Global Business Innovation Programme in the USA - Digital Health
Innovate UK invites ambitious companies with expertise in self-driven healthcare to participate in a Global Business Innovation Programme in the USA.
Opportunity Details
When
Registration Opens
04/06/2024
Registration Closes
14/07/2024
Award
Innovate UK will fund and organise flights, accommodation, in-market travel, and conference fees for successful applicants. Innovate UK will also pay for any reasonable adjustments throughout the initiative. One representative from each company will be funded.
Organisation
Innovate UK
Note: This opportunity is fully funded support and not monetary funding.
Innovate UK’s Global Business Innovation Programme consists of a Get ready preparation phase, 5-day innovation visit focused on Self-Driven Healthcare, an Exploit the opportunity workshop and follow up support from an Innovate UK innovation and growth specialist, helping your business maximise the opportunities identified, including developing innovation projects with partners in the territory. This initiative will be delivered physically. This programme will include a visit to HLTH conference in Las Vegas.
Innovate UK is committed to ensure that anyone, from any background, has an equal opportunity to be successful.
Find out how our GBIP in the USA can help your business grow.
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The Global Business Innovation Programme is structured around three main phases and each business will have a designated Innovate UK innovation and growth specialist to support them for the duration of the offering, including developing an action plan to capitalise on the opportunities identified. The three main phases of the Global Business Innovation Programme are:
- Get ready: Briefing workshop to build knowledge and understanding of the market and potential opportunities, including how to do business, cultural aspects, how to protect your IP and training on how to improve your pitch and articulate your value proposition. (2 day workshop)
- Visit the market: Explore the innovation opportunities first-hand through meeting with key companies and research organisations and potential collaborators and partners through pre-arranged meetings and organised matchmaking. (5 days of market related activity)
- Exploit the opportunity: An exploitation workshop and one-to-one support from a Innovate UK Innovation and Growth Specialist to follow up and take advantage of the opportunities identified. (1 day workshop and as a guide, around 5 days working with an Innovate UK innovation and growth specialist)
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To apply for this initiative, you must:
- Be a UK based innovation-led company with ambitions to grow and internationalise
- Be a company with fewer than 250 employees
- Be CEO, Founder or senior decision maker and able to attend and complete all activities
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According to a recent McKinsey & Company article, realignment of the US healthcare system is being accelerated to better address the population’s chronic-disease burden. This transformation is prompted by changes in consumer preferences, technology adoption, policy direction, reimbursement, and investor appetite. Consumers are demanding greater access to care and a more seamless experience.Virtual health has experienced substantial growth since the pandemic, with the numbers of telehealth visits in October 2021 remaining more than 1,300% higher than before the pandemic. Advances in medical technology including wearable devices are seen as creating self-service opportunities that can also reduce the number of patient touchpoints needed to deliver care. Technologies such as remote patient monitoring support the blending of automated, virtual, and home-based care delivery, which could extend the time between clinical touchpoints and detect health issues earlier. Spending on home or remote care could grow to an estimated $265 billion or more by 2025. Healthcare remains a top-three investment area, with more than 10 percent of committed funds in 2021 earmarked for healthcare.
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We would welcome applications from innovative companies involved in driving resource use, efficiency, and productivity through the development of digital health innovations with a focus on AI & data driven solutions in the following areas:
- Healthy lives & longevity
- Preventative health & diagnostics
- Chronic condition management
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- Explore USA self-driven healthcare opportunities.
- A better understanding of the challenges and opportunities of doing business in USA.
- Find potential innovation collaborators and partners and develop your network in the UK and globally.
- Improve your company value proposition to international partners.
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Register to attend the applicant briefing event on 28th June here.
Applications close: 14th July 2024
Get ready workshop: 18th – 19th September 2024
Visit the market: 19th – 25th October 2024
Exploit the opportunity workshop: 15th January 2025