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How is a KTP funded?
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- How is a KTP funded?
This [KTP project] has allowed us to be more aggressive in our business market place and has led to increased turnover and an increase in profit going forward.
Nigel Thornton, Company Supervisor, Collett & Sons Ltd
Each KTP is part-funded by Innovate UK on behalf of the government. Higher rates of funding (up to 67%) are available to SMEs and companies applying for their first KTP.
Most companies, however, large or small in a variety of sectors are eligible for KTP, and a typical KTP lasts between 12 and 36 months.
Typical costs per annum for an SME would be £23,000, and spend on KTPs is eligible for research and development tax credits, further reducing the costs of collaboration. More information can be found on the government’s website.
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