Why you can’t let the post-Brexit funding landscape get in the way of your next great innovation

British innovation is in a precarious position right now.

While a recent report by Pfizer majored on the crucial nature of innovation for medical progress in the UK, it also highlighted an obvious problem facing new product development (NPD) in every sector…

On this page we talk about that problem, and show you what you can still do to secure funding for the NPD in your pipeline.

What was the Pfizer report?

Pfizer’s Breakthrough Nation report was released last month, breaking down the bold agenda they believe will be required if there’s to be any hope of delivering a resilient care system in the UK.  

There were some gems in there, and a clear strategy including recommendations that could see the NHS get back on track.

We really liked all the “big ideas” Pfizer set out that could help the NHS achieve its goals in the years to come, but there was one that stood out more than the rest:

“Number three. Ensure that no patient in need is left behind, no matter how rare their condition.”

Because the truth is, that’s not really happening right now, is it?

We’ve all seen the reports about the waits for beds.

The queues in A&E.

The ambulance strikes.

There’s clearly not enough money to deliver the NHS as it should be right now – which begs the question, what else can be done?

Pfizer say that we “stand at the cusp of a new wave of innovation which heralds great promise for patients”.

“As science advances, so must the way in which we enable new technologies to reach the hands of patients. This must be done whilst contending with rising healthcare costs and the challenges of pandemic recovery.”

Innovation promises so much more to help the NHS

So what can society really do to lower the number of people in hospitals and finally take the pressure of the NHS in real terms? How can we improve research and kickstart an upsurge in at-home care?

We firmly agree that the answer lies in innovation.

Like at-home dialysis machines that free up beds and give patients a far more comfortable experience…

Like touch-free corneal treatment lasers that can treat infection in 15 seconds…

Like portable devices that speed up laboratory testing by 10,000 times and can be used wherever, whenever…

Creating new commercially viable, user-friendly, life-saving products that slash time and resources for the health service is the obvious answer – but how do you fund it?

How can you get the funding to do more medical innovation?

Most medical innovators know that Brexit put paid to the European Innovation Fund and it’s no longer a simple process to partner companies across the continent for innovation.

That pot we used to have access to? It’s nearly run dry for British businesses and there’s still no news on what’s next in terms of innovation post-Brexit, let alone any advice on what we’re supposed to do without the brain power of innovators in other countries.

A big shift in innovation is a long time coming… But rather than wait to find out what the Government will do to help the UK improve (and potentially find solutions to help the NHS), there IS still funding available for you to grab by the horns.

Innovation budgets across the UK are still there to be used until the next financial year – which means the New Year 2023 is the perfect opportunity for British product developers to grab any last funding left on the table.

The funding landscape will soon be changing in the UK, but while there’s still money available, now’s the time to get your bid applications in to try and secure your last piece of the pot and receive support to innovate.  

This last week alone we’ve seen messaging from three different providers inviting innovators to apply for grants and funds that are very much still available.

…So when’s the last time you checked the UK Research and Innovation Funding Finder to see what’s available to your business right now?

Click HERE to take a look at the UKRI Funding Finder

And if you need any help strategizing a plan that allows you to develop products that:

1 – Truly help and delight your users (patients AND care teams)

2 – Are truly innovative and commercially viable

3 – Serve to improve the planet (and the NHS!)

…Then we’d love to help you do it.

At Smallfry, we’re known for redefining innovation culture. We provide profound customer insight and a strategic design process that consistently innovates 5-star rated products which smash sales targets all over the world.

We’ve done lots of ground-breaking work in the medical field and would love to talk to you if you’ve got ideas or funding to play with, email Kelly for more info Design@Smallfry.com