Fund will support SMEs to create apps and content development innovations
The NHS Innovation Healthcare Expo 2013, held in London last week, saw the launch of a £250,000 investment fund to support app and content development innovations aimed at the healthcare market.
The initiative is the result of a collaboration between the NHS Commissioning Board, Creative Skills for Life (CSL), and Creative England, with the money coming from the Government’s Regional Growth Fund.
It is part of a commitment to opening up practical opportunities for creative businesses to work with clusters across other sectors.
From next month, Creative England will invite applications from SMEs for the fund, which will encourage the creation of health and wellbeing-related apps aimed at NHS patients.
This scheme is a fantastic opportunity for SMEs to help health providers in creating a sustainable business model and I would encourage the SME community to get involved
The NHS Commissioning Board will assist with outlining the key priority areas such as those enabling the outcomes framework and planning guidance, and together with the CSL and senior representatives from leading NHS trusts, will provide input into the assessment of the applications.
It is anticipated that the competition, managed by Creative England, will result in the support of five new healthcare apps part funded 50% with each SME. The investment will take the form of revenue sharing agreements between the SME and Creative England.
Creative England’s core mission is to unlock potential for small businesses in the creative industries, and to help them take advantage of the massive opportunities presented by the digital revolution. As the SME will own all the IP relating to the product, the company will have valuable competitive advantages that can improve its ability to grow and generate revenue.
Creative England’s director of business development, Jim Farmery, said: "Creative England is always looking to link creative businesses into new market opportunities and this partnership with the NHS National Commissioning Board and Creative Skills for Life will provide a great stepping stone for the companies selected.”
Alex Abbott, chief technology officer at the NHS Commissioning Board, added: “This scheme is a fantastic opportunity for SMEs to help health providers in creating a sustainable business model and I would encourage the SME community to get involved.”