Help offered for medtech SMEs to enter multi-million-euro innovation competition12 November 2014 Product development contractor Pera Technology is searching for 10 small and medium sized medical technology firms who are seeking finance to develop new product and process ideas. Companies can enter the second round of a multi-million-pound innovation competition, ahead of its deadline next month. In particular, Pera Technology is keen to hear from both SME manufacturers of medical devices and those with a focus on the clinical validation of biomarkers. The chosen businesses will receive a fully-funded application to the European Commission’s Horizon 2020 science and innovation fund. The fund, launched earlier this year, provides grants of between £40,000 and £5m (€50k and €6.3m), to turn new product ideas into commercial prototypes. Pera Technology’s Head of UK Business Development, Marc Greatrex, said: “We’ve seen a huge response to the first round of the competition. There are a number of innovative new product ideas that we are now progressing to the next stage. By extending the competition we’re aiming to help even more businesses increase product portfolios and generate new revenue.” All of the submissions will be assessed on a range of criteria including feasibility, commercial potential and originality. For those businesses that aren’t successful Pera Technology will provide detailed feedback on how best to take their new innovation to the next stage. How to enter To enter the competition businesses simply need to provide details of their new product idea on Pera Technology’s Horizon 2020 competition website www.peratechnology.com/h2020comp The deadline for entries is Friday 21st November. Entrants will also be provided with a Non-Disclosure Agreement in order to protect their intellectual property.
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