SMEs can apply for £5 million in funding to develop ‘cutting-edge’ health products
Announced by Innovate UK, the National Institute for Health and Care Excellence, and UK Research and Innovation, small or medium sized businesses (SMEs) in the UK can now apply for a share of up to £5 million to develop new digital health products.
The aim is for SMEs to create innovative digital healthcare solutions to improve the lives of patients and reduce costs for healthcare providers.
SMEs can work alone or collaborate with others, including other businesses, NHS organisations, universities, research and technology organisations, public sector organisations or charities.
Innovate UK, part of UK Research and Innovation, has up to £5 million available to invest in projects through the digital health technology catalyst, a programme that aims to accelerate the development of digital health innovations.
The competition is part of the Industrial Strategy Challenge Fund, which looks to deliver cutting-edge healthcare in the UK.
In addition, the competition is supported by the National Institute for Health and Care Excellence (NICE), which will provide successful projects with its real-world data advisory services, DataLab.
DataLab aims to connect expertise across the NHS and academia through the institute’s data research.
Successful applicants will be able to work with DataLab to get advice and consultancy across four key areas: the application and use of real-world data; ensuring health data is secure; how to evaluate digital health interventions; and additional scientific advice from NICE, and how to demonstrate the value of a project to the UK and international health systems.
Neurofenix was a previous digital health technology catalyst winner, which creates products to help people who have had a stroke to recover, including its Neuroball innovation.
Projects must do one or more of the following: improve health and wellbeing; transform care to improve quality; and control costs and enable change. Ideas could be for use in a clinical or non-clinical setting.
The competition opens on the 11th of February 2019 and the deadline for applications is midday on the 10th of April 2019.
Total costs can be between £300,000 and £1 million and businesses could get up to 70 percent of their project costs.https://thiis.co.uk/smes-can-apply-for-5-million-in-funding-to-develop-cutting-edge-digital-health-products/https://thiis.co.uk/wp-content/uploads/2019/01/healthcare-business.jpghttps://thiis.co.uk/wp-content/uploads/2019/01/healthcare-business-150x150.jpgGovernment & LegislationInvestments & FundingNewsroomcompetition,DataLab,healthcare competition,healthcare innovation,healthcare technology,healthcare technology investment,Industrial Strategy Challenge Fund,Innovate UK,National Institute for Health and Care Excellence,Neuroball,Neurofenix,SME,UK Government,UK Research and InnovationAnnounced by Innovate UK, the National Institute for Health and Care Excellence, and UK Research and Innovation, small or medium sized businesses (SMEs) in the UK can now apply for a share of up to £5 million to develop new digital health products. The aim is for SMEs to create...Sarah SarsbySarah Sarsbysarah@thiis.co.ukAdministratorTHIIS Magazine