A KTP is part-funded by a grant. A typical KTP project delivers a package of support valued at around £80,000 to £100,000 per year. This includes the costs of:
- the academic team
- project consumables
- the associate’s salary
- mentoring, training and development
- travel and subsistence
The proportion of the costs covered by KTP varies according to several factors, including the size of the business or group and the type of knowledge base you choose to work with.
Businesses will need to fund a proportion of the total project costs, between 50% for larger businesses to 25% for third sector and charity businesses.
For more information, please read the KTP costs guidance.
Many businesses use research and development (R&D) tax relief to recoup some of these costs. To access R&D tax relief, businesses will need to speak with their accountant or seek other professional advice.