Companies can apply for up to £1.5 mil for testing of medical devices in new Government announcement
Announced by Innovate UK and UK Research and Innovation, businesses can now apply for a share of up to £1.5 million to support real-world testing of new medical devices, diagnostics and technologies in the NHS.
Innovate UK and the Office for Life Sciences are working in coordination to invest up to £1.5 million in business projects that support the development of new medical devices, diagnostics and regulated digital technology.
The funding aims to help small to medium-sized enterprises (SMEs) gain enough real-world evidence to support use of their innovations in the NHS.
Funding will support either the development or design of plans for collection of data on clinical performance and cost effectiveness or studies that actually collect the data.
It is aimed at SMEs that have developed and manufactured innovative healthcare technology, have gained a CE marking for it and have marketed it in the UK for under five years.
The competition opened on the 26th of November and the deadline for applications is at 12pm on the 30th of January 2019.
The Government has said that projects must be led by an SME working alone or with others and that only the lead SME can claim funding.
It further outlines that it expects planning and preparation projects to have costs of up to £50,000 and actual studies to have costs of up to £250,000. The Government expects projects to last between three and 12 months and estimates that businesses could attract up to half of their project costs.