Knowledge Transfer Partnerships (KTP) - funding competition opens today, 3 October 2019
In collaboration with world class UK academic teams, companies can achieve real transformation via a KTP. Could this help your innovation succeed?
Companies in almost every sector of the UK economy have benefited from participating in one of the longest standing knowledge transfer programmes in the UK: Knowledge Transfer Partnerships.
Delivered by the Knowledge Transfer Network for Innovate UK, KTPs create a dynamic partnership between a company, a world class academic team based in the UK, and a talented graduate or post grad who acts as the project manager and interface between the academic and company teams. This three-way partnership collaborates to deliver a strategic innovation project lasting between 12 months and three years.
Unlike other match-funding mechanisms, KTPs are all about collaborative working and the end goal is not just a successful project, but also a shift towards a culture of innovation, and the creation of embedded knowledge leading to lasting transformation. This was something experienced by BemroseBoothParagon (now Paragon ID), who have participated in two successful KTPs and who were winners of this year‚Äôs Business Impact award at the KTP Best of the Best Awards.
As Rob Burgin, Former Managing Director, put it: ‚ÄúKTPs are a fantastic route for companies to innovate and revitalise; and as frameworks through which to develop strong, long-lasting relationships with local universities. The structure of the KTP and the structure of the process of qualifying for a KTP enable a deliverable commercial benefit to an organisation‚Äôs knowledge‚Äù.
The cost of a KTP is shared by you and Innovate UK¬†or other government co-funders who contribute 50-67% of the project cost via a grant to the academic institution you partner with. You make a cash contribution for the remaining project cost with a small-to-medium business contributing 33% and a large business 50% per annum. These costs are comparable to employing a well-qualified graduate, but include so much more:
- Access to the exceptional resources of the academic or research organisation
- A dedicated team to deliver a strategic project
- Expert academic input bringing a breadth and depth of knowledge to support the graduate and the project
- The consultancy and guidance of a highly experienced Knowledge Transfer Adviser form the Knowledge Transfer Network throughout the project
- The partnership introduces new capabilities and embeds knowledge
- The risk of developing the innovation project is shared with the government co-funders
- The wider support and opportunities offered by links to the Knowledge Transfer Network
If you think a KTP could help your company innovate for growth, talk to one of our expert Knowledge Transfer Advisers who can help assess your project‚Äôs suitability for funding in the first instance.