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’s Business Impact award at the KTP Best of the Best Awards.
As Rob Burgin, Former Managing Director, put it: “KTPs 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’s knowledge”.
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:
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’s suitability for funding in the first instance.
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