£6.5m Euro cash up for grabs in Lancashire

The Innovation Agency has secured £3.5m European Regional Development Funding (ERDF) funding which has been matched by £3m from partner organisations in the region, to support small and medium sized businesses creating innovative healthcare products and services for the NHS.

The European Regional Development Funding (ERDF) funding will be used to support more than 100 Lancashire businesses creating innovative healthcare products for the NHS which will benefit both patients and healthcare professionals.

The Innovation Agency is the Academic Health Science Network for the North West Coast, which acts as a catalyst for health innovation and economic growth.

A dedicated commercial team at the Innovation Agency is working with Lancaster University to help Lancashire businesses to create, develop and launch their healthcare solutions to the NHS.

Support for healthcare SMEs includes clinical evaluation advice and input, procurement, pilot schemes, developing business cases, targeting finance, plus tailored marketing for the NHS with a particular focus on NHS adoption. This is particularly important in light of Lancaster University’s forthcoming Health Innovation Campus, which is due for completion in 2019.

Innovation Agency commercial programme manager Steve Adams said: “We are delighted to be working with Lancaster University as our delivery partner to drive healthcare innovation in Lancashire. Ultimately this investment will benefit the North West’s population through improved healthcare, additional employment and a healthier local economy.”

The broader ERDF programme is being delivered by the Innovation Agency.