Biomedical Catalyst is offering UK businesses the chance to win a share of up to £10 million to develop innovative ideas that will help solve healthcare challenges.
The Biomedical Catalyst supports the best life science opportunities in the UK. The competition is being funded by Innovate UK, the Medical Research Council and Scottish Enterprise.
Through two different schemes, cutting-edge companies are encouraged to take part in the competition, which aims to develop innovative healthcare technologies and processes that will help provide:
- Disease prevention and proactive management of health and chronic conditions
- Earlier and better detection and diagnosis of disease leading to better patient outcomes
- Tailored treatments that either change the underlying disease or offer potential cures
The competition will award winners in two different categories:
Early-Stage awards – aims to test a well-developed concept and show its effectiveness in a relevant environment. Projects competing for this award are expected to range in size from total costs of £200,000 to £1.5 million. Projects should last up to 2 years starting by 1 January 2017 and ending by 1 January 2019.
Feasibility Studies – aims to explore and test the commercial potential of early-stage ideas. Projects in this scheme are expected to cost up to £200,000. Projects should last between 3 months and 1 year. starting by 1 January 2017 and ending by 1 January 2018.
The project must be led by a SME. More information on the deadlines and the guidelines for taking part in this competition can be found on this government publication. https://www.gov.uk/government/publications/funding-competition-biomedical-catalyst-2016