Investor Partnerships – Health Technologies, West Yorkshire: Rd 2

Innovate UK, as part of UK Research and Innovation, will collaborate with the West Yorkshire Combined Authority to invest up to £3.9 million in innovation projects.

The projects will be led by ambitious UK-registered micro, small, or medium-sized businesses (SMEs) who will use the funding to grow their innovation activities in the health technology cluster in West Yorkshire, both during and after the project.

You must demonstrate that if your project is funded, it will:

• Have significant market impact
• Be scalable
• Be attractive to equity investors

Your project must help to grow your innovation activities in the health technology cluster in West Yorkshire, both during and after your project.

This can be demonstrated by:

• Your local innovation activities
• The value your innovation activities bring to the cluster
• Your engagement with other innovation-active organisations in the cluster, such as Health Innovation Yorkshire & Humber, the cluster management organisation for this Launchpad

Your project must focus on human health technology innovation. You can address any human health challenges, including but not limited to:

• Overcoming health inequalities
• Global net zero challenges in healthcare
• Major health conditions
• The prevention of disease
• Earlier and better detection and diagnosis of disease
• Other challenges that can be tackled with health technologies

You must be:

• Registered in the UK as an SME by the time the award is contracted
• Able to complete the aligned investment led by the investor partner needed to qualify for the award, through the issue of new shares or convertible debt

Eligibility Criteria

The eligibility criteria will depend on your research category.

For feasibility studies projects:

• Your total project costs must be between £50,000 and £300,000
• Your project duration must be between 6 and 12 months

For industrial research projects:

• Your total project costs must be between £100,000 and £1 million
• Your project duration must be between 6 and 12 months

For experimental development projects:

• Your total project costs must be between £250,000 and £2 million
• Your project duration must be between 12 and 18 months