€50K up for grabs as EIT Health launches Proof of Concept and Headstart funding applications

Posted on 8 April 2016 (Permalink)

As part of its “Accelerator” activities, EIT Health has launched the application process for funding for emerging companies and SMEs across the UK and Ireland to develop new healthcare products and services. 

The purpose of the funding is to accelerate market entry and create new economic activity, and applications to support research will be rejected. Seven awards of up to €50K are available across the whole of the UK and Ireland CLC area, across the two funding streams, and must be spent by 31 December 2016. Companies can apply for less than the maximum. The funding streams are: 

  • Proof of concept funding is suitable for individuals and organisations that have a well-developed prototype and a ready-to-launch product. Applications will be accepted from organisations that are not yet incorporated as companies, but it is expected that a company will be formed within six months of the funding
  • Headstart funding is open to established companies that are already trading in the UK and Ireland but wish to explore new markets. 

EIT Health is now seeking applications from companies and individuals based in the UK and Ireland in the following challenge areas, defined by industry partners, as follows: 

  • P&G Challenge: Innovation in consumer products 
  • IBM & Pfizer Challenge: Novel solutions for improving medication adherence
  • Pfizer Challenge: new solutions to facilitate chronic disease management
  • “Wild Card” Challenge. 

More information about these areas is provided on the Proof of Concept and Headstart funding briefing. In addition to the €350K available, the industry partners will provide access to innovation facilities and networks, as well as mentorship to successful applicants.

Proposals must be received by noon on Tuesday 31 May 2016. Applicants should provide a completed application form and a video pitch by email to paddie.murphy@wmahsn.org. Please note, word limits must be strictly adhered to; any sections that exceed the word count will be excluded. It would be appreciated if you would contact Paddie in advance if you are interested in applying, so that full support and advice can be made available to you. 

Proposals will be reviewed by a team of experts drawn from the UK and Irelands EIT Health CLC and representatives of local venture capital firms, and confidentiality agreements will be in place. Successful proposals will be those that provide a compelling case for the use of the funding to accelerate the route to market.