Taking part in a KTP can help you to develop your business. You can get academic expertise that you don’t have in-house. This can improve your business processes and performance, helping you to become more competitive and productive. A KTP is part-funded by a grant, which is paid to the University partner. You will need to contribute to the overall cost of the project.
The amount you will need to contribute depends on the scale and length of the project. It will also depend on the size of your business. Typically:
- Small and medium-sized enterprises contribute around £30,000 per year, about one-third of the project costs
- Large businesses contribute around £45,000 per year, or half of the project costs