Up to $50,000 is available from the Knowledge Transfer Partnerships Program to support partnerships between universities and small business in hiring a university graduate to work on an innovative project.

Knowledge Transfer Partnerships Program

 

Knowledge Transfer Partnerships Program

The Knowledge Transfer Partnerships Program supports collaboration and knowledge transfer by enabling businesses to partner with universities to select graduates for specific projects in the businesses.

 

Background

The Knowledge Transfer Partnerships Program forms part of the Advance Queensland initiative, helping to create partnerships to exchange skills and ideas to inspire innovation.

Under the Knowledge Transfer Partnerships Program, eligible businesses apply in partnership with universities for funding towards the costs for businesses to employ graduates on strategic innovation projects. Universities facilitate the selection of the graduates and mentor them during the projects

 

Objective

The Knowledge Transfer Partnerships  program aims to:

  • strongly encourage increased linkages and closer collaboration between Queensland businesses and universities
  • support and encourage innovation and productivity improvement within business
  • create knowledge based jobs.

 

Funding

The Knowledge Transfer Partnerships Program funding will cover two-thirds of eligible project costs, up to $50,000 (excluding GST), for eligible participating businesses,comprising the salary of a graduate to work on a project and some costs directly associated with the graduate’s work.

The program will also provide a service fee for the university’s coordinating and mentoring role (minimum of four hours per month). Service fees to the university will not exceed $10,800 (excluding GST) per project (for a 12 month project). This remuneration is in addition to the business’ funding allocation.

 

Eligible Projects

The Knowledge Transfer Partnerships Program project must:

  • meet the definition of a strategic innovation project
  • commence within 90 days after the Queensland Government signs the application approval
  • be completed within the agreed project timeframe (all projects must be completed within a six to 12 month timeframe)
  • have a distinct set of activities, with aims and outcomes achievable within set timeframes
  • be of strategic importance to the business

 

Eligible Applicants

To be eligible for the Knowledge Transfer Partnerships Program funding, a business must:

  • be Queensland based and GST registered with an Australian Business Number
  • have been operating for two years or more
  • have 200 full-time equivalent staff (FTEs)
  • have a strategic innovation project that would benefit from collaboration with a university
  • be prepared to manage the project
  • provide a statement of viability from the business accountant or two year accountant prepared financial statements including profit and loss and balance sheet.
  • contribute one-third of the eligible project costs.

 

Eligible Graduates

To be eligible for the Knowledge Transfer Partnerships Program a graduate must:

  • be a recent graduate with Honours, or a Masters or a PhD graduate from a Queensland based university (AQ8 level or higher)
  • have achieved the above qualification within the last two years
  • be able to work for a six to 12 month period
  • be assessed by the university and business to have the necessary skills that match the requirements of the project.

 

Timing

Applications close 28 August 2017.

 

More Information

 

Recent Recipients