Midlands companies receive boost from Leicester through KTP funding
Two Midlands-based companies have been given a huge boost after Leicester secured grants on their behalf for innovation projects worth more than £300,000.
The University successfully bid for two Knowledge Transfer Partnership (KTP) awards – one to work with Birmingham-based Synapse Information Ltd on a project worth almost £150K and the other with Red Monkey Play Ltd on a project worth £175K.
Awarded by government body Innovate UK, a KTP supports innovation in business and brings together a university and a company to develop new products, processes or services which are seen as having high potential.
Dr Ming Lim from the School of Management said: “The project with Red Monkey Play carves out and develops a new market for digital play equipment in a growing industry that will transform maths, science and social learning for young and older children.
“The University is transferring an interdisciplinary knowledge base in electronic engineering (sensors) and marketing and innovation management to the company which is likely to be a game-changer in the industry.”