A £4.2 million MedTech accelerator programme has been launched to provide grants to up to 140 UK small and medium-sized enterprises (SMEs) to address regulatory challenges.
The six-month MedTech Accelerator: Rapid Regulatory Support Fund (MARRS) is specifically designed for SMEs developing medical devices and diagnostics products or services.
Funded by the UK government and delivered by CPI in partnership with OLS, the programme offers grants of up to £30,000 for external regulatory guidance and support to expedite the development of safe and effective devices to market or ensure compliance with new regulations.
This initiative aims to accelerate transformative medical technologies by identifying key opportunities and proposing initiatives to unlock investment and capacity.
Research indicates that delays in obtaining market approval and uncertainties in regulatory pathways are causing issues for the MedTech industry in the UK, leading to potential delays in introducing innovative medical products.
The programme opened for applications on 9 October 2024, with decisions expected by 29 November 2024. The first 300 applications will be considered for the programme.
Health Secretary Wes Streeting has pledged to make Britain a powerhouse for life sciences and medical technology, while Science and Technology Secretary Peter Kyle announced the launch of a regulatory office to support the safe deployment of AI innovations.
