Northern Ireland's precision medicine sector has been chosen to receive Pound 7.5 million Launchpad funding.
The Launchpad programme is funded by Innovate UK, part of UK Research and Innovation (UKRI). It is designed to build on innovation clusters around the UK that have significant growth potential and to deliver jobs, growth, and higher productivity, supporting the Government's levelling-up agenda.
This Launchpad will provide welcome innovation funding, support, and networking opportunities to help Small and Medium Enterprises (SMEs) in Northern Ireland's growing life and health science sector to innovate, grow and scale their businesses in projects focused on precision medicine.
Kerry Curran, Director of GB & EU Trade in the Department for the Economy said:
"The Department is delighted with the announcement of Innovate UK Launchpad funding for Northern Ireland's trial blazing precision medicine sector.
"Life and Health Science, including our highly innovative precision medicine cluster, is an area the Department is also prioritising through its 10X Economy Vision, and this Launchpad represents a further endorsement of the world-leading growth potential of precision medicine, and indeed life and health science, in Northern Ireland. The Department looks forward to working with partners across the life and health science ecosystem to maximise the benefits and harness the growth potential of this opportunity."
Under the programme, Northern Ireland based SMEs can apply for competitive grant funding, starting from Pound 15,000, with up to Pound 1 million for projects that provide exceptional impact to the region. Businesses must be active or growing their work activities in the areas of precision medicine including diagnostics, med-tech, digital or therapeutics, centred in Northern Ireland.
The competition opens on 30th October, and SMEs are invited to sign up for a competition briefing event on 10th November in the Northwest and an Innovate-UK KTN event on 23rd November in Lisburn. More information can be found at Events - Innovate UK KTN (ktn-uk.org).