17 December 2018

We have reported previously on Government attempts to get businesses to take part in Knowledge Transfer Partnerships (KTPs) (see “Firms invited to follow Rolls-Royce and Sainsbury’s” and “Funding available to boost knowledge and skills”).

Innovate UK has now announced that, in this financial year, it is making up to £40 million available for firms that want to work with a university or research organisation and a qualified graduate.

The programme can help them turn academic insight into viable products and services, leading to growth and further development.

Businesses can either start a new collaboration with a university, college or research and technology organisation, working with a Knowledge Transfer Adviser to set this up, or build on an existing relationship.

Applications must: relate to a specific project; clearly explain the nature and goals of the intended partnership; include details of the organisations that will take part; and set out what the graduate will be expected to deliver.

Projects can last between one and three years and the current deadline for applications is 6 February 2019. If an application misses a deadline it will automatically be entered into the next round.

Businesses and not-for-profit organisations of any size can apply and, while the size of the grant and own contribution will vary, small and medium-sized firms can expect to contribute around £35,000 per year, or about one-third of the project costs.

More information about KTPs, including how to apply, can be found at https://bit.ly/1ha5Pbo.