Organisations came together to join Medilink Midlands in celebrating the success delivered under the three ERDF funded programmes, INSTILS, SoLSTICE and ACTIS and to find out what is next for the region.
Interim Chief Executive, Melanie Davidson, advised that a total of £3.5m in grants was achieved. This funding was able to leverage investment equating to £47 of private investment for every £1 of public funding, an outstanding accomplishment. Alongside the funding distributed, Medilink Midlands’ Advisers delivered over 8000 hours of innovation support to regional life sciences organisations.
The business support projects have had a significant impact on the economic growth of the life sciences sector, delivering funding, support, advice, and networking opportunities to companies during the eight years the projects have been in operation.
As Melanie Davidson explained: “The funding has been instrumental in the creation of over 208 high level jobs and we’ve been able to support 391 businesses on a one-to-one basis, with a total of 66 new enterprises created.” Independent assessments of the projects also demonstrated an impressive 100 percent satisfaction rate from organisations who received support.
The projects also involved collaboration with 79 universities and the delivery of 180 events.
Success stories from East Midlands businesses that have benefited from the funding include BlueSkeye AI, a company that has developed facial recognition AI to be able to detect depression; Neurotherapeutics, creators of a stimulation and monitoring device aimed at alleviating the symptoms of Tourette’s; Blum Health, which offers bespoke specialist recruitment solutions throughout the healthcare system, and JT Rehab Limited, inventors of the S-Press, which allows patients the ability to continue with their physiotherapy at home.
Paul Cable, CEO of Neurotherapeutics (Neupulse) Limited, creators of a medical device aimed at helping sufferers of Tourettes manage their tics, comments on the company’s progress: “We carried out a clinical trial that started in March 2022 and completed in March 2023 and the results of that trial have been absolutely phenomenal.” He adds, “short term, our goal is to get this device out there. There are so many people who want this device. It will really make a big difference to their lives.”
Other East Midlands-based funding recipients included iethico, a business that has created a technological solution to the supply and distribution of medicine shortages; MumPod, which provides innovative, safe and convenient spaces to employers and service providers supporting pregnant and breastfeeding parents; Spirit Health, which works with the NHS to deliver a new way of delivering healthcare to those in the community, and VUIT, a company providing data analytics to healthcare providers to allow better understanding and more targeted practice of health in the community.
Melanie added: “With the established skills, knowledge, expertise, networking and connections in place, Medilink Midlands will continue to deliver sector support whilst representing the Voice of the Industry for Medtech and life science organisations, and although the ERDF funding has now concluded, we are delighted to be able to announce the launch of MeTAP, a new business support programme for businesses based in the East Midlands.”
MeTAP aims to assist start-ups with targeted support streams, including the Innovation Accelerator Programme. Working in partnership with the University of Nottingham, MeTAP aims to support companies to accelerate innovation and provide the right skills and tools to enable companies to increase their competitive advantage.
For more information, visit: https://www.medilinkmidlands.com/