11th June 2001
A Government scheme to improve the profitability of small business is forging new links between the academic and commercial sectors.
The Teaching Company Scheme encourages technology and knowledge transfer by arranging two-year graduate placements in companies.
Spearheading the drive to bring more companies on board is the University of Lincolnshire & Humberside, which aims to be the UK’s leading provider of Teaching Company Schemes by the end of the year.
ULH is currently the UK’s third largest provider of Teaching Company Schemes, with 26 already approved or in operation and four planned to come on stream this month.
The majority of the ULH schemes are in Hull and the East Riding, but the university’s Business Development Centre, which co-ordinates the schemes, is actively looking to expand coverage in Lincolnshire.
“There isn’t the same concentration of businesses in Lincolnshire as there is in Hull, so the scheme has been slower to take off south of the Humber,” says Business Development Officer Andrea Casswell.
“Many of the businesses in Hull are more in tune with what the university has to offer, whereas in Lincolnshire small firms are still finding out what benefits the university can bring to their business.”
Companies who sign up for a TCS benefit from:
· substantial grant funding from central government
· the expertise of the graduate and the university’s academic staff
· the input of the academic supervisors who are assigned to the TCS
· access to university resources, facilities and technology
· increased profitability through efficiency gains or increased turnover
The graduate gets:
· a foot on the career ladder
· a competitive salary
· valuable workplace experience
· the opportunity to study for a work-based masters degree at the university
For most businesses with fewer than 250 employees the cost of participating in TCS for the first time will be about £14,000 per year for two years.
Latest information shows that for each TCS programme involving one associate (graduate) the business benefits that can be expected are:
· an increase in annual profit of around £138,000
· a one-off increase in profit of around £98,000
· 19 company staff trained
· four genuine new jobs created*
The University of Lincolnshire & Humberside’s first TCS began in November 1999 when Business Studies graduate Andy Clarke was placed with Krystals, a Lincoln-based manufacturer of bottles for pharmaceutical products.
Mr Clarke will complete his two-year placement in November 2001. His case study is attached.
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For more information contact: Jez Ashberry, Press and Media Relations Manager
University of Lincolnshire & Humberside
Tel: 01522 886042
Search the university’s news archive at http://www.lincoln.ac.uk/news
* Source: Teaching Company Directorate, Hillside House, 79 London Street, Faringdon, Oxon SN7 8AA www.tcsonline.org.uk