Funding & Investment
There are a number of different sources and types of funding available to support innovation and R&D activities in the Medtech Sector. These can range from grants to pre-commercial procurement contracts (SBRI) to investments made in return for equity or other future return on investment.
The Health Enterprise East Innovation Team can assist you in understanding which of these sources and types of finance might best suit you depending on which stage of the product development pathway you are on.
HEE either manage or have involvement in the following schemes:
- HEE Development Funding – for eligible NHS organisations only
- Medtech Accelerator proof of concept award scheme – primarily for eligible NHS organisations
- SBRI Healthcare programme pre-commercial procurement contracts – mainly for SMEs and public sector spin-outs
- Medovate - Innovation development company dedicated to the commercialisation of pioneering medical technologies created within the NHS.
To determine the best option to suit your organisation, your eligibility for each scheme or to gain advice on other potential funding streams you are advised in the first instance to call (01223) 928040 or email Enquiries@hee.co.uk and ask for a member of the Innovation Team.
HEE Development Fund & Disclosure Form
If you are a member of NHS staff within one of HEE’s member organisations you can access HEE’s own internal development funding by using our simple disclosure form to tell us about your idea or innovation.
The information disclosed will be treated as confidential and following a review an Innovation Manager from HEE will be in touch to discuss the disclosure with you.
This initial review takes up to 4 weeks and it may be necessary to meet to discuss an idea further.
Following the review, HEE will provide your organisation with feedback and recommended next steps, including any proposed development support which may be offered by HEE.
£1.5 million is available with individual awards to be made of between £15,000 and £125,000 to innovation projects that show the potential to create future spin-out companies.
For further information please visit the dedicated Medtech Accelerator website.
The initiative supports a programme of competitions inviting companies to come forward with their ideas and new technologies for known NHS challenges.
SBRI Healthcare has two primary-phases that start with an initial identification of unmet need, undertaken by clinicians. Challenges are offered to industry to test the feasibility of their ideas and these projects, if successful, can result in a contract to develop the product.
Awards range from up to £100k in Phase 1 (feasibility) and up to £1m in Phase 2 (development).
For further information please visit the dedicated SBRI Healthcare website.
Backed with £9 million of investment capital, Medovate identifies and works with high potential medtech innovations. Medovate inject the specialist management resources and finance required to support innovation development through clinical trials and regulatory approval.
By providing funding and support at a crucial point in the development of innovative medical technologies, Medovate accelerates innovations to market in order to benefit patient care and healthcare delivery.
For further information and to register for updates please visit the dedicated Medovate website.