On Monday 22nd May Translate MedTech launched a “call for project definitions” in support of the Leeds City Region’s bid for the UK Strength in Places fund, and NRB Tech attended the launch event. The event was very productive and well attended, bringing together industry, academia and healthcare and demonstrating the wealth of expertise in medical technology in the region.

The Strength in Places Fund (SIPF) is led by UK Research and Innovation (UKRI) and is a fund aimed at generating economic development in the regions of the UK. Regions can bid for funding of between £10-50m for a number of projects to be conducted entirely within the region. Bids are not limited to medical technologies, but any sector that has the potential to generate economic growth. Leeds City Region was successful in it’s stage 1 expression of interest, and along with 2 other bids from the Yorkshire and Humber region will proceed to stage 2, submitting full grant proposals.

The global medical technology market is growing at 5.6% a year, expected to reach $595bn by 2024 (Evaluate MedTech)

The call for medical technology project definitions in the Leeds City Region closes on the 21st June, but following that if the bid is successful other projects may be included in the grant in the future. The projects must be industry matched, with small companies providing 30% contribution in kind or direct cash and large companies providing 50%. This represents a significant opportunity to further develop medical technology in the Leeds City Region, which already has a strong medical technology sector with good networks between industry, academia and healthcare. To apply or for more details, visit the Grow MedTech website.

If you are interested in building a medical technology device but are in need of an industry partner for building the device or Apps, please get in touch!