Our Proof of Concept Programme (PoCP) helps commercialise scientific knowledge that leads to the establishment of new high-growth businesses in Scotland.

We are particularly interested in supporting innovation that has the potential to underpin the generation of high growth businesses (defined for this purpose as the achievement of at least £5 million turnover within 5 years of trading or the attraction of at least £10 million commercial investment within the same period, and which can continue growth thereafter). We will also consider the development of innovation that would enable the growth of an existing Scottish-based business over the same period and by similar measures.

Our life sciences team has identified the following medtech subsectors as offering the most attractive opportunities (by global market size and growth rates). As our focus is on economic growth within Scotland, proposals should align closely with our sector’s strengths. We are therefore looking for innovation that is aligned with products and services in these areas, although compelling technologies in other areas will be considered if there is a good Scottish fit.

Top subsectors of interest include:

• Non-Imaging (In Vitro) Diagnostics
• Imaging Tools and Technologies
• Cardiovascular therapies
• Orthopaedics and Spine
• Dental technologies
• Urology and renal
• Wound care
• Surgical instruments
• Ophthalmic surgery
• Informatics

To find out more about this research, contact the PoCP team and state that you would like information on the local medtech sector.

Medtech product development is a particularly challenging arena and many products fail not because of technical problems but because they either do not meet the needs of end users or cannot realistically clear the regulatory hurdles. To ensure the best chance of success, applications will be reviewed by a panel of experts that will enable us to evaluate the clinical, commercial and regulatory challenges posed by the proposed idea. We encourage you to consider these challenges early before you contact us to better facilitate this process.

The programme provides a combination of funding and specialist support to develop not only the technical idea, but also the commercially minded individual(s) who can take the idea into the global marketplace in the form of sustainable technology businesses in Scotland. Like you, we want your proposal to be successful.

Subject to good progress against agreed milestones, we will commit to working with you to help you develop your understanding of the market and how your technology could enter that space and will provide the advice and support required not only during technical development, but also beyond technical completion into the establishment and first fundraising for your business.

Next steps

For this particular theme expressions of interest are sought by 31 January 2012, with full applications being required by 31 March 2012. Before submitting a formal application it is essential that you have discussed your idea with your university or research centre’s commercialisation department as their endorsement will be required prior to formal assessment taking place.

If you have a project in mind, submit an expression of interest form and we’ll arrange to meet with you to talk through your idea prior to you submitting a full application.