Pictured above: Chris Dyke
Two hundred and forty companies from across the West Midlands
have been awarded a share of a £5.8 million Concept Grant
Fund set up to promote and support economic growth through
innovation, in the West Midlands.
The Advantage Proof of Concept Grant Fund (APOC) was launched in
2008 by the University of Warwick with funding from Advantage West
Midlands and ERDF.
Its judging panel included Chris Ramsden and Chris Dyke of Life
Science organisation MedilinkWM, based on their extensive
experience in and knowledge of medical and healthcare technology,
design and engineering, considered a priority sector for the Fund.
This knowledge proved vital in assessing the development and
economic potential of the new products and processes put forward
for funding support, not least as they were able to identify
products and ideas already seen before.
During the 12-month application period, the panel examined over
280 applications to the Fund, around a third of which were
medically-related at either a primary or secondary level.
A total of 58 (24 percent) West Midlands based companies from
the medical devices and healthcare specialist sectors were
successful in their application to the Fund, and received Grants of
up to £30,000 to support third party costs faced by them in
developing their new products and processes to take them from
concept to market.
Kenilworth-based The Lean Company (UK) Limited was one of the
businesses successful in its application to APOC. The company
specialises in developing innovative solutions to problems and
challenges identified within a wide variety of
organisations.
Its Operations Director David Bradley explains: "We applied to
the APOC Fund for a grant to enable us to investigate the tracking
and tracing of surgical instruments around hospitals. We are
delighted to have secured a £15,000 grant, which has enabled
us to begin work with NHS Trusts and sterilisation specialists in
the West Midlands to develop and improve techniques and processes,
which stand to save the NHS a great deal of money.
"We have had a long association with MedilinkWM and have
experienced real benefits from working with them, and the concept
for which we secured the APOC grant is no exception. MedilinkWM has
facilitated contacts with Warwick, Aston and Wolverhampton
Universities, and through its expertise and exceptional contacts
with clinicians and academia, has made vital introductions for us
to like-minded people and organisations. The association with
MedilinkWM also adds credibility to our concept and
organisation.
"I am thrilled to have achieved the APOC grant. It actually gave
us the confidence to invest the balance of the funding to prove the
concept was viable. The grant was also a real vote of confidence
for the whole team and we are now well underway to moving forward
this innovative project for the benefit of everyone."
MedlinkWM's Connectivity Director Chris Dyke believes the APOC
Fund was one of the best of its type, commenting: "The Advantage
Proof of Concept Fund is one of the most successful fund panels I
have ever been involved in. Not only is it aimed primarily at SMEs,
the process for applications and their review was simple, and the
decision for funding was made rapidly, especially when compared to
other funds, which can take years to reach a decision, with
applicants receiving the response in approximately ten days."
David Bradley adds: "It is a real shame the funding has been
shifted from supporting the conceptual idea to inviting
applications for the later stage of proof of market, as other
people, companies and ideas won't have the same chance as we have
had."
MedilinkWM influences and guides public sector initiatives at
regional and national level for the benefit of companies, and
drives research and development by identifying potential markets
for growth and new product commercialisation in the Life Science
market.
For more information about MedilinkWM, please visit their
website here: www.MedilinkWM.co.uk