​£1m funding for SMEs to evaluate innovative medical technologies

£1 million of new funding to support the evaluation of innovative medical devices, diagnostics and regulated digital health products has been released. 

The Office for Life Sciences (OLS) in partnership with Innovate UK is to invest up to £1 million to support developers of innovative medicines, medical devices, diagnostics and regulated digital technology to evaluate their product in a real world clinical setting. 

This competition aims to provide support for small and medium-sized enterprises (SMEs) to generate an evidence base that will enable the evaluation of products that address NHS priorities. This support is intended to allow companies to collect and analyse clinical performance and cost effectiveness data within an NHS setting. 

The funding is open to UK-based SMEs carrying out projects within the NHS, and proposals should: 

  • describe the innovative medicine or CE-marked device 
  • include any current up to date evidence of the product’s clinical performance and cost effectiveness * demonstrate how the product meets the priority needs defined in next steps on the NHS 5 year forward view, and how it is expected to deliver significant cost savings, health gains or beneficial service impacts, if quickly adopted across NHS England 
  • provide evidence that you are working with appropriate stakeholders including the National Institute for Health and Care Excellence (NICE), NHS England, National Institute of Health Research (NIHR) and Academic Health Science Networks (AHSNs) 
  • include the development or implementation of plans for data collection within the NHS 
  • outline how studies will generate data on the costs and benefits of a product, allowing evaluation by NICE 

The deadline for applications is 21 March 2018 and for full eligibility criteria, and details on how to apply, visit https://apply-for-innovation-funding.service.gov.uk/competition/111/overview