ABHI applauds new fund to boost UK innovation

Published: 11/08

LONDON, UK - (HealthTech Wire) - ABHI Director General John Wilkinson has welcomed the announcement today by the Secretary of State for Innovation, Universities and Skills, John Denham MP, that the government have set up a £100 million fund to boost research and innovation.

Mr Wilkinson said, “It is very encouraging to see the government not only recognising the importance of innovation to the UK economy and people’s lives, but actually taking steps to enable new innovative products to get to market. In the medical technology sector intermediate funding is notoriously difficult to obtain without first gaining market access, forcing small companies abroad to develop. This trend is depriving the UK economy of the innovative people and products that it needs to compete in the global marketplace.”

John Denham made the announcement at Innovate 07, a conference organised by the Technology Strategy Board. Bidders from eight priority areas will compete for the funding, with health technologies and new cell therapies both prioritised for investment.