Companies are invited to bid for funding to develop solutions for specific health needs. Nominated AHSNs lead on running the calls and competitions. Bids are assessed by a panel of technical, business and clinical experts and the most promising ideas are selected for funding.
Phase 1 contracts for feasibility testing are valued at up to £100,000 and last for six months. If the feasibility testing in Phase 1 is successful, companies can bid for Phase 2 funding to continue product development and testing. All applicants are assessed by the same clinical, technical and business experts with the panel looking for game-changing technologies and commercial plans to make a real difference in the challenge areas defined at the start of the process.
Phase 2 contracts are worth up to £1 million over a period of 12 months. Throughout the process, SBRI Healthcare sources health economists to help with the business model and provides ‘light touch’ monitoring to ensure projects are on track to meet agreed milestones.
Phase 3 contracts are worth up to £500,000 over a period of 9 months, subject to budget. Phase 3 is intended to facilitate the implementation of mature innovations in the real world, and facilitate the collection of evidence to secure subsequent procurement and adoption.