Knowledge Transfer Partnerships (KTP) for business
Sharing knowledge, unlocking potential and delivering success
Contact our KTP team through Enterprise Solutions on 0800 052 5600 or by email at enterprisesolutions@plymouth.ac.uk.
The benefits of KTP to business
National statistics show that over the past five years each partnership has benefitted from an average:
- £60k increase in pre-tax profit during the lifetime of the project
- £600k per annum increase in pre-tax profit for the three years following completion of the project
- £650k per annum increase in exports for the three years following completion of the project
- invested £300k in plant and machinery
- invested £160k in further research and development
- created two new jobs
- trained 20 staff
- 64% of KTP Associates are offered jobs by the company partner post KTP completion
- Businesses can apply for R&D tax credits, provided they are eligible
Who’s it for?
Most businesses and organisations are eligible for KTP if they are seeking expertise to solve an innovative strategic problem. The impact of a KTP will be transformational and enable the business to become more competitive and generate new income. Recently, KTP has implemented a new Management KTP (MKTP) to support businesses that wish to increase business effectiveness by optimising management systems and processes. This will expand business capability, increases efficiency and deliver transformational productivity.
How does it work?
- KTP is a UK-wide programme that has been running for over 45 years.
- An Innovation Funding Manager from the University of Plymouth will work closely with the business to help define the project, prepare the funding documents and submit the grant application.
- The KTP will be supervised by the University of Plymouth throughout the partnership.
- Online submission – five to six per annum.
- Full pre- and post-award support form Plymouth’s KTP Office.
Funding your project
A KTP is part-funded by a Innovate UK, part of UKRI and the amount you will need to contribute depends on the requirement and length of the project, as well the size of your company.
SMEs
If you are a small to medium-sized business, you will need to contribute a third of the overall project cost. The average annual contribution to a project for an SME is approximately £29,000.
Large enterprises
If you are a larger business, you may need to contribute half of the overall project cost. The average annual contribution to a project for a larger company is approximately £44,000.
KTPs are excellent value, especially as evidence shows that businesses who invest in R&D grow twice as fast and have higher exports compared to non-innovators. The investment made by both the company and Innovate UK should result in significant new wealth creation and a return on this investment.
KTP and R&D tax credits
Research and Development (R&D) tax credits are designed by the government to reward and boost innovation in the UK. More and more companies are discovering that with help from KTP scheme and R&D tax relief, they can realise the full potential of R&D opportunities to help them innovate and grow. Using R&D tax relief can make using University expertise to carry out a research project, more affordable. It can either reduce a company’s tax bill or in some cases provide a cash sum, provided you’re eligible.
If you want to find out more about KTP and R&D tax credits please watch our Thomas Westcott Chartered Accountants webinar.
Academic support
A dedicated team from the KTP Office, our academic experts and access to University facilities, supports the business and KTP Associate (once appointed) through every step of the KTP journey. This helps ensure the smooth running of the KTP and that the maximum benefits are achieved by all partners.
A key outcome is ensuring the new knowledge is transferred and a new capability is embedded within your business so that at the completion of the project you can operate in this new area independently, successfully and with a significant competitive advantage.
Made For Life Organics KTP Team
KTP in action
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Making your project happen
To succeed, the project needs to be strategically important and have the potential to transform your business by making it more competitive and productive. A KTP can last between 12 and 36 months depending on the project and the needs of your business.
An Innovation Funding Manager will be assigned to you and work closely with you in completing the funding application form. Once your KTP has been approved, we will work together to recruit a recently qualified graduate/postgraduate known as the KTP Associate. With the support of the academic team, the Associate will work in your business day to day, focusing on delivering the agreed project objectives. The Associate also undertakes a personal development programme (included in the budget) and the Innovation Funding Manager will be on hand to offer support throughout the project.
Browse our case studies of previous KTPs or take a look at national examples in what KTP can do for you.
Am I eligible?
We will check the feasibility of your idea, tell you if it is suitable for KTP and source the appropriate academics to support your project.
KTPs often result in the development of profitable long-term relationships between the company and the University.
How do businesses take part?
To find out more about how KTP can support your organisation, contact the Enterprise Solutions Team on 0800 052 5600 or email enterprisesolutions@plymouth.ac.uk.