London Institute for Healthcare Engineering aims to unlock UK MedTech potential
Medtech innovators are set to take residence in the London Institute Healthcare Engineering (LIHE) where a range of experts will assist in getting technologies through approvals and onto the market.
Starting in July, innovators participating in the 12-month MedTech Venture Builder programme at LIHE will be given guidance on how to navigate the complex path to clinical and commercial success by bringing together experts across academia, the NHS and the MedTech industry.
Situated next to St Thomas’ Hospital, the Institute has been built by Kings College London (KCL) to connect innovative medical technologies with business guidance and investment.
LIHE said that while the UK is a leader in the development of such technology and the third biggest contributor to Europe’s €160bn MedTech market, only a small number of innovations make it to the patients due to the challenges of scaling a business and regulatory complexities involved in commercialising a product.
LIHE hopes to unlock this process by giving companies access to KCL’s scientific, commercialisation, and regulatory and quality management services.
This includes the first Venture Builder, which has received £1.5m in funding from Research England's Connecting Capability Fund.
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