Healthcare SMEs could gain £100,000 in funding » SMEInsider

Healthcare SMEs could gain £100,000 in funding

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The Small Business Research Initiative for Healthcare (SBRI) has announced the launch of its latest healthcare competition, in which 12 small businesses could benefit from £100,000 development funding.

SBRI Healthcare is an NHS England funded initiative whereby British SMEs have the chance to create products which combat specific health needs.

Launched in 2009, the initiative is once again ready to award a total of £1m for ideas from small businesses focused on addressing challenges in older people.

‘‘With people living longer and patients’ needs changing as a result, the NHS faces particular challenges in supporting frail older patients living with a range of chronic conditions. The latest SBRI Healthcare competition recognises the increased burden being put on primary care services and challenges companies to come forward with enabling ideas,’’ commented Karen Livingstone, director of SBRI Healthcare.

This Phase 1 funding is aimed to combat health areas including falls, incontinence and decline in functional ability. Small businesses that are successful in the six month feasibility stage (Phase 1) are eligible to move on to more detailed product development and NHS validation where up to £2m in  further funding support can be secured across two additional phases.

‘‘We are always excited to see innovative technologies at an early stage in their development and in this case, to support companies in realising the potential of their products to extend patients’ lives and maximise NHS resources,’’ continued Livingstone.

The competition closes on August 11, 2015 with winners announced in December. Briefing events for businesses to learn about the competition will take place in Birmingham on June 18th and in London on June 25th. For more info on the briefing events please click here.