Potential £3 million benefit from KTP with Exeter University
1 min read
In order to maintain the substantial growth achieved in the past few years (2006 saw a 50% increase in turnover to almost £3.5 Million) Eastington based weld overlay cladding and fabrication specialist Arc Energy Resources has employed two graduates from the University of Exeter under the Knowledge Transfer Partnership (KTP) programme.
The scheme, which was devised and part-funded by the DTI, provides graduates with the opportunity to gain a wide range of work experience in small and medium sized businesses over a two year period. The two graduates seconded to Arc Energy are working to a carefully constructed project plan that has enabled them to integrate quickly with the company culture.
Managing director Alan Robinson says the approach to Exeter University was prompted by the company’s own business plan, which had identified that on-going development work was needed in areas such as equipment innovation and organisational structure. He reports that the two graduates, Jenny Bingen and Toby Venn, have already provided the impetus to develop both equipment and manufacturing information control systems and adds: “KTP is a wonderful scheme. Changes introduced after the first two months will benefit the business by £400,000 over two years, and we believe this is just the tip of the iceberg. We anticipate that these two bright engineers will enable us to win additional sales of £2.2m a year combined with efficiency improvements in excess of £1m over the 2-year project period.”
KTPs are designed to help companies access the expertise in universities, colleges and research organisations by working in partnership with academics or researchers.
