The Medtech Accelerator is led by Health Enterprise East as a joint venture with the New Anglia and Greater Cambridge & Greater Peterborough Local Enterprise Partnerships and the Eastern Academic Health Science Networks. It supports and finances projects at an early stage in order to maximise the potential for success in bringing new, life-enhancing technologies to patients. Awards are aimed at supporting proof-of-concept work which might include IP protection, market analysis, prototype development and testing, clinical evaluation, regulatory support and pilot production.
The Awards Committee has 10 representatives from the academic, engineering and medical sectors. It is responsible for awarding grants of between £15,000 and £125,000 from a fund of £1.5 million to innovation projects that show the potential to create future spin-out companies, primarily out of NHS organisations.