One SME will win a �35,000 funded programme with the MTC

£35,000 prize for healthcare SMEs launched by IET and MTC

The IET and the Manufacturing Technology Centre (MTC) are offering one SME the opportunity to join its state of the art manufacturing centre in Coventry and work alongside the MTC to develop and adapt an existing technology (owned by the SME) for commercialisation in the healthcare sector.

As the UK healthcare sector is an area that can greatly benefit from technology development in other sectors, the MTC has launched a Horizontal Innovation programme which will fund and support a UK technology business in solving some of the current NHS challenges.

Once accepted on the programme, the winning SME will gain access to the MTC’s flexible factory capabilities and use some of the most advanced manufacturing equipment in the world, as well as receiving support in business planning, product design, IP protection and engineering expertise.

Smaller businesses often come across barriers and challenges at the product development stage: lack of funds, expertise, business processes and technologies. This programme will allow your business to gain access to highly skilled engineers and some of the most advanced manufacturing equipment in the world enabling you to develop and demonstrate a technology solution on an industrial scale.

Furthermore, the successful applicant will become part of the IET’s high profile Horizontal Innovation initiative which could lead to new business opportunities.

Naomi Climer, IET President, said: “The UK is renowned across the world for creativity and innovation, but we aren’t always so good at commercialising our innovations. This is particularly difficult for SMEs who face barriers and challenges at the product development stage including funding, expertise, business processes and technologies.

"Through this programme we are offering one lucky SME the opportunity to gain access to highly skilled engineers and some of the world’s most advanced manufacturing equipment, enabling them to develop and commercialise a technology solution on an industrial scale.”

Jeremy Hadall, MTC Chief Technologist for Digital Engineering, said: “Delivering Horizontal Innovation across sectors is very much a key part of MTC’s remit. So we are proud to be partnering with the IET and its cross-sectorial members to launch this programme.

"The successful applicant will not only have access to the MTC’s highly skilled engineers, advanced manufacturing equipment and business expertise but will in the process be delivering a major step forward in the treatment of patients within the healthcare system which will be of benefit to society as a whole.”

Your company and product will be promoted by the IET to thousands of engineers, companies and academic institutions worldwide. You could also enjoy new networking opportunities with colleagues and prospective business partners across multiple sectors within industry, academia and government who are looking to engage in technology transfer opportunities within industry.

The programme will be 100 per cent funded by the Manufacturing Technology Centre (MTC) up to the value of £35,000 (T&Cs apply) and will run from 17 October 2016 to 1 March 2017.

For more information on the criteria and how to apply, please visit the Horizontal Innovation web page. Applications are open from 22 August 2016 and close on 30 September 2016 00:00 GMT.

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