Up to £40 million of funding has been allocated to support businesses in collaborating with an academic or research organisation and a graduate on a Knowledge Transfer Partnership (KTP). The KTP scheme enables businesses in the UK to innovate and grow by linking them with an academic or research organisation and a graduate.
A KTP enables an academic or research organisation as a partner to a business to recruit a suitable graduate (an Associate) to work at the company for the duration of the KTP. The business is thus able to access new skills and the latest academic thinking to deliver a specific, strategic innovation project. KTPs can last between 12 and 36 months, depending on the project and the needs of the business.
The KTP 3-way partnership will consist of:
- A UK-based business of any size or a not-for-profit organisation
- An academic or research organisation i.e. university, college or research and technology organisation in the UK
- A suitably-qualified graduate with the capability to lead a strategic business project
The KTP can be part-funded by a grant from Innovate UK with the business partner contributing to the salary of the Associate plus the cost of a supervisor who will oversee the scheme. Contributions will depend on the scale and length of the project and the size of the company i.e.
- Small and medium-sized enterprises contribute around £35,000 per year, about one-third of the project costs
- Large businesses contribute around £55,000 per year, or half of the project costs
Applications may be submitted either via a KTP Adviser who will check the feasibility of the idea and find the right partner or, where there is already a partnership with an academic or research organisation, via that organisation’s KTP office.
The deadline for applications to this round is the 16th July 2020.