The Knowledge Transfer Partnership (KTP) scheme helps businesses to innovate and grow. It does this by linking them with a university and a graduate to work on a specific project.
Each KTP is a three-way partnership between a business, an academic institution and a graduate. The academic institution employs the recently-qualified graduate who works at the company. The graduate, known as the ‘associate’, brings new skills and knowledge to the business.
A KTP can last between 12 and 36 months depending on the project and the needs of the business. It is part-funded by a grant. The amount businesses need to contribute is different for SMEs and larger companies. For example, the average annual contribution to a project for an SME is around £23,000.
2017/18 close dates for submission are aligned with Innovate UK’s sector and open competitions:
Manufacturing and materials round 3 – 12 July 2017
The benefits of taking part in a KTP
- businesses achieve an average increase in annual profit of more than £1 million after taking part. They also create around 2 new jobs
- academic partners produce on average more than 3 new research projects and 2 research papers for each project
- around 60% of associates are offered a permanent job in the company when the project ends.