Applications for the Innovate UK, the National Institute of Health Research (NIHR; i4i programme and AI in Health and Care Award) and the Small Business Research Initiative (SBRI) Healthcare Investment Readiness Programme are now open. The programme offers support for selected companies to gain the skills and expertise to prepare them to find and secure investment.
Delivered by Bionow, the Investment Readiness Programme has been designed for UK MedTech, Diagnostics and Digital Health companies who have previously received Innovate UK (including Biomedical Catalyst), NIHR (i4i and AI in Health and Care Award) or SBRI Healthcare’s funding.
Applications to the programme are now open and twelve companies will be selected to receive the support. Applications close on 4 February 2022
and are invited from companies interested in benefiting from the Innovate UK, NIHR and SBRI Healthcare Investment Readiness programme, however, to be eligible applicants must meet the following criteria
- Have previously received Innovate UK (including Biomedical Catalyst), NIHR (i4i and AI in Health and Care Award) or SBRI Healthcare funding (Please note that a contract or funding agreement must have been signed).
- Are in the MedTech, Diagnostics and Digital Health sectors.
- Are seeking seed or series A investment between £100k-£2m.
- Are based in the UK.
Notes for applicants:
All applications must be sent to email@example.com
with the subject line of ‘Innovate UK and NIHR Investment Showcase Application’. The deadline for submission is midday on 4 February 2022
All information provided will be treated in confidence and only distributed for use in the programme. The process will be competitive, and the decision of the panel will be by majority and is final.
Following the closing date, applications received will be assessed by a small panel of assessors with relevant technical and commercial expertise. The panel will select 12 applications that will get the opportunity to proceed to the next stage of the Innovate UK, NIHR and SBRI Healthcare Investment Readiness programme – the virtual Pitch Training. Applicants will be contacted by 23 February 2022 to inform them whether they have been selected. Those applicants who are unsuccessful will receive either free attendance at a Bionow digital event in 2022 or a significant discount to attend a Bionow face-to face event in 2022 (excluding the Bionow annual awards dinner).
The 12 successful applicants selected for the Innovate UK, NIHR and SBRI Healthcare Investment Readiness programme must be available to attend 3 days of compulsory virtual Pitching Training on:
- 4 March 2022
- 8 March 2022
- 11 March 2022
Following the virtual Pitching Training, applicants will put what they've learnt to practice and will pitch in front of a small panel, who will provide advice to improve the pitch and select a limited number of companies to proceed to the online investment showcase. If selected to proceed applicants must therefore also be available on 30 March 2022
to present their company overview, plus their request and need for funding in an 8-minute virtual “pitch” at the online investor pitching session.
What successful applicants will receive:
Companies selected for the programme will receive significant support, including 3 sessions of Pitch Preparation Training delivered by Ned Wakeman an expert from the Alderley Park Accelerator and supported by Bionow. Companies will receive insights into all aspects of the fund-raising journey, receive one-to-one coaching and engage with experienced investors and entrepreneurs, covering:
- The investment landscape – what funding is available & how to find it:
- Grant, Angel, Debt, VC, Private Equity, public markets.
- Investor perspective – what different investors look for:
- How to pitch investment ”value” rather than just science.
- 10 key slides, what to include, how to talk to investors about key aspects of the business.
- Q&A and follow up with investors.
- Due diligence.
- Valuation methods and return on investment.
- Tax relief considerations (e.g., EIS, SEIS).
- Preparing for your follow-on round now.
- Pitch preparation, elevator pitch & “how to” present:
- Introduction to investment pitches (what’s required, content and templates).
- Pitching deck vs email deck.
- Delivery approaches.
- Critique & feedback:
- Throughout the sessions feedback will be provided via the APA team and peer-to-peer discussions.
- A final “Dragon’s Den” mini panel and 1-2-1 session with an investor will provide feedback on draft pitches.
The programme will culminate with an online Investment Showcase attended by life sciences investors, when successful programme participants will make their 8-minute pitches to investors. At the online event a panel of seasoned investors will question applicants following their pitch and provide feedback on their performance, giving them a launchpad for growth.