The life sciences sector is one of the most important for the UK economy. It has a £70 billion turnover and employs nearly 235,000.
Most companies in the sector are small and often find it difficult to provide enough real-world evidence to support use of their innovations in the NHS. The funding will help businesses to collect that evidence.
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 small and medium-sized companies that have developed and manufactured innovative healthtech, have gained a CE marking for it and have marketed it in the UK for less than 5 years.