The government has just announced the winners of their competition to receive the financing of healthcare innovations. The winners will share over £17 million of funding to make a difference to patient experience and to drive efficiency in healthcare. All of the winners will be developing technology to transform the health and social care market and consequently help to improve patient care.
The Industrial Strategy Challenge Fund
The UK Research and Innovation department have managed the competition within the Industrial Strategy Fund. The Industrial Strategy Fund is part of the £4.7 billion of investment from the government in research and design activities. The purpose of the fund is to encourage innovation from UK businesses to tackle the biggest challenges facing industries.
As well as supporting leading-edge healthcare, precision medicine and healthy ageing, the fund is also available for innovation in robotics, driverless cars, quantum technologies as well as many more.
What are the projects that are receiving funding?
Some of the projects to receive the government funding include;
• Smartphone applications to monitor and improve the treatment of complex wounds
• 3D printing technology for tablets
• GPS tracking app for available hospital beds and porters
• Greater range of medicines through skin patches
• Antibodies that can be taken orally.
The firms and their projects are being developed throughout the UK, highlighting the UK’s strengths in improving an already world-leading healthcare industry.
Making a difference
Explaining how the funding can benefit patients and the healthcare industry as a whole, the Executive Chair of Innovate UK, Ian Campbell explains;
“The projects we have funded today aim to make a real difference for patients and clinicians. They represent the very best of British innovation, focussing on improved patient outcomes and driving efficiency. The UK health sector is thriving, with SMEs playing a crucial role. By supporting this sector, as part of the government’s modern industrial strategy, we can ensure we remain global leaders in health innovation and create the jobs of tomorrow.”
The Secretary of State of Health and Social Care, Matt Hancock has also expressed his support, explained that there are several ways in which the NHS is embracing innovative technology already such as with VR, artificial intelligence and tracking hospital equipment. With this additional funding, the winning projects will hopefully be able to accelerate the progress of improving patient care while also making NHS the most “technologically advanced healthcare system in the world”.