Innovative SMEs sought to solve healthcare challenge and secure £35k funding » SMEInsider

Innovative SMEs sought to solve healthcare challenge and secure £35k funding

Up to £35,000 of support is being offered to tech-savvy SMEs with an innovation or product ripe for commercialisation to help solve a real-life healthcare issue.

The Horizontal Innovation Programme has been launched by the Institution of Engineering and Technology (IET) and the Manufacturing Technology Centre (MTC) to capitalise on technology that can be used to solve challenges in sectors other than which they were first developed.

Naomi Climer, IET president, said: “The UK is renowned across the world for creativity and innovation, but we aren’t always so good at commercialising our innovations. This is particularly difficult for SMEs who face barriers and challenges at the product development stage including funding, expertise, business processes and technologies.

“Through this programme we are offering one lucky SME the opportunity to gain access to highly skilled engineers and some of the world’s most advanced manufacturing equipment, enabling them to develop and commercialise a technology solution on an industrial scale.”

The initiative will fund and support a UK technology business in solving some of the current NHS challenges.

The selected applicant will have access to the MTC’s flexible factory capabilities, as well as receiving support in business planning, product design, IP protection and engineering expertise.

SMEs should submit a proposal that demonstrates how their technology solution can used and commercialised in the healthcare sector, in particular to address the current NHS challenges within emergency care. The proposal should aim to solve a real-life issue within NHS patient care, which could include anything from initial patient transportation through to recovery.

For further information, visit www.theiet.org/hi-sme.

Entries must be received by 30 September 2016.