INSIGHTS / News

Image: Open Bionic’s bionic Jensen hand in collaboration with Deus Ex

Healthcare innovators have the power to improve and save lives by developing products such as prosthetic limbs and wearables for conditions such as respiratory attacks and hip fractures.

Taking these innovations to the next level by securing funding is a fundamental requirement for success. This is the aim of Wessex Academic Health Science Network (AHSN) and SETsquared, who have joined forces along with the AHSNs from across the south coast, to help entrepreneurs change lives for the better by putting on a showcase event.

The merging of the pioneering medical and tech industries has created a wealth of opportunities, which is something the inaugural Med Tech Investment Showcase in London will explore next month.

16 entrepreneurs will be given the platform to realise their ambitions by exhibiting and pitching for significant investment to develop their innovative ideas and push them out to a wider market.

The ingenuity of these innovators means there is now a range of products and designs that will positively impact on an individual’s quality of life – and in some cases could even save them.

Some of the businesses attending include:

• Open Bionics – which turns children with limb differences into bionic superheroes
• Fourth State Medicine – which has created a wrinkle-busting plasma pen which can also be used to treat ulcers, burns, bed sores and military wounds
• Jupiter Diagnostics – which has developed a method for faster and cheaper blood testing, using a low-cost handheld reader and delivering results in ten minutes
• Propagator Ltd – which is developing a suite of digital products to improve the lives of the 15m patients in the UK with long-term conditions and save costs for healthcare providers

Businesses will pitch to 100 angel, venture capitalist and corporate investors at the showcase led by Wessex AHSN, with global leading university incubator SETsquared. Nicola Blackwood MP, Parliamentary Under Secretary of State for Health Services will be attending the event.

Simon Bond, innovation director at SETsquared, said: “The advancements made in medical technology in recent times and the impact this has on saving and improving lives has been incredible.

“There are so many worthy inventions that can help people but developing a product and getting it out to a wider market is not easy, which is why the Med Tech event will be so useful to businesses ranging from early stage start-ups to mature organisations.

“This showcase event will provide the best of the south’s health and life science businesses with the opportunity to pitch to specialist technology investors who regularly invest from £50,000 to £5m. There will also be the opportunity to speak the investors, who will provide much needed feedback.”

Investors will be specifically looking for products and services that can save the NHS money while also offering a broad commercial appeal – with excellent prospects to make a financial return.

The showcase will also be supported by AHSNs from the West of England, Kent, Surrey, Sussex and the South West.

Frank Ratcliff, senior project manager – wealth and enterprise at Wessex AHSN, said: “This showcase will see some amazing innovative businesses come together which can make a massive difference to people’s lives, and save the NHS money.

“This will give innovators the platform to take their idea to the next level by offering them the chance to pitch to a range of investors, including commercial technology experts, large technology corporates and senior government officials.”

The event will take place on 2 March at Wellcome Collection, 183 Euston Road, London NW1 2BE.