In the UK the Knowledge Transfer Partnerships (KTP) is a funding mechanism encouraging the partnership between a firm and a knowledge-based partner.[13] A KTP is a collaboration program between a knowledge-based partner (i.e. a research institution), a company partner and one or more associates (i.e. recently qualified persons such as graduates). KTP initiatives aim to deliver significant improvement in business partners’ profitability as a direct result of the partnership through enhanced quality and operations, increased sales and access to new markets.