The Innovate UK, in collaboration with the West Yorkshire Combined Authority, is offering a grant program called the Investor Partnerships in Health Technologies Grant Program. This initiative aims to invest up to £2 million in innovative projects within the health technology sector. By combining Innovate UK’s expertise in identifying innovation, investor partners’ funding, and the ambition of the West Yorkshire Combined Authority, the competition seeks to support research and development, access to capital investment, and commercialization of innovations to facilitate business growth.
The focus areas of the competition include encouraging innovation among under-represented communities such as ethnic minorities, women, disabled individuals, and those with non-traditional education backgrounds. Participants can choose from various themes for their projects, including medical devices, diagnostics, digital health, and more.
The grant program offers different funding ranges and project durations based on the type of project – feasibility study, industrial research, or experimental development. Eligible projects must focus on human health technology innovation and address challenges like health inequalities, global net zero healthcare challenges, disease prevention, and better disease detection and diagnosis.
However, ineligible projects include those not carried out by SMEs, collaborative R&D projects, those lacking potential for return on investment and growth, large capital projects, and those not invited by Innovate UK’s investor partners. Additionally, projects dependent on export performance or domestic inputs usage are also not eligible for funding.
To be eligible, applicants must be a UK registered micro, small, or medium-sized business, conduct all project work in the UK, intend to exploit results in the UK, be invited by an investor partner, and secure the required investment before project commencement. Further details and application information can be found on the GOV.UK website.
Source: fundsforcompanies.fundsforngos.org…
