SBRI Healthcare, an NHS England funded initiative to develop innovative products and services that address unmet health needs, has launched the latest SBRI Healthcare competition with $4.2 million available to support small business.
SBRI Healthcare will be looking for ideas from companies specifically focused on addressing challenges in five key areas of healthcare: child and maternal health, integrated care, medicines adherence, musculoskeletal and telehealth/telecare for people with learning disabilities.
The Small Business Research Initiative (SBRI) healthcare competitions provide seed funding for the development of novel solutions to address major healthcare challenges. Successful projects will be selected on their potential value to the health service, patient benefit and the opportunity to back thriving businesses. Generally taking a three-phased development approach, projects start with a six month feasibility phase with an award of up to $169,000 and then move on to more detailed product development and NHS validation, where companies can secure up to two million in funding support.
Peter Ellingworth, chair of the SBRI management board, said, “Companies can gain substantial funding but also the expert support of the NHS to develop products that truly reflect patient need. We are delighted to launch the latest SBRI Healthcare competition, particularly as it comes so close on the heels of our announcement that in the last year a record 44 companies benefitted from the scheme.”
The competition closes July 10, with the winners announced in October.