Welsh Government increases funding contribution for SMEs in Knowledge Transfer Partnerships to 75%
New Welsh Government initiative to help SMEs based in Wales.
Knowledge Transfer Partnerships (KTPs) are a core component of Wales’ R&D and innovation offer to businesses and the aim of this initiative is to make KTPs more accessible and cost effective for SMEs and encourage more businesses to benefit from the programme.
With the current difficult economic environment, The Welsh Government has announced that they will contribute 75% towards the total costs of KTP projects that meet the eligibility criteria and are approved for participation in the KTP programme. SME businesses are usually expected to contribute 33% of the total project costs, but eligible businesses in Wales will now only have to contribute 25%.
KTP, and the new Management KTP, help businesses improve their competitiveness, productivity and performance through better use of knowledge, technology and skills by developing a partnership with a university, college or Catapult center. Partnerships jointly develop the proposal to address a specific business need and must submit their proposal for assessment between 1st September 2020 and 12 noon on Wednesday 3rd February 2021. Only applications received during this time will be eligible for this funding.
The partnership can vary in length from one to three years according to the needs of the business. Businesses from all sectors are welcome to apply.