Innovation is the process of developing an idea to meet a technical or operational need. In the NHS this is usually a healthcare need that aids clinical practice towards a positive outcome. Often innovation may be related to process and service management, but it may also be through the development of new medical technology or clinical tools. Examples of healthcare innovations include;
- Surgical equipment
- Self-management handbooks
- Medical devices
- New drugs and
- New therapeutic uses for drugs already used in clinical practice.
Innovation in healthcare aims to make the patient experience better and improve safety. It also has commercial potential not only to save costs but also to bring in income for the hospital and the innovator. In addition to having commercial benefit, healthcare innovation helps the day-to-day lives of hospital workers and patients.
UCLB’s team of highly experienced business managers work closely with innovators to bring novel technologies through the journey from invention to market. They can provide expertise and support on:
- Evaluating innovative ideas and identifying development routes and commercial potential
- Advising on how to protect ideas to enable translational funding or collaboration with commercial partners
- Filing and securing intellectual property rights around new innovations
- Projects through UCLB Proof of Concept Funding and leverage of commercial development or translational grant funding
- Advising on intellectual property for grant applications
- Access to expertise around regulatory compliance, such as CE-marking
- Dealing with organisations that can produce prototypes, including (but not limited to) devices, surgical equipment and software
- Negotiating commercial terms with licensees or investors
- Developing social enterprises including business plans, contractual and company formation advice and identification of social investors.
The long term aim is to partner with industry to maximise the impact of the innovations made by GOSH and the ICH and translate them into technologies that can be made widely available for patient benefit. UCLB have a wealth of experience working with both the NHS clinicians, UCL academic researchers and scientists.
For more information on how UCLB supports research at GOSH and the ICH visit the UCLB website below: