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The Innovation Nexus

Companies, especially SMEs, can face significant challenges to introduce their new and innovative products into the NHS. The complexity of public procurement, patient safety and a risk averse culture across multiple organisations can be daunting. The Innovation Nexus aims to provide a single source of resource that can help companies, particularly SMEs, understand the steps that need to be taken to support their business planning and engage with the NHS more easily, thus progressing the adoption of their innovation at pace and with fewer unanticipated obstacles.

How can the Innovation Nexus help me?

Speak directly to a Health Innovation Manchester advisor with NHS expertise

Help with navigating NHS procurement

Information about funding and investment

Help with setting up a trial of your innovation

Information on science parks and office locations

Connect you with relevant organisations

Procurement

Health Innovation Manchester, via the use of dedicated Procurement Advisors, aims to provide support and advice to SMEs and innovators to enable them to understand the NHS commissioning and procurement landscape with the intention of increasing their share of the NHS marketplace and will also provide support and advice to NHS organisations to help them to increase spend with SMEs as part of the requirement to continuously improve their procurement performance.

Health Innovation Manchester’s Procurement Advisors will work in partnership with NHS Procurement colleagues and industry to increase the alignment and relevance of innovative new products and services to meet the needs of the NHS and patients.

We will work closely with academia, incubators, growth and accelerator hubs and Chambers of Commerce to identify SMEs and innovators developing products and services for the healthcare sector who may require our support and advice.

We will work in partnership with the Small Business Research Initiative (SBRI), National Institute of Health Research (NIHR), NICE, the Department of Business, Innovation & Skill (BIS) and the local Clinical Research Network (CRN) to ensure that innovations are more easily matched to NHS needs and commissioning organisations are aware of the new products and services.

Funding

If you are looking for funding to help support the development of an innovative healthcare product or service there are a number of potential funding sources available to companies working alone or in collaboration with an NHS organisation. In some cases, the funding may need to be applied for by an NHS partner organisation and in others a company can apply directly for funding. In most cases a condition of the funding will be that a collaboration agreement is put in place between all of the parties involved in the work to cover IP ownership and revenue sharing arrangements. In addition to the funds listed below, it is always worth carrying out a general search for funding in the area in which you are working, as grants are often topic-specific.

Grants

 

There are many types of grants and they can be broadly categorised into grants that are given for early stage R&D type developmental work or later stage evaluation studies. Many grants are announced and awarded on a cyclical basis, i.e., bi-annual calls, or are announced and awarded on a short term and reactive manner to a current issue, i.e., Healthcare Associated Infections.  Some grants are regionally focused others are topic specific. The majority of the large grants are awarded by national charities and research councils, but other smaller awards are often awarded by local initiatives such as councils and discipline specific charities.

Knowledge of what grants are available is a full time occupation and some of the Innovation Nexus Associates can provide this knowledge.

 

Investments

 

Investments are provided by institutions or individuals to help develop products and services with an intention of paying back the investment with a return.

Like grants, investments range in size and scale from small investments from local investors and Business Angels to large Venture Capital organisations and Corporate Financiers.

Knowledge of what investments are available and the terms associated with them is a relatively complex business, however some of the Innovation Nexus Associates can provide this knowledge.

 

Health Innovation Manchester – Funds

 

Health Innovation Manchester has a suite of Innovation Funds to support and stimulate the development of innovative technologies.

Find out more about how to apply using the following links:

 Ignite Fund (CLOSED)

 Energise Fund (CLOSED)

 Momentum Fund (CLOSED)