North Lincolnshire firms urged to bid for share of £8m Government fund aimed at encouraging innovation
An £8 million Government fund aims to encourage innovation to improve health by using digital solutions (Image: Olivier Le Moal/Getty Images)
By Scunthorpe Telegraph | Posted: 2 Feb 2018
Businesses in North Lincolnshire have been urged to bid for a share of a new fund which will encourage innovation and aim to improve health through digital technology.
A total of £8 million is being made available through the Government's Industrial Strategy Challenge Fund and North Lincolnshire Council bosses are encouraging firms in the region to pursue cash from it.
The money is expected to contribute to projects across a range of technologies which could help patients with their treatments, improve clinical decision making and improve disease prevention, diagnosis, treatment and long-term care.
Projects to benefit could include those using technology such as virtual and augmented reality, artificial intelligence and machine learning, informatics, data analysis and process and use of sensors and networks.
Funding available for each project is expected to be between £300,000 and £1 million, with schemes lasting up to 30 months, and businesses could attract up to 70 per cent of their costs.
Council leader Rob Waltham said: "I welcome this initiative by the Government. This funding is about driving, and being part of, the innovation agenda.
"We want businesses in North Lincolnshire to consider the opportunities this fund opens to them and we really want to see our employment grow particularly in these higher wage sectors.
North Lincolnshire Council leader Rob Waltham
"The money is being made available through the Government’s Industrial Strategy Challenge Fund. Projects must be led by a small or medium enterprise (SME), working with at least one partner.
"This initiative presents a great opportunity for businesses to look at ways they can improve their existing processes by using digital solutions.
"This will not only save time and money, it will ultimately improve outcomes for patients."
Applications for a share of the funding will open on Thursday, February 15 and will close at noon on Wednesday, April 18.