Innovative life sciences SMEs in the West Midlands offered support worth up to £50k


Posted on 27 December 2017 (Permalink)

Are you a start-up or a small to medium-sized enterprise working in the West Midlands to deliver improved healthcare? Do you have the potential to change how healthcare is delivered? The SME Innovation Fund can provide the support you need to help your business grow.

Mercia Fund Management, a leading investment business, is collaborating with the West Midlands Academic Health Science Network (WMAHSN) to help build and support healthcare businesses across the West Midlands.

The SME Innovation Fund will provide investment and provide excellent links to the NHS, investment community and academic networks. In doing so, the fund will support innovations that have the potential to deliver a high impact for society, grow the reputation of the West Midlands’ health services and lead the adoption of new innovations in the NHS.

Successful applicants will receive:

  • Convertible loans of up to £50,000
  • Unparalleled access to future investment capital
  • Regular mentor workshops from industry experts, including experienced life sciences entrepreneurs
  • Key contacts in the NHS and healthcare sectors.

The fund has already supported 10 companies to grow and funds are now available to invest in a new venture.

Mercia has a strong track record of financially supporting and building life science businesses across the UK, all of which provide a scalable and innovative way of streamlining services, improving patient safety and releasing the burden of cost on the NHS.

The fund will be led by Peter Dines, Investment Director and Head of Life Sciences at Mercia. Peter said: “The NHS is constantly looking to improve patient care and deliver more for less. Given the current cost constraints, it is more important than ever that we build and fund businesses that can improve patient care in a cost-effective and sustainable way.

“Mercia has already lent its support to start-ups and spin-outs across the spectrum of medical technologies, and we look forward to discovering further investment opportunities within the diverse healthcare sector.”

Tony Davis, Commercial Director of WMAHSN, said: “The fund is a sign of our continued commitment to SMEs in the West Midlands’ life sciences sector, helping to create wealth in the local economy through industry collaboration and attracting inward investment, as well as delivering improvements in healthcare across the region.

“The SME Innovation Fund is available to support the West Midlands’ healthcare challenges and aid the spread of innovative diagnostics, devices and services at scale and pace.”

To apply, please go to the Meridian online health innovation exchange by 2 February 2018 and click 'Submit innovation'. Alternatively, contact Lucy Chatwin, Business Manager at WMAHSN, on lucy.chatwin@wmahsn.org for help with your application and to discuss your requirements.