Investor Partnerships in Health Technologies Grant Program (UK)

Innovate UK, as part of UK Research and Innovation, will work with West Yorkshire Combined Authority to invest up to £2 million in innovation projects. This competition brings together:

• Innovate UK’s expertise in identifying innovation and using grant funding to change the risk profile of businesses
• investor partners’ aligned funding and expertise in identifying opportunities and teams that can best use extra investment finance
• the ambition of West Yorkshire Combined Authority for innovation led growth in the health technology cluster

The aim of this competition is to provide support for your research and development and access to the capital investment that you need to develop and commercialise your innovations and grow your business.

Focus Areas

• They encourage innovation involving communities that are typically under-represented, including:
  • Ethnic minority groups
  • Women and other marginalised genders
  • Disabled people
  • People with non-traditional education backgrounds

Themes

• Your project can focus on one or more of the following:
  • medical devices
  • diagnostics, including In-Vitro Diagnostics (IVD)
  • digital health, including data driven health technologies and artificial intelligence (AI)
  • This list is not exhaustive. Where you can show your proposal fits within the scope of this competition you can focus on other themes.

Funding Information

• For feasibility study projects:
  • your total project costs must be between £50,000 and £300,000
  • the project duration must be between 6 and 12 months
• For industrial research projects:
  • your total project costs must be between £100,000 and £1 million
  • the project duration must be between 6 and 18 months
• For experimental development projects:
  • your total project costs must be between £250,000 and £2 million
  • the project duration must be between 12 and 18 months

Eligible Projects

• Your project must focus on human health technology innovation. You can address any human health challenges that include, but are not limited to:
  • overcoming health inequalities
  • global net zero challenges in healthcare
  • major health conditions
  • the prevention of disease
  • earlier and better detection and diagnosis of disease
  • other challenges that can be tackled with health technologies

Ineligible Projects

• They are not funding projects that are:
  • not carried out by SMEs
  • collaborative R&D projects
  • unable to demonstrate that there is potential for return oninvestment and growth
  • large capital infrastructure
  • not invited by one of Innovate UK’s investor partners
  • not meeting the competition eligibility or scope requirements
  • purely a result of reports, academic papers or similar
• They cannot fund projects that are:
  • dependent on export performance, for example, giving a subsidy to a baker on the condition that it exports a certain quantity of bread to another country
  • dependent on domestic inputs usage, for example, giving a subsidy to a baker on the condition that it uses 50% UK flour in their product

Eligibility Criteria

• This competition is open to single applicants only.
• To apply your business must:
  • be a UK registered micro, small or medium sized business (SME)
  • carry out all of its project work in the UK
  • intend to exploit the results from or in the UK
  • be invited to apply by your investor partner
  • have agreed your proposal with your investor partner before submitting
  • be able to complete the aligned investment before the start of your project, through the issue of new shares or convertible debt
  • have sufficient capital resources to enable you to meet all your project’s eligible costs, including through the grant funding and the aligned investment.

For more information, visit GOV.UK.