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Finance and Funding
The Innovation Agency can provide access to financial support to enable the further development and commercialisation of a new idea.
We can provide an overview of the latest funding opportunities from regional, national and European sources, create bespoke funding and finance support through our partnerships with investors, develop funding plans to help bring an innovation to market, and offer funding application support, including access to charitable grants.
The Innovation Agency has been successful in securing significant funding for feasibility studies, product development and evaluation.
The Innovation Agency also champions the NHS England initiative, Small Business Research Initiative (SBRI Healthcare) which encourages small and medium-sized enterprises to respond to NHS clinical challenges nationally. The SBRI initiative is a three-phased approach which starts with a six-month feasibility phase with an award of up to £100,000 and then moves on to product development and NHS validation, where companies can secure up to £1 million in funding support.
Through SBRI-led challenges we have helped facilitate £5.6m of funding for projects focussed on patient safety, medicines adherence and child and adolescent mental health.
The Innovation Agency is also a partner with the European Institute of Innovation & Technology (EIT) Health where funding opportunities also exist for SMEs. The EIT Health Accelerator programme gathers health industry entrepreneurs, provides access to a European network of living labs, test beds and investors and links innovators to public and private funding.
Our Business Connect Newsletter also provides up-to-date funding opportunities including from Innovate UK, Department of Business, Innovation & Skills, Horizon 2020, The National Institute for Health Research and NHS England.
If you require additional information regarding finance or funding, please contact our Business Connect Team on 01772 520263 or via the online Business Connect form.