By applying for a KTP your business or organisation can reduce the risks involved with innovating and benefit from:receive a wide range of benefits.
Access to expertise
KTPs provide businesses with access to the latest academic thinking and expertise, which they may not have been able to access otherwise. This can help businesses to develop new products, services, or processes that are more competitive and innovative.
Collaboration
KTPs involve close collaboration between businesses and academic institutions or research organisations. This collaboration can lead to a better understanding of the business’s needs and the academic or research partner’s capabilities, resulting in better solutions and outcomes.
Funding
KTPs are funded by Innovate UK, which provides financial support for the partnership. This funding helps to cover the costs of the KTP Associate’s salary, as well as other project-related expenses. It makes KTPs more accessible to businesses that may not have the resources to undertake such projects on their own.
Focus on real-world problems
KTPs are designed to address real-world business challenges or opportunities, which means that the solutions developed through the partnership are practical and relevant to the business’s needs. This focus on real-world problems also helps to ensure that the solutions developed through the partnership have a high chance of success.
Knowledge transfer
KTPs are focused on knowledge transfer, which means that the academic or research partner shares their knowledge and expertise with the business. This knowledge transfer can help to build the business’s internal capabilities, which can lead to further innovation and growth in the future.
A KTP project can last between 12 and 36 months, depending on the challenge and the needs of the business or organisation.
KTP Awards
Each year the best KTP project are recognised in the annual KTP Award ceremony. See the KTP Awards page for examples of successful projects and additional information about the KTP programme.
Credit: Innovate UK Business Connect
Last updated: 27 August 2024