News story

Funding available for 'risky' medical projects

Welsh companies with 'risky' medical projects can apply for funding to research and develop them further.

Welsh companies with ‘risky’ medical projects can apply for funding to research and develop them further.

Risky business projects may be difficult for companies to take forward and develop. Innovate UK is looking to support these projects, where the majority of the activities take place in and around the South Wales medical technology cluster.

Up to £1 million of funding is on offer through our new Launchpad competition, along with a programme of business support. Help will also be given to applicants who have sourced external finances to help fund and commercialise the project.

Encouraging investment, networking and collaboration

Medical technology is one of Wales’ major industrial strengths. There are around 300 life science businesses in the country, including rapidly growing small businesses. Many of these are in South Wales.

The aim of the Launchpad is to help companies clustered there to achieve commercial success more quickly. It looks to attract investment and people into South Wales and encourage networking and collaboration.

The competition opens for applicants on 27 October 2014. The deadline for stage 1 video submissions/applications is midday on 10 December 2014. There will also be a briefing event in Cardiff on 15 October 2014.

Launchpad competition details

Download the competition brief