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17-578: KTP was launched in 2003, replacing the Teaching Company Scheme ( TCS ), which had been formed in 1975. The programme is funded by some 17 public sector organisations, and led by Innovate UK , an executive non-departmental public body reporting to the Department for Business, Energy & Industrial Strategy . Each KTP involves three 'partners': There are approximately 1,000 concurrent programmes at any one time. The KTP programme

34-417: A KTP programme contributes between 33 and 50 per cent of the project cost, with the government contributing the remainder. Average annual project costs are approximately £60,000. This package includes the associate's salary, as well as a travel budget, personal development budget, academic input and expertise, and administrative support. Potential KTP associates (recently qualified graduates, generally with

51-537: A masters or doctoral level qualification) can search and apply for vacancies on the KTP website. Associates benefit from generous travel and personal development budgets, as well as receiving additional training in business and project management. Innovate UK Innovate UK is the United Kingdom's innovation agency, which provides money and support to organisations to make new products and services. It

68-569: A new leader to refine the organisation". McKernan is a trustee of Alzheimer's Research UK and honorary fellow of the British Pharmaceutical Society . She is a venture partner at the Dementia Discovery Fund (DDF), a specialist venture capital fund which is part of SV Health Investors, whose ultimate controlling party is Kate Bingham . In 2019 she was a founding director of Astronautx Limited,

85-496: A non-departmental public body. The current Innovate UK KTN Interim CEO is Jon Kingsbury. In 2024, Innovate UK KTN changed its name to Innovate UK Business Connect. The current CEO is Stella Peace, following Indro Mukerjee’s retirement in October 2024. Mukerjee was preceded by Ian Campbell who served as interim executive chair from early 2018 until summer of 2020; Campbell was preceded by neuroscientist Ruth McKernan , who held

102-908: A start-up company formed by DDF to conduct research into dementia treatments by correcting disrupted brain physiology. In November 2019 it was announced that McKernan had been elected as the Chair of the UK BioIndustry Association. In 1993, McKernan received the ABSW Science Writers' Award for her science articles in The Independent . She was appointed CBE in the 2013 Birthday Honours for services to business and innovation. Alongside publishing more than 130 scientific papers and 15 patents, McKernan wrote Billy's Halo , published in 2006 and described as part memoir, part popular science. The book describes

119-778: Is a non-departmental public body operating at arm's length from the Government as part of the United Kingdom Research and Innovation organisation. Innovate UK has its roots as an advisory body – the Technology Strategy Board – established in 2004, within the Department of Trade and Industry (DTI), before becoming an independent body in July 2007 after the reorganisation of the DTI into the Department for Innovation, Universities and Skills (DIUS) and

136-416: Is managed by KTN. The aims of each KTP programme are to facilitate the transfer of knowledge and technology and the spread of technical and business skills to the company, stimulate and enhance business-relevant research and training undertaken by the knowledge base, and enhance the business and specialist skills of a recently qualified graduate. As a part-government funded programme, a company entering into

153-542: The Department for Business, Energy and Industrial Strategy and became a council of the newly established UK Research and Innovation (UKRI) organisation. In November 2021, the Knowledge Transfer Network re-branded as Innovate UK KTN as part of a reorganisation of the KTN through which it has increased cooperation with Innovate UK, while remaining a separate legal entity. The re-naming of Innovate UK KTN

170-718: The Department for Business, Enterprise and Regulatory Reform (BERR) under Gordon Brown 's government. The original Technology Strategy Board had its roots in the Innovation Review published by the DTI in December 2003, and the Lambert Review . This reconfigured the major funding mechanism as the Collaborative Research and Development Technology Programme, transformed the pre-existing Faraday Partnerships into Knowledge Transfer Networks, renamed

187-582: The Teaching Company Scheme as Knowledge Transfer Partnerships and set up an Advisory Board made up of 12 people from business, venture capital and regional government. These changes all took place in 2004, with the Advisory Board being appointed in October of that year. In the 2006 budget , Gordon Brown announced the intention to set up the Technology Strategy Board as a "non-departmental public body" operating at "arm's length" from

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204-656: The UK Government. It was decided to locate the new organisation in Swindon , and to recruit a team primarily with business experience. In August 2014, the organisation adopted the name Innovate UK, and began a transition to use the new name in all its communications. However, the legal name of the organisation continued to be the "Technology Strategy Board". Under the Higher Education and Research Act 2017 , effective April 2018, Innovate UK ceased to report to

221-546: The United States in 1985 to become a Fulbright scholar at University of California in San Diego. In 1987 she moved to Merck where she worked for 18 years, leading their Neuroscience Research Centre from 2001, before moving to Pfizer in 2005 where she held a number of senior roles including Senior Vice President and Chief Scientific Officer of the company's Neusentis unit. Returning to the United Kingdom, McKernan

238-469: The chief executive post for the three years leading up to the transition to UK Research and Innovation. Ruth McKernan Dr. Ruth Mitchell McKernan CBE (born 1958) is a British neuroscientist known for her work on ligand-gated ion channels, and for services to business and innovation for which she was appointed CBE in 2013. She is a founding director of Astronautx, a start-up researching dementia treatments targeting astrocytes . McKernan

255-539: Was Chief Executive of government-funded Innovate UK from 2015 to 2018, where she led the development of the Industrial Strategy Challenge Fund and promoted the importance of greater diversity in innovation. She announced her intention to step down as Chief Executive in 2018, two years before the end of the five-year appointment, stating "the introduction of UK Research and Innovation is the natural transition point and an opportunity for

272-524: Was aimed at accelerating benefits for UK businesses by enabling greater strategic alignment with Innovate UK. Innovate UK KTN's role within the Innovate UK group is to "connect innovators with new partners and new opportunities beyond their existing thinking – accelerating ambitious ideas into real-world solutions." Innovate UK KTN operates as a private company limited by guarantee without share capital, with its sole member being UK Research and Innovation,

289-578: Was born in March 1958. She studied biochemistry and pharmacology at undergraduate level, graduating from King's College London with first class honours. She earned her PhD researching anti-depressant drugs at the University of London in the Institute of Psychiatry. McKernan then held research positions at St Mary's Hospital medical school on a British Heart Foundation scholarship, before moving to

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