Businesses

KTPs enable businesses to access technology and expertise that reside in universities, to help them to innovate and grow.

On average, benefits that can be expected from a project are*:

• £113k one-off increase in net profit during the KTP
• Projected increase of over £1m in annual profits before tax
• The creation of two new jobs
• An increase in the skills of existing staff

(*latest statistics from Innovate UK)

Successful applications secure funding of up to 67% of project costs, with the company partner contributing the remaining funds (33-50%, depending on size of business). Companies can apply for R&D tax relief, potentially reducing costs further. The cost to a company is less than them recruiting a graduate directly, plus they get the additional benefits through accessing academic expertise and university facilities.

Companies from a range of sectors can apply for a KTP. To be eligible, companies should:

• Have at least five employees
• Have been running for at least two years
• Have the infrastructure to support the KTP Associate and the project

A Knowledge Transfer Partnership project may involve:

• Refining existing products, or designing new products.
• Opening new markets for new or existing products.
• Improving business, marketing or manufacturing systems.
• Cutting costs and waste to run the business more efficiently.