A little innovation can go a very long way. But where will you find the right specialists to help you innovate? That's where Knowledge Transfer Partnership (KTP) comes in, providing links to the expertise you need to grow your business.
KTP is a world-leading programme that helps businesses succeed by connecting them to the UK's rich academic resources. It's a partnership between the business seeking expertise, a university or college and a recently qualified graduate - known as an associate. If you apply to KTP and are successful, an associate will work in your company and help bring your plans to life.
Transforming Your Business
Any company can apply, to succeed, your project needs to be strategic and have the potential to transform your business. Your academic partner will provide the expertise and knowledge required to deliver the project. If your application is successful, an associate will work to help bring your plans to life. The associate will work on your site to embed the expertise of the academic team and bring their own skills to deliver a project which could mean anything from introducing new products to changing the company's direction.
At least one academic will have been nominated to supervise the associate and form part of the team that will deliver the project. The academic has the intellectual firepower to guide and advise your associate whenever required. They can arrange access to test equipment at the university or college if required. In short, they're a vital part of your team and project.
Funding Your Project
Your project can last between 12 months and 3 years. If you're a small or medium sized business funding will cover two-thirds of the project costs, leaving an average of around £22,000 a year for your company to pay. If you're part of a larger company, funding will cover around half of the project cost, leaving an average of £33,000 a year to pay. That's great value, especially as evidence show that businesses, who invest in R&D grow twice as fast and have higher exports compared to non-innovators.