The UK medical device market can benefit significantly from over £200 million funds of grants that are available to UK businesses, the independent research organisation TBAT Innovation Ltd stresses in a press release. The grants include the Biomedical Catalyst funding, which since April offers support to UK small and medium-sized enterprises (SME’s) and academics developing solutions to healthcare challenges. The grants are supported by the Medical Research Council and the Technology Strategy Board (TSB). In addition, the annual SMART programme, available from the TSB, provides £30 million of grants to SMEs in the areas of science, technology or engineering.
“The combined grant funds this year, which can be applied for throughout 2012, makes it a very significant time for investment in this sector, but people need to remember the process is a competition and therefore it’s important to get it right,” says Matt Symonds, Director of TBAT.
TBAT, an independently run company, offers its clients help applying for funding sources. In the past 12 months, the company has leveraged over £6 million worth of grants to its client. The company also offers other services such as market and technology research, business strategy and evaluation and project management.Camilla Andersson