News | Wednesday, 20th May 2009
KTP Funding boost for SMEs
Just announced by the Technology Strategy Board:
There is now an extra incentive for SME’s to undertake a Knowledge Transfer Partnerships which reduces the SME contribution by 8%. The reduction is applicable for a period of one year (i.e. one year of an 18 month or 2 -3 year project).
Criteria
Applies to:
- Classic KTPs
- New KTP projects with Offer letters issued April 1st, 2009 - March 31st, 2010.
- Existing projects still running on April 1st, 2009 (contribution reduced pro-rata)
- All SMEs entitled including those in the third sector
How does it work?
The SME will receive a direct reduction payment up to £5,000. This effectively reduces the contribution from 33% to 25% for the first year of the project.
The payment will be made once the first claim has been made and will be initiated by the Technology Strategy Board (TSB).
To find out more about Classic KTPs, visit the MMU Business website, or contact us at enterprise@mmu.ac.uk
