Innovate UK is offering grants of up to £50,000 to help HealthTech businesses in West Yorkshire develop innovative solutions.
The New Innovators in Health Technologies, West Yorkshire competition has a funding pot of £500,000, which can support up to 20 projects. The competition closes on 17 July 2024.
Wondering whether you’re eligible? GrantTree’s grants experts can give you a free, no-commitment assessment, explaining whether you qualify and how likely your project is to receive funding.
To book your eligibility assessment, just get in touch.
Who is Eligible for this Competition?
Here’s how the competition’s eligibility criteria apply to companies and projects.
Your Company
Your company must be a micro or small enterprise, meaning it must meet at least two of these three criteria:
- Have an annual turnover of £10.2 million or less
- A balance sheet value of £5.1 million or less
- An average employee headcount of 50 or fewer
Your company can’t apply for this competition if you’ve already won an Innovate UK grant or received funding from the Innovation Loans scheme.
You must use funding from this competition to grow your activities in the health technologies cluster in West Yorkshire, both during and after project deployment.
Your Project
Your project must focus on developing an innovation that addresses human health challenges, such as preventing disease or reducing health inequality.
It must also:
- Have total costs of £25,000 to £50,000
- Last three to six months
- Start between 1 November 2024 and 1 February 2025
- End by 30 April 2025
You must carry out all your project work in the UK. You must intend to exploit all of your project work from or inside the UK.
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How Do I Apply?
Think qualify for this competition? Great! The funding on offer could propel your innovative idea towards commercialisation.
Still not sure? Feel free to book an eligibility assessment with one of GrantTree’s experts.
Once you’re confident your company and project are eligible (and stand a good chance of winning!), it’s time to turn your attention to the application.
The application has four sections. They are:
- Project Details
- Application Questions
- Finances
- Project Impact
Project Details examines four areas, including how your project fits the competition’s scope and how want Innovate UK to describe it publicly. This section isn’t scored.
The Application Questions section contains 10 questions, covering key issues like what your idea is and how receiving a grant will impact your business. Only four of the questions in this section are scored.
Finances is where you enter your project costs, organisation details and funding details.
The Project Impact section isn’t scored but gives you the opportunity to provide your assessor with useful information on how your project will contribute to the UK economy, society, and the environment.
Maximise Your Chances of Success with GrantTree
If you’re currently preparing or thinking about preparing an application, GrantTree’s Collaborate and Strategic Review services can significantly improve your chances of success.
Grants Collaborate
- Work with a veteran grants writer with deep HealthTech experience to prepare a compelling, eye-catching application
- Set your company up for long-term success by equipping your team with transferable grant-writing skills
- Receive one round of detailed feedback from an active Innovate UK assessor, helping you take the final step towards success.
Strategic Grants Review
- Receive two rounds of detailed feedback from a current Innovate UK assessor with significant experience in HealthTech
- Work with the reviewer to understand their feedback and implement it to maximum effect
To learn more about GrantTree’s services and whether they’re right for your company, just get in touch.
