Funding and Costs
KTPs are part funded by a Government grant with the balance of the costs borne by the project’s business partner. Led by Innovate UK (formerly Technology Strategy Board), the aim is to continue to work in partnership with an increasing number of sponsors to further broaden the areas and topics that the programme covers.
The budget for any individual KTP, and a company's contribution to it, depends on the details of the specific Partnership. Currently, average annual project costs are c.£60,000 and the grant awarded per project is calculated on:
- Number of KTP Associates to be employed
- Length of project
- Company size
The largest part of the costs is the employment cost of one or more KTP Associates, with companies enhancing the salaries of the associate(s) if required. The remainder includes provision for equipment and travel costs, the university’s administrative and academic costs and costs associated with the personal and professional development of the KTP Associate(s). Companies will need to cover the full overhead costs of their own participation in a Partnership, e.g., management and supervisory effort.
Typical contribution is as follows:
Overall contribution (based on annual budget of £60,000)
Included in Costs
SME : <250 employees
Large: >250 employees
33% = £20,000 per annum
50% = £30,000 per annum
|Associate’s employment, equipment, travel and subsistence, consumables, university’s administrative and academic costs, training and development|
A KTP may not be appropriate for every business. Very small businesses or very recent start-ups may not have the capacity to provide support for the KTP Associate or the resources to commit to the project however Welsh Government will sponsor Shorter KTPs for micro organisations.
Our KTP Officers will provide advice and guidance during the early discussions about the project, and will clarify whether the sponsors will be satisfied with the financial viability of your business, to ensure that your time isn’t wasted. If a KTP is not viable the KTP Officer will discuss and propose alternative options.
Method of payment
Companies are invoiced by the University quarterly in arrears. For a full breakdown of the costs and queries relating to funding and costs please contact the KTP team at firstname.lastname@example.org