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Knowledge and expertise from the University of Ulster is helping to increase the number of local businesses that become more innovative, more profitable and more internationally competitive.

Professor Hugh McKenna, Pro-Vice Chancellor, Research and Innovation, made the comment as he addressed local business people, students and university researchers at an event to celebrate the university’s 150th Knowledge Transfer Partnership (KTP).

Through KTP, the university and its graduates help to transfer knowledge and expertise from the academic setting into the business world. The companies, university and graduates work in partnership, delivering projects that develop new products, improve product design or, manage and protect intellectual assets.

Professor McKenna said: “The high level of expertise and research capability at the University of Ulster means it is already renowned for the positive impact it has on the economy and key industry sectors. <

“KTP is one of a number of tools we use to ensure that any company wanting to improve a priority area of its operations, has access to the people, skills and knowledge they need to deliver tangible, sustainable improvements. KTP also helps graduates to develop essential industry skills that can boost their future career prospects.

“I am delighted to see the results secured by our academics, researchers and KTP graduates and how the University of Ulster is continuing to play a vital role in supporting economic growth.”

The 150th KTP project will be delivered for FSCom, a compliance firm based in Holywood, Co. Down which advises financial services companies all over the UK.

Nick Patterson, Associate Director of FSCom Ltd, said: “As a small but extremely fast growing company in the financial sector we see investing in technology as key to the long term growth of the company.

“KTP offered a unique opportunity for us to enhance the technology side of the business and build what we hope is a long term partnership with the university. We have identified a specific project for our KTP graduate and are excited about the potential this has for our business in key markets.”