We support life sciences sector businesses working in:
- medical technology
- regenerative medicine
If your business works in these areas, we might be able to help you with:
- advice on international trade
- innovation support
- finding new business premises
- advice on improving workforce skills
- tendering for public sector contracts
- introducing faster broadband to your business
You might also be eligible for our business finance, subject to availability
Wales Life Sciences Bridging Fund
Accelerating the path towards commercialisation
The Life Sciences Bridging Fund is a 3 year pilot programme of support funded by the Welsh Government and aimed at accelerating Life Sciences technologies on the path to commercialisation.
The aim of the Bridging Fund is to:
- maximise the economic impact of academic projects
- develop an entrepreneurial culture within academia
- support the licensing of new technology to encourage the creation of spin-out businesses
- promote a high value-added economy
It is well-recognised that university research has an increasingly vital role in improving patient care through the development of new therapeutics and medical devices. Such technologies are notoriously expensive to develop with many companies and commercial funders unwilling to invest at an early stage of development. This lack of funding to support the translational research required to demonstrate the commercial potential of academic research is a major hurdle to realising the full economic and health benefits.
The Life Sciences Bridging Fund aims to address these problems and provides a source of funding to enable academics at Welsh universities to further develop the full potential of their research.
Proposals are invited from any academic discipline as long as the project has direct relevance to the Life Sciences sector. Applicants should clearly demonstrate that their proposal builds on a body of existing research excellence and has significant commercial potential. Applications must be led by a Welsh university and can include collaborations with other universities and/or businesses.
The Fund supports projects across a wide range of areas including, but not limited to:
- drug discovery and development
- medical devices
Applications will be considered by the Scientific Advisory Board which comprises of Life Sciences industry experts. The Bridging Fund offers funding in the form of a Pathfinder scheme and a Follow-on Fund scheme.
Pathfinder aims to support the initial stages of the commercialisation process and should be used to establish the technical and commercial potential of a discrete project. Pathfinder is open to any academic working within a Welsh University. Applicants can apply for up to £75k with the majority of projects expected to be less than 12 months in duration. Calls for Pathfinder applications are currently open and reviewed quarterly.
A Follow-on Fund of up to £300k per project will shortly be launched. This scheme is aimed at a small number of exceptional projects which can demonstrate they have already made significant progress along the commercialisation path. For further details, please contact the Project Manager, Dr Corinne Nguyen, on 07584 995669 or via LifeSciences@wales.gsi.gov.uk
Please note that midday on 2 November 2016 will be the last deadline for the current Bridging Fund pilot programme. Only those projects that can be completed and fully claimed by March 2018 will be eligible.
Applicants are required to work closely with the relevant Technology Transfer Office who will also be expected to provide on-going support. Applicants will be required to identify clear technical milestones as well as demonstrating an understanding of the commercial potential of the project.
For further information on the Life Sciences Bridging Fund please contact the Project Manager, Dr Corinne Nguyen on 07584 995669 or via LifeSciences@Wales.gsi.gov.uk