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.

Pie chart showing KTP funding

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