£300k fund opens to bring innovative healthcare products to market
Businesses with innovative healthcare products or services have been urged to apply for a share of a £300,000 facility as a Health Innovation Manchester funding opens.
The Momentum Fund has been established to support the introduction and adoption of needs-led, evidence-based innovations into the healthcare system within Greater Manchester.
This year, the fund is looking at innovations focused on two themes:
• Urgent and Emergency Care – including innovations to address challenges in primary and community care, improve the quality, safety and efficiency of services or improve patient flow.
• Cardiovascular disease, diabetes, nutrition or obesity (Cardiometabolic needs) – including the proactive use of technology to improve prevention and public health awareness, earlier and increased accuracy of disease and management of conditions closer to home and in the community.
Companies and small and medium-sized enterprises (SMEs) with innovations which are either market-ready or close to being market ready are welcome to apply.
All applications must include evidenced involvement from an NHS or social care organisation within the Health Innovation Manchester footprint, which encompasses Greater Manchester and East Cheshire.
Applicants may apply for funding between £25,000 and £75,000 which can be used for a variety of projects to advance their innovation, including market research, evaluation, clinical testing, third-party professional fees and activities that will enable early stage revenue generation, such as limited production and sales.
Projects funded can last up to 12 months and will be monitored against agreed milestones and outputs.
Through the fund, academic health science and innovation system Health Innovation Manchester aims to improve the health of citizens and promote economic development and wealth creation through the growth of local businesses and jobs.
Richard Deed, Industry at Health Innovation Manchester associate director, said: “Urgent and Emergency Care and cardiometabolic conditions are two priority areas for Greater Manchester and East Cheshire and we are looking to find and support companies and healthcare innovators who are working to make a difference in these key areas.
“Our previous Momentum Fund winners have been successful in bringing their innovations to market and the health and care services, making a difference to our local area and beyond.
“We want to hear from companies who are as passionate as we are about improving the health and wellbeing of our citizens and boosting the local economy.”
Companies interested in applying for Momentum funding should fill in an initial application before 12 noon on October 16, 2019. Successful shortlisted will then be invited to submit a full application and deliver a pitch to the review panel. Winners are expected to be announced in February 2020.
For more information and to apply via the Innovation Nexus Portal visit: in.healthinnovationmanchester.com/