A £5 million financial injection is set to benefit Yorkshire’s medtech industry.
The UKRI Engineering and Physical Sciences Research Council (EPSRC) has allocated £5 million to facilitate the translation of university research into practical healthcare products and services.
The initiative, led by the University of Leeds in collaboration with the University of Sheffield and various civic partners, is anticipated to have a positive impact on the region’s medtech sector and potentially benefit around two million patients by 2040.
Professor Nick Plant, deputy vice-chancellor for research and innovation at the University of Leeds, said: “This is an extremely exciting opportunity, supporting the world leading MedTech research and development that occurs across Yorkshire. This critical funding will further align the fantastic research coming out of universities in our region with the needs of the MedTech industry, speeding up the translation of innovative solutions to marketed products.
The funding will be directed toward research groups in the region working on medtech products. It will support market and clinical assessments of new technologies and provide backing for preliminary and technical work to bridge the gap between research and market-ready products.
Additionally, the funding will be used for networking events, public and patient engagement initiatives, workshops, and secondments.
“This funding will support researchers at universities across Yorkshire to work with our strong regional MedTech industry and translate their research into new medical products and services,” said Professor Ruth Wilcox, director of the Institute of Medical and Biological Engineering at the University of Leeds.
The medtech industry in Yorkshire currently has a value of £2 billion, with over 200 companies employing more than 16,000 people.
Tracy Brabin, Mayor of West Yorkshire, added: “Our region is a leader in health tech and this investment will help the industry go from strength to strength.
“We’re committed to working with our partners, across the public and the private sector, to build on our global reputation for innovation and deliver a stronger West Yorkshire that works for all.”