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Feb 1

OLS & Innovate UK: Assessing the impact of medical technologies: apply for funding

innovate-uk-logoThe Office for Life Sciences, in partnership with Innovate UK, has up to £1 million to invest in projects that help developers of innovative medicines, medical devices, diagnostics and digital technologies to evaluate their products in a clinical setting.

This competition will allow small and medium-sized enterprises (SMEs) to generate evidence that the products they are developing can meet the priorities of the NHS.

The life sciences sector

  • Life sciences is one of the most important sectors of the UK economy. More than 5,000 businesses employ around 235,000 people and generate £63.5 billion in turnover
  • Over 95% of businesses working in the sector are small. They often find it difficult to generate sufficient evidence to get their products adopted

Please click here to find out more about how Innovate UK supports innovation in health and life sciences

In line with NHS priorities

Projects can range from smaller ones looking at the feasibility of collecting data to larger ones that support the actual collection of data.

They must be carried out in the NHS and show how they will impact NHS priorities. This includes to:

  • reduce cancellations or unnecessary appointments in primary and secondary care
  • reduce the burden on accident and emergency services, for example, by diverting footfall
  • improve patient safety and avoid patient harm
  • speed up diagnosis, such as improving the scope of lower cost diagnostic imaging
  • enable earlier diagnosis of cancer
  • support the management of long-term conditions, such as diabetes, chronic pain management, cardiovascular disease, asthma and chronic obstructive pulmonary disease

Competition information

  • the competition is open, and the deadline for applications is at midday 21 March 2018
  • projects must be led by an SME working alone or with partners, but only the lead business can apply for funding
  • we expect projects to range in size between £50,000 and £250,000 and to last up to 10 months
  • businesses could attract up to 50% of their costs

Find out more about this competition and apply, please click here