INSTILS life science project pledges £4.9 million to support new product development

Published: 1-Sep-2016

The two-year Inspiring Networking to Stimulate Technology Innovation in Life Sciences programme will run until September 2018

Medilink East Midlands, the UK region's life science industry association, with partners, has launched a project that will provide regional medical technology, pharmaceutical and bioscience organisations with funding and support to help develop new projects and products.

The INSTILS (Inspiring Networking to Stimulate Technology Innovation in Life Sciences) project is part-funded by the European Regional Development Fund (ERDF).

It follows Medilink’s Healthcare and Bioscience iNet project, which ran from 2008 to 2015 and supported more than 1000 companies. It was also part-funded by ERDF.

The £4.9 million INSTILS project will run until September 2018. Of this, almost £2.5 million comes from the ERDF funding allocation of the D2N2 Local Enterprise Partnership (LEP).

Partners in the project delivery consortium will invest an additional £2.5 million.

Through the project, Small and Medium-sized Enterprises (SMEs) in the D2N2 LEP region across Derbyshire and Nottinghamshire will be able to gain access to a raft of support.

This will include grants for innovation development, sector relevant events and support and advice from skilled individuals in the life sciences, business, NHS and university community.

Entrepreneurial support will also be available through BioCity’s DEVELOP accelerator programme.

Darren Clark, Chief Executive of Medilink East Midlands, said: 'INSTILS will allow Medilink and its partners to continue to work with SMEs and individuals throughout their innovation processes, connecting them to relevant expertise and assisting them in taking their products and services from concept to market.'

Other partners in the INSTILS project include BioCity Nottingham, The University of Nottingham, Nottingham University Hospitals NHS Trust, Derby Teaching Hospitals Foundation NHS Trust, Nottingham City Council and the East Midlands Academic Health Science Network.

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