TBAT Innovation Ltd are pleased to announce the latest round of Innovate UK’s funding competition ‘SME support to evaluate innovative medical technologies’ is due to open on 26th November 2018.
The competition is aimed at SME’s that have developed and manufactured innovative health-tech which includes medical devices, diagnostics and regulated digital healthcare products that are commercially ready. The tech must have gained a CE marking but not have been marketed in the UK for more than 5 years.
The funding is to help SME’s access real world clinical settings to test and collect data on its performance, cost effectiveness and impact in the NHS in order to effectively evaluate their product which will enable them to prove that their technology would be advantageous to the healthcare system.
The competition supports the development or design of plans for the collection of clinical data in a real-world setting and support the running of these studies.
Priority areas for the technologies are:
– Reduction of cancellations or unnecessary appointments in primary and secondary care
– Reduction of the number of people that need to use A&E services
– Improvements in patient safety and avoid patient harm
– Speeding up diagnosis, such as improving the scope of lower cost diagnostic imaging
– Enabling earlier diagnosis of cancer
– Supporting the management of long-term conditions, such as diabetes, chronic pain, cardiovascular disease, asthma and chronic obstructive pulmonary disease
There is a total of £1.5 million available in funding and you can apply for funding to cover up to 50% of eligible project costs.
Funding is available through 2 options:
Option 1: project costs of up to £50,000 for support to develop detailed and feasible plans for the collection of relevant data in a clinical setting
Option 2: project costs of up to £250,000 for support to collect and analyse real world data the helps evaluate the impact of a product
Both options require plans to have been made with appropriate stakeholders such as National Institute of Health Research (NIHR) and National Institute for Health and Care Excellence (NICE) and Academic Health Science Networks (AHSNs).
Closing date for this competition is 30th January 2019.
If you require any assistance in preparing, writing, or reviewing your application for submission into this competition, TBAT have vast experience in writing Innovate UK applications and have a resident Med-Tech expert to assist businesses with this competition!