£5m funding boost to transform Yorkshire’s medical technology business community
A major funding boost from the UKRI Engineering and Physical Sciences Research Council (EPSRC) will help transform the thriving medical technology (MedTech) business community in Yorkshire.
The EPSRC investment will translate state-of-the-art research from universities into the next generation of innovative healthcare products and services, and help bring them to market.
It will also create jobs and opportunities for future investment and economic growth in the region.
Overseen by the University of Leeds, working with the University of Sheffield and civic partners including West Yorkshire Combined Authority, South Yorkshire Mayoral Combined Authority and regional NHS Trusts, this £5 million funding will help grow the Yorkshire MedTech Industry, and benefit an estimated two million patients by 2040.
Professor Nick Plant, Deputy Vice-Chancellor: Research and Innovation, commented: “This is an extremely exciting opportunity, supporting the world leading MedTech research and development that occurs across Yorkshire.
“This critical funding will further align the fantastic research coming out of universities in our region with the needs of the MedTech industry, speeding up the translation of innovative solutions to marketed products.
“This is a great opportunity for researchers, business and civic partners across the Yorkshire region to work together to drive sustainable economic growth, create high-value jobs and unlock private sector investment in research and development.”
Funding will be offered to research groups across the region working on MedTech products to assess the market and clinical needs for new technologies, as well as supporting preliminary and technical work to bridge the existing gap between research and products in market.
The funding will also support networking events, public and patient engagement activities, workshops and secondments.
Professor Ruth Wilcox, Director of the Institute of Medical and Biological Engineering at the University of Leeds, said: “This funding will support researchers at universities across Yorkshire to work with our strong regional MedTech industry and translate their research into new medical products and services.”
The MedTech business cluster in the Yorkshire region is worth £2 billion, with over 200 companies employing more than 16,000 people, with many staff in specialist, high value roles.
Professor Ruth Wilcox, continues: “This funding will support researchers at universities across Yorkshire to work with our strong regional MedTech industry and translate their research into new medical products and services.”
Professor Miles Padgett, Interim Executive Chair at EPSRC, adds: “I’m pleased to announce our first ten Place Based Impact Acceleration Accounts which will play a unique role in enhancing the capabilities of innovation clusters across the UK. A key priority for UKRI is to strengthen clusters and partnerships in collaboration with civic bodies and businesses, thereby driving regional economic growth.”
The Innovative Devices Access Pathway (IDAP) pilot has been launched, supported by £10 million UK Government funding, which is designed to support the rapid development of innovative technologies that can be introduced into the NHS to address unmet clinical needs for patients and healthcare professionals at the earliest opportunity.
