What is a KTP
How it works
Businesses often have innovative ideas but often lack the internal expertise or funding to make it happen. Knowledge Transfer Partnerships (KTPs) have an outstanding record in achieving innovation, enterprise and skills; we can help you reap the rewards that a longer-term investment in a KTP can offer.
With a KTP, businesses can gain funding to develop their expertise while working on a key project in-house with the support from the university. An increasing number of businesses are taking advantage of this arrangement with ever-expansive results.
What Constitutes a Project
At the heart of every Partnership is a project with specific strategic objectives. A high-quality graduate (a KTP Associate), supported by the academic expertise at LSBU, will work exclusively on the project at the company to deliver tangible results.
In order to apply for a KTP a company must have a project in mind that needs external knowledge to develop and is of strategic importance to the business. It must also have a commercial edge and see a healthy return on funding.
Am I Eligible?
Small, Medium and large companies are all eligible for grant funds, as well as charities, not-for-profit organisations and the public sector such as educational institutions and health organisations. Providing the business has been trading for a minimum of 2 years and has more than 5 full time staff an application can be made.
How Much?
The government pays nearly two-thirds of the £65.5k annual budget for a KTP project, this means companies pay an average of £21k annually and get £65.5k worth of services.
What do you get for your £21k investment?
- Employment costs of up to £30k for an Associate
- An annual travel budget for use by the Associate
- An annual budget for the Associates career development
- ½ day per week of academic input and expertise
- Full administrative support for the programme through the KTP office