Businesses and higher education institutions from across the UK celebrated a year of outstanding achievements in innovation at the annual Knowledge Transfer Partnerships awards in London.

The awards recognised the most successful partnerships fostered through the Technology Strategy Board-led Knowledge Transfer Partnerships programme, which supports innovation-led, three-way partnerships between businesses, academic institutions and graduate associates.

In total nine partnerships were presented with the Winning Partnership Award, selected from a list of over 204 eligible nominations. Stand out projects included the development of an innovative patented product in metal manufacture leading to a 40% increase in sales and the design of a new materials recovery facility which led to an increased turnover of over £340,000.

"This event has provided a welcome indication that the UK economy is equipped to meet the challenging demands of a tough economic climate and increasing global competition," said Graham Spittle, Chairman of the Technology Strategy Board.

"The Knowledge Transfer Partnerships is a great success and will continue to grow as businesses increasingly recognise the value of tapping into the skills and knowledge that exist within the UK's academic institutions. Businesses and universities need to continue to work together to ensure that innovation blossoms throughout the UK and secures our economic future."