Driving Medical Research & Creating Healthcare Solutions Through Effective
Collaboration
HIC Fund Programme
The Health Innovation Challenge Fund (HIC Fund) is a scheme
supported in equal measure by the Department
of Health and the Wellcome Trust.
Key Objectives:
- Encourage innovative products for patient benefit
- Improve the uptake of new technological advances into patient management
pathways
- Integrate the clinical, research, informatics and product development
communities
Positioning of HIC Fund within Health Research:
- Translational funding mechanism – two themes per year, each up to £10m
- Eligible projects will have achieved key milestone - validated
'proof-of-concept'
- Funding intended to take the product, technology or intervention to a stage
where it is sufficiently developed to be attractive to:
- Commercial organisations for follow-on development and taking the product to market, e.g. VCs , corporates
- Not-for-profit organisations that can offer expertise & resources to assist with trials and complete the development, e.g. National Institute of Health Research
- National healthcare providers if the product is ready for procurement and
adoption e.g. NHS