideal vehicle for creating long-term partnerships with local employers. Itís one of its big business successes.

ìThe main aim is to make the companies more profitable. The graduate gains by being paid at market rates, getting a higher degree as well as an NVQ level four in management, and two years work experience for their CV. The company gets a bright graduate, a subsidy of 60 per cent, links with a University expert and a ready-made programme of training and support.

ìThe University benefits with research papers as well as material for its undergraduate and postgraduate curriculum and case studies that we can use, to show what goes on in todayís industry. Everyone gets something out of these partnerships.î

Regional companies, which have already benefited from the programme, have said:

- ìThe University of Luton has provided us with someone who is confident, of high calibre, very motivated, able to perform and who has increased our revenue streams. The support from the University has also been excellent.î Brian Back, Managing Director of Radiotech

- ìAs far as Ludlows of Luton is concerned, the KTP project is proving to be a success and is still growing. We can only be positive about it, we have benefited, the graduate has benefited and so has the University.î Derek Ludlow MBE, Chairman of Ludlows of Luton Ltd.

The KTP office launch event will take place at the Universityís Putteridge Bury campus on Hitchin Road, Luton, between 6:30pm-8pm. The event is free but has limited availability ñ so register early to avoid disappointment. Contact Alice Butler on 01582 743748 or email alice.butler@luton.ac.uk to register.