Healthcare innovators encouraged to apply for piece of 300k funding

Companies offering innovative healthcare products are being invited to apply for a share of £300,000 funding.

Applications are now open for the Momentum Fund, which was set up to support the introduction and adoption of needs-led, evidence-based innovations into the healthcare system within Greater Manchester.

The fund, which is organised by Health Innovation Manchester, is on the lookout for innovations that enhance mental health or community-based care. Other innovations will will be considered.

Small and medium-sized enterprises (SMEs) with technologies 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 from Greater Manchester or Eastern Cheshire.

Applicants may apply for funding up to a maximum value of £50,000 and 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 will last up to 12 months and will be monitored against agreed milestones and outputs.

Richard Deed, associate director for industry at Health Innovation Manchester, said: “Following the earlier successful funding rounds, we are delighted to launch the Momentum fund and look forward to supporting more SMEs and healthcare innovators within this round.

“Previous Momentum Fund recipients have gone on to bring their innovations to market and have begun to make a real difference within Greater Manchester and beyond.

“We are keen 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.”

SMEs interested in applying for Momentum funding should fill in an initial application before 12pm on 5 December 2018.

Successful applicants will then be invited to submit a full application and deliver a pitch to the review panel.

Winners are expected to be announced in March, 2019.