Investment accelerator: innovation in precision medicine
This is an investment accelerator competition providing simultaneous grant funding and private investment for early stage projects led by UK companies.
Up to £6 million of grant funding and a comparable amount of private equity investment is available to support business-led innovation in precision medicine technologies. Proposals must offer a disruptive change to the way that we accurately diagnose, monitor and treat disease.
The competition is open to single SMEs who are looking for grant funding and who want to establish an equity relationship with a UK venture capital firm.
Innovate UK are particularly encouraging new deal flow from the investor partners. SMEs who already have investment from one or more of the investors are also eligible. Preference may be given to first time investments in the event of a large number of high quality applications.
Projects’ total costs can be between £500,000 and £1.5 million with up to 50% funded by Innovate UK. 100% of project costs will be provided, split between Innovate UK and the investor partner. Projects must start by 1 May 2019 and last up to 24 months.
Competition Briefing Event, 31st July 2018
The Knowledge Transfer Network (KTN), on behalf of Innovate UK, is hosting a briefing event to present this competition to the SME community. The event will be held on 31st May 2018 (13:00-1700) at the Hallam Centre, London and will also be streamed live on the new KTN YouTube Channel.
The competition briefing will provide potential applicants with the opportunity to learn more about the scope of the competition and the application process. The 13 private investors that have been selected to co-fund this competition will attend the event and delegates from the industries will be given the opportunity to network with them as well as with the other attendees.
Further information on this competition is available on the Innovate UK competition page.