Funding of £20,000 available for SME innovation projects
Proof of Feasibility funding of up to £20,000 is now available to support industry-led medtech innovation projects.
Grow MedTech has announced the new package of support available for small and medium-sized enterprises to develop innovative medical technologies by connecting with academic capability within its consortium.
Businesses can access the expertise needed by teaming up with the relevant Grow MedTech researchers to de-risk and advance the development of new medical technologies in order to build confidence for further investment.
£20,000 of grant funding is available for six-month projects that have already established proof of market and clinical needs.
All projects must be based on:
- Collaboration (industry with academia)
- Co-investment (industry match*)
- Industry needs
- Global market opportunity
- Clear clinical drivers, patient benefits
- Expertise within a Grow MedTech University
- Developing a commercially viable product
*30% micro and small companies, 40% medium companies of the total project cost (in-kind and direct cash paid to the university partner).All applications should have a strong emphasis on patient benefit with plans for patient and public involvement and strong clinical engagement is encouraged.
Applications close on 6 May 2020 at 12 noon.