Businesses and universities and colleges can apply for funding to support partnerships that help improve competitiveness and productivity.
Innovate UK is seeking applications for funding from business-university partnerships with plans to improve competitiveness and productivity by employing a recent graduate with relevant expertise.
The Knowledge Transfer Partnership (KTP) scheme is a three-way partnership between a business, an academic institution and a recent graduate.
The academic institution employs the graduate, who works at the company. The graduate, known as the ‘associate’, brings new skills and knowledge to the business.
KTP increases business profits
A KTP can bring major benefits to a business. Recent research found businesses taking part achieved an average increase in annual profit of more than £1 million and created two new jobs.
Academic partners produced on average 3 new research projects and 2 new research papers for each project, and around 60% of associates were employed by the partner business.
Information about KTPs
- you can apply for a KTP at any time and there are 5 further opportunities available during financial year 2016/17. The closing date for the next assessment is 6 July 2016
- businesses or not-for-profit organisations of any size can apply
- KTP is open to universities, colleges or research technology organisations
- SMEs could receive up to two-thirds of their costs in grant and large companies up to half
- the average annual contribution of an SME to a KTP project is £23,000 and of a large business £30,000
- there are a series of local KTP advisers to help you with your application