Written by University of the West of Scotland
What is a KTP?
Funded by Innovate UK, a Knowledge Transfer Partnership is a three-way collaborative partnership between a business, a knowledge base (university or college) and a KTP Associate (average age 30 and typically with a higher degree) who is employed to work in the business full-time leading a strategic project that delivers both new knowledge and profit impact for the business. The collaborative nature of the undertaking is key to its success; with the academic team from the knowledge base providing half a day per week to support the business and the Associate.
In the UK, there are currently around 700 awarded KTP projects, delivering on average £1m+ profit impact post-KTP. The KTP budget for the coming year is £60m and provides up to 75% project funding depending on size and classification of the business (75% support for charities and charitable businesses, 67% support for SMEs and 50% support for large organisations)
How much does it cost?
The average annual cost to a SME is around £30k per annum, with the 67% grant being paid direct to the academic partner (no de minimis impact therefore). Projects can last between 12 and 36 months, can span all business sectors, technologies and areas of business from new product development to operations management, marketing and internationalisation. KTP projects focused on AI and digital transformation are increasingly common. Businesses partner with their chosen academic institution and relevant school based on their specific project requirements. The flexibility to design a project around the specific need of the business is a key benefit of the KTP model and point of differentiation compared with many other innovation funding sources.
Where do I find out more info and how do I apply?
If you know which institution you would like to partner with, then you should approach them directly. If not, the UWS KTP Centre team at the University of the West of Scotland would be delighted to help identify suitable partners for your business or answer any questions you may have: firstname.lastname@example.org