By Charlotte Goode, Enterprise and Engagement Manager
What is a Knowledge Transfer Partnership (KTP)?
The power of three. A KTP is a three-way collaboration between your business, an academic or research organisation (the ‘knowledge base’) and a suitably qualified graduate (the ‘associate’) with the capability to lead a strategic project. This dynamic connection can power innovation and realise a transformative business opportunity that will help your company scale up and grow. A project will typically last between 1-3 years.
What does it cost?
The cost of a KTP is shared between your business, Innovate UK and other government co-funders. SMEs contribute just 33% of the costs, with large businesses contributing 50% per annum. The funding is provided via a grant to the academic or research organisation.
What are the main benefits of a KTP?
- The partnership embeds vital new expertise that may not be possible to access through recruitment alone
- A KTP stimulates business growth and powers innovation excellence, providing cost-effective access to cutting-edge technology and equipment
- It can generate new knowledge, expand capability, and provide the strategic input of a highly experienced Knowledge Transfer Adviser (KTA)
- It can increase revenue, improve profits and drive competitive advantage, with the possibility of creating Intellectual Property.
A small engineering company on the outskirts of London used a KTP to develop a core product to accurately detect and discriminate between water contaminants in oil-in-water monitoring. This leading-edge technology generated spin-off products that resulted in the company ranking higher in existing and new markets. Furthermore, in-house expertise developed, that helped to reduce product costs and the project created enthusiasm for the company to research further new technology and applications.
What are the eligibility criteria for a KTP?
Businesses and not-for-profit organisations who wish to apply should:
- Be UK based and of sufficient size to support the project
- Have the financial capacity to make the required contribution to the cost of a KTP
- Be aware that KTPs can have a long-term legacy that can be measured over five years as well as shorter term impact
- Be able to show that their project demonstrates ambition, impact and innovation through a business plan that aligns with the long-term strategic aims of the company.
Interested? Let’s chat…
Contact Enterprise and Engagement Manager, Charlotte Goode for an informal chat in the first instance by emailing firstname.lastname@example.org with ‘KTP’ in the subject field.