Up to 300 healthcare SMEs benefit from £6.5m investment
Almost 300 North West healthcare SMEs will benefit from £6.5m investment secured by the Innovation Agency and its partners.
The Innovation Agency has sealed £3.5m European Regional Development Funding (ERDF) funding which has been matched by £3m from partner organisations in the region, to support SMEs creating innovative healthcare products for the NHS.
The Innovation Agency is the Academic Health Science Network for the North West Coast, acting as a catalyst for health care innovation and economic growth.
Innovation Agency chief executive Dr Liz Mear said: “The three-year programme is generating jobs through the expansion of small and medium size businesses; and we have also increased our commercial team to support the programme.
“Ultimately this investment will benefit the North West’s population through improved healthcare, additional employment and a healthier local economy.”
Backing healthcare SMEs alongside partner organisations, the Innovation Agency will work with Lancaster University to support 103 healthcare businesses in Lancashire alongside Liverpool Clinical Commissioning Group and five other partners to support 80 healthcare businesses in the Liverpool City Region.
It has also partnered with the Greater Manchester Academic Health Science Network, which covers East Cheshire, to work with 99 healthcare businesses in Cheshire and Warrington.
Leading the project, Lorna Green, commercial director, Innovation Agency, said: “In the past four years, the Innovation Agency has supported more than 100 businesses providing 94 new products and services into the healthcare market.
“We have supported a range of SMEs with innovations which include 100 per cent latex-free surgical gloves which protect against potentially fatal latex allergies; and portable devices to test for atrial fibrillation, with the potential to prevent more than 600 strokes a year in our region.”
One North West business currently being helped by the Innovation Agency to develop collaborations with the NHS, is Cadscan.
The Chester based company has developed Imprints, a low-cost, on-demand system to manufacture effective insoles to reduce the risk of people with diabetes developing foot ulcers.
The system consists of a 3D foot scanner, 3D insole printer and software that can automatically design and manufacture a bespoke insole on-demand, taking only one hour to produce.
