Innovate UK have recently announced new changes across their KTP programme.
“So what’s new in KTP?” (if you’re new to this acronym, an explanation can be found here)
I’m glad you asked.
- Firstly, the application process has changed. The previously known Expression of Interest form has now been removed from the process and replaced with a one-page optional Fact Finding Form. There is also a new application form that is shorter than the previous form yet more or less requires the same information as the previous application form. This has changed to be more in line with other Innovate UK competitions
- Innovate UK do not want to see applications for multiple projects with the same company. A project would have to be deemed as exceptional to receive KTP funding for a third project with a company
- There are six submission deadlines a year and each deadline is classed as a separate competition and thus each proposal will be ranked among the applications within that competition
- The awarding process will no longer approve applications subject to amendments – applications will now either be awarded or rejected
- The Associate employment costs caps as part of the project budget have been removed. The total amount the partnership can request funding for is £35,000, though as ever, this request will need to be justified
- The Associate recruitment is a solid nine months to recruit. If a partnership fails to recruit an Associate in those nine months, the partnership will have to apply for funding again and resubmit their project application
The aim of these changes are to increase the speed of the KTP process to get projects started quicker and to simplify the process of KTP.
If you have any questions about these changes or KTP in general, please contact Rachel Clarke, KE Adviser (KTP) on (01202 9)61347 or email email@example.com