Below is some information about possible funding and useful checklists things to propel you into the next stage.
These sources of support and funding are most relevant to your innovation from the answers given.
The Wellcome Trust a an independent global charitable foundation dedicated to improving health. Iyts funding ranges from basic scientific research, including social science, to supporting proof-of-concept research and development for new healthcare products. Its innovation funding stream aims to help bridge the gap between fundamental research and commercial application by funding applied research and development projects to a stage where they are attractive to a follow-on funder, such as venture capital firms, industry and public-private partnerships. There are a number of funding schemes, including Health Innovation Challenge Fund and Pathfinder Pilots.wellcome.ac.uk/index.htm
"SEHTA is one of the largest healthcare technology networking organisations in the UK with 1,300 members. It offers three services: Consultancy Plus, Care Review and Cluster Development & EU Networks. SEHTA covers a range of health technology fields, including assisted living, diagnostics, and medtech and smartcare and digital companies, and assists with all stages of product / service development, from ideation to long-term business planning, from customer needs analysis to useablity trialling, and from competitor and political landscaping to partner and supply chain selection."sehta.co.uk
Knowledge Transfer Network Ltd (KTN Ltd) is funded by Innovate UK and is an interdisciplinary UK-wide network of knowledge intensive businesses and academics designed to stimulate innovation by promoting collaboration, best practice and knowledge sharing.There are 15 individual Knowledge Transfer Networks, including a Health Tech & Medicines KTN. KTN Ltd organises sector specific missions to different countries to help connect researchers and innovators in the UK with overseas opportunities. It can help UK organisations access overseas funding schemes and it works closely with Innovate UK on major international funding programmes,such as Horizon 2020.Open the Knowledge Transfer Network
Nesta is an independent charity with a mission to help bring good ideas to life, Nesta is a leading innovation think tank, an investor in innovative ventures and an innovation lab testing out new approaches to supporting innovation. It has produced a useful innovation policy toolkit which describes the UK innovation ecosystem, available here: http://www.nesta.org.uk/innovation-policy-toolkithttp://www.nesta.org.uk/
DigitalHealth London is a collaboration between MedCity and London’s three Academic Health Science Networks (AHSNs): Imperial College Health Partners, UCL Partners and the Health Innovation Network. It is supported by the Mayor of London and the Academic Health Science Centres (AHSCs). It aims to help London pioneer the development, commercialisation and adoption of digital health innovation to improve health outcomes. It helps to create and support networks to bring together London’s existing critical mass of digital health expertise, identify digital solutions to meet the needs of patients and clinicians, and build an evidence base of the health outcomes and economic benefits of digital health. DigitalHealth London also helps businesses by tackling issues such as procurement and commissioning. A call will be going out in March 2019 for their fourth accelerator cohort. Successful companies will receive support from September 2019-August 2020.Digital Health London
Try to position yourself in the graphic below by asking yourself: What will organisations gain and what they will lose by buying your innovation.
The product provides some benefit compared to the status quo and adopters can adopt it without too much impact. A convincing argument for adoption is needed, backed by evidence of some potential improvement. Take-up will be influenced by circumstances and context.
While the product clearly needs to demonstrate its benefits, the route to market should be relatively straightforward, providing there are no safety risks or regulatory requirements.
You will need to provide convincing evidence, both in quality and quantity. You should also try to minimise the degree of ‘behaviour change’ needed by adopters and seek out ‘champions’ to take on the innovation, who perhaps need less evidence than the majority.
Based on John Gourville ‘Eager sellers and stony buyers’, Harvard Business Review, June, 2006 pp. 98-106
These questions will help you think about the likelihood of successfully bringing your project to the market. Please look at these categories and consider where your project sits on the sliding scale from 1 to 5 (1 = low)
The degree of novelty of the innovation – is it a revision or upgrade of an existing product, service or process, or is it a radical change? This is a measure of development and adoption risk.
How much would you say your innovation will be perceived as better than what is currently available?. This is a measure of adoption risk.
The source of the innovation from the organisational point of view; is it an organisation's internal innovation or an adaptation of an external innovation. This is a measure of development risk.
How urgent is your research and development project – are there any particular time pressures compared to what would be considered a reasonable or normal time frame?. This is a measure of development risk.
Will the those responsible for purchasing or using the innovation – the adopters – be familiar with the technology involved?. This is a measure of adoption risk.
How complex is the environment within which the innovation will be used? Think about the range of institutions or organisations involved or impacted by the innovation, and the healthcare processes and systems it needs to be integrated into. This is a measure of adoption risk.
How much discretion do those responsible for adopting and implementation the innovation have? Is the adoption decision largely made at an individual level (eg by a doctor) or does it require collective agreement at an organisational level?. A measure of adoption risk.
What is your overall assessment of the uncertainties and risks your project faces, taking into account the impact these can have on the organisation(s) involved. This is a measure of development and adoption risk.