Seeking innovative healthcare ideas in the UK
Cornwall Enterprise, a UK-based economic development company, has launched a national competition to find the most innovative and exciting healthcare ideas in the UK.
Cornwall Enterprise, a UK-based economic development company, has launched a national competition to find the most innovative and exciting healthcare ideas in the UK.
Pure Innovation will be run by Cornwall Pure Business, Cornwall Enterprise's inward investment service.
The competition aims to encourage innovative ideas and concepts from individuals, or companies that are under one year old, which will make a positive impact on health. Up to three winners - an overall winner and two runners-up - will receive a comprehensive business support package that will enable the winning ideas to be moved toward commercial implementation. Business incubation facilities at Cornwall's Knowledge Spa in Truro, based at the new £14m complex at the Royal Cornwall Hospitals Trust site, are also included for the winners.
'Entries can range from technology-led innovation, such as a new design of pacemaker or an improved redesign of an existing product, such as a walking stick, or research-led projects designed to expose new knowledge to the healthcare community,' said Danielle Atkins, inward investment manager, Cornwall Pure Business. 'All ideas need to create a valuable contribution to the understanding, treatment or prevention of key health issues in today's world.'
All competition applicants are invited to attend a Master Class to be held on 11 September at the Royal Cornwall Hospital, Truro, featuring key business advisor and mentor presentations to assist participants on business start-up issues. Topics available include Marketing To The Healthcare Market and the NHS; General Marketing Principles; Financial Packaging; Intellectual Property; and Company and Corporate Law.
From the entry submissions, the judges will short-list six proposals, with each applicant then invited to prepare a 15-minute presentation on their business idea. This will be followed by an applicant question and answer session with the judges to decide on an overall winner and two runners-up. The judging panel comprises experienced professionals from the private, public and healthcare sectors, representing a wealth of knowledge on all aspects of the healthcare industries.
The judges will be looking for originality of ideas and products, based on sound market research and understanding and potential for Intellectual Property (if appropriate). Applicants should also demonstrate aspirations for future growth and development, including job creation, and identify specific needs for future development.
Entries can be submitted now at www.cornwallpurebusiness.co.uk/pureinnovation, with a closing date of 26 August. A shortlist of submissions will be available in September, with final presentations and judging scheduled for 25 September. All entries must include a completed entry proforma available from the website, where full terms and conditions of the competition are also available. Only electronic submitted entries will be accepted.