Companies developing new medical advances have received funding from a £4.9million life sciences programme, part-funded by the D2N2 Local Enterprise Partnership.
The Inspiring Networking to Stimulate Technological Innovation in Life Sciences (or INSTILS) project was set-up to provide small and medium-sized life sciences firms in the D2N2 LEP area (Derby, Derbyshire, Nottingham and Nottinghamshire) with support and advice; to innovate and create new products. Help includes grants for developing new innovations, holding life science events, and receiving advice from sector specialists. (PICTURED is work at Chalice Medical of Worksop).
INSTILS is being part-funded with £2.49m via European Regional Development Fund (ERDF) money allocated to D2N2, part of its wider £250m in European Structural and Investment Funds. The INSTILS project is led by Medilink East Midlands (an organisation supporting the region’s life sciences businesses); in partnership with the University of Nottingham, Nottingham University Hospitals NHS Trust, BioCity Group, Derby Teaching Hospitals NHS Foundation Trust, the East Midlands Academic Health Science Network and Nottingham City Council.
Four grant awards have been made to businesses as part of the INSTILS project, providing up to half of the funding for their trials of new medical technologies; to enable researchers to demonstrate products are effective and value for money. The funded companies are:
- NuVision Biotherapies Ltd
- Snowden Healthcare Ltd
- ViVO Smart Medical Devices Ltd
- Sanandco Ltd.
Dr Darren Clark, Chief Executive of Medilink East Midlands, said: “The Medilink East Midlands INSTILS project follows on from the ERDF-funded healthcare and bioscience iNet, which ran from 2008-2015 and supported more than 1,000 companies. The MedTech Trials Programme is a valuable addition to the support we currently provide, and we look forward to continuing to assist life sciences companies across Derbyshire and Nottinghamshire.”
D2N2 is the private-sector led Partnership of business, local authorities, further and higher education providers, and community and voluntary organisations which promotes jobs creation and economic growth across its area.
One of D2N2’s eight key sectors – ones in which the LEP’s area already has or could develop a competitive advantage – is the life sciences sector.
The INSTILS project is receiving funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit: www.gov.uk/european-growth-funding
Further information about the INSTILS project can be found at web link www.medilinkem.com/projects/instils-derby-notts/
For more on the work of by Medilink East Midlands see its website at www.medilinkem.com
Media wanting further information about the D2N2 LEP can contact D2N2 Communications Manager Sean Kirby on 0115 957 8749 or email: sean.kirby@d2n2lep.org
