Funding and Costs
How are Knowledge Transfer Partnerships funded?
Each project is part-financed by Government funding organisations - the main one being Innovate UK (formerly Technology Strategy Board). This is complimented by a contribution from your own organisation. The typical amounts are shown below.
|Up to 250 employees||£19,100||£17,900|
|More than 250 employees||£28,650||£26,850|
The majority of that contribution is used to pay a market salary to the Associate (the person you employ to manage the partnership from within your business). You may need to "top up" that contribution to match market rates. Your money will also pay for the release of your academic partner from Greenwich University, who'll spend one day a fortnight supervising the academic part of your Associate's work.
The remainder of your contribution will cover travel expenses, Associates' training, an equipment allowance, and administrative costs.
Are there any other costs involved?
You'll need to cover the day-to-day costs of integrating someone new into your organisation, including management and supervisory time, materials, equipment beyond the amount provided in the grant and, where necessary, accommodation. You'll also be asked to cover the cost of advertising to recruit the Associate.
Read more on the National KTP website