West of England Academic Health Science Network: Bridging the innovation gap

SAVE ITEM

14 / 06 / 2017

Most start-up businesses fail within two years. Often, this is due to poor business planning, misunderstanding the market, or failing to clearly identify and express the value proposition to investors or customers.

Add to that the complexity of the NHS as a marketplace and the high-hurdles that need to be cleared for regulatory approval, and the NHS becomes a particularly difficult market to succeed in.

At the same time, the NHS will not meet its financial or capacity challenges by relying on innovation from within. Many other sectors such as shopping, travel, insurance and journalism have benefited from adapting new technologies and new ways of working. Innovation is inevitable in the healthcare sector.

The Healthcare Innovation Programme (HIP) aims to bridge this gap by ensuring healthcare innovators start on the right track, understand their market place and can therefore successfully bring their innovations to market faster for the benefit of patients.

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