• Earzz
  • £1.5m funding available for medical device innovations

    A new competition has been launched by the that aims to provide SMEs developing medical technologies the chance to apply for a share of £1.5 million to help evaluate medical devices in real-world clinical settings.

    The government says Life sciences is one of the defining industries of the UK, with over 5,000 companies and 250,000 employees and a turnover of £70.3 billion. It is also a sector that fosters growth, with more than 95% of life sciences businesses being micro, small or medium-sized enterprises (SMEs).

    However, a 2016 Accelerated Access review revealed that life sciences SMEs often face obstacles in presenting real-world evidence – within an NHS setting – to support their efforts to get their innovations commissioned within the NHS to help patients.

    The new competition, launched by Innovative UK and the Office for Life Sciences aims to provide support to SMEs to develop evidence to show how their products would perform in a NHS environment. 

    Two options are provided, support collecting clinical performance and cost effectiveness, with total project costs up to £250,000, and support to develop detailed and feasible plans for the collection of data, with project costs up to £50,000.

    Projects must have a product that aligns with at least one NHS priority healthcare area, as detailed in the NHS Longterm Plan and/or have a product currently available for the NHS to purchase but has been marketed in the UK for less than 5 years.

    The competition will give priority to projects that relate to cancer, ageing well, digital transformation, learning difficulties and autism, mental health, personalised care and prevention. 

    Projects must start by 12th December, 2019and be completed by December 20120.

    The competition is now open and will close at midday 3rd July, 2019.

    For more details, click here.


    Stuart O'Brien

    All stories by: Stuart O'Brien

    Leave a Reply

    Your email address will not be published.