Jquery knockout: Render template in-memory

I have a knockout template:

<script id="draggableHelper" type="text/x-jquery-tmpl">
    <div class="draggableHelper">
        <span data-bind="text: Name"></span>
    </div>
</script>

Is possible to generate the result of the template, and save it into memory, by sending the object to populate the template?

Something like:

var result = ko.renderTemplate($("#draggableHelper").html(), { Name: "Test" });