Universities part of £10 million medtech plan
12 Apr 2018
The Grow MedTech partnership is backed by almost £10m of funding and will build on the cluster of medtech expertise in the Leeds and Sheffield City Region.
It will help address issues that can block the process of commercialising products and bringing them from conception to clinical use.
Grow MedTech is led by the University of Leeds, in partnership with Sheffield Hallam University, Leeds Beckett University, the University of Bradford, University of Huddersfield and University of York, among more than 20 partners in the three-year project.
The :Leeds City Region Enterprise Partnership (LEP) and the National Institute of Health Research organisations, councils and chambers of commerce also support the initiative.
By supporting and financially backing researchers and developers to take new products through the early stages of commercial development, the partnership expects to bring around 20 potentially life-enhancing devices into everyday use during the next three years.
This will include taking the business risk out of early-stage projects and providing proof of commercial concept funding, giving investors and businesses confidence that they have a realistic chance of success.
It will also support clinical evaluation to secure regulatory approval, essential for them to be commercialised.
Support throughout the development of devices and products will enable universities to commercialise more MedTech intellectual property and work more effectively with businesses and investors.
Together they will be better able to progress opportunities which will increase the competitiveness of UK Medtech on the global stage.
Dr Josephine Hardy Director of Medical Technologies Innovation at the University of Leeds said:
“We are bringing the best minds in engineering, biology, design and manufacturing together with industry to improve the quality of life for people across the world.”
Examples of technological convergence include connecting robotics and medical imaging systems to automate surgical procedures, and digital health and smart drug delivery services.
The Grow MedTech programme is intended to bring together the extensive resources in the two city regions to stimulate a more-dynamic MedTech cluster.
This will help position UK companies to address forecast MedTech market growth opportunities of £10-30bn per annum for UK industry in the next five years.
CEO of Medilink North of England, Kevin Kiely, said:
“Medilink acknowledges the need to significantly enhance connectivity and drive technology convergence, to fast track and de-risk product development and transform healthcare delivery.
“The Leeds and Sheffield City Regions have a unique MedTech asset base across their academic, clinical and industrial community.
“Medilink North of England, as active partners in the Grow Med-Tech programme, will leverage its extensive health technology network and its unique relationship with the Med Tech industry to support the programme in achieving significant economic, clinical and social impact.”
David Sweeney, executive chair of Research England, added:
“In the Industrial Strategy, the Government asked us to improve our ability to turn exciting ideas into commercial products and services. Universities have stepped forward in this project to show that they can do world-class commercialisation, alongside world-class science.”