Biomedical Catalyst 2017 round 4: primer award
The Biomedical Catalyst is a unique partnership between Innovate UK and the Medical Research Council. It provides responsive and effective support to the most innovative life sciences opportunities, regardless of scientific approach. The Catalyst evolved from the 2011 Life Sciences Industrial Strategy. It aims to de-risk innovative scientific ideas coming out of academia and industry. In this way it helps UK SMEs to develop into competitive and sustainable organisations which:
- speeds up the progress of novel products to market
- supports onward investment
- bridges ‘the valley of death’, the stage of development of an innovation where it is difficult to get private sector funding
An independent evaluation in 2015 has confirmed that the Biomedical Catalyst is already achieving its goals of:
- providing support to both academically and commercially-led research and development in a seamless, effective and efficient way. (For example, at least 40% of supported companies have originated in UK academia and many others have in-licensed academic intellectual property)
- encouraging UK economic growth and leveraging investment into the healthcare and life sciences sectors. (For example, supported projects leveraged over £120 million of private funding against grant funding over the first 8 competition rounds)
- delivering innovative life sciences products and services more quickly and effectively into healthcare. (For example, the Biomedical Catalyst has supported more than 60 first-in-human studies)
In autumn 2016, the government allocated £100 million to continue funding the Catalyst for a further 4 years.
Innovate UK, the Medical Research Council and Scottish Enterprise fund Biomedical Catalyst awards.
If you want help to find a project partner, contact the Knowledge Transfer Network.