Life Sciences Bridging Fund
The Life Science Research Network Wales are pleased to announce that they are working with the Welsh Government on establishing a Proof-of-Concept fund for the Life Sciences. The Welsh Government has identified the Life Sciences as a key economic sector and have already made a number of other major investments such as establishing the Life Sciences Hub Wales and the Wales Life Sciences (Arthurian) Investment Fund. To further support these initiatives the Welsh Government has just agreed to consider “in principle” an additional sum for a Bridging fund in the Life Sciences, to bridge the gap between basic sciences and commercialisation. Part of this will involve matched funding with the Private Sector, which is a model already strongly exemplified by the Life Science Research Network Wales and Arthurian. We are hopeful that the model will be operational by the start of fiscal year 2015/16.
This fund will enable researchers to develop the commercial potential of their research thus generating significant economic, social and health benefits for the people of Wales. The fund will be open to researchers from across Wales and support a broad range of life science areas including:
- Drug Development
- Medical devices
Projects will be awarded via open competition and assessed on research excellence and commercial potential. Projects will be assessed by an independent panel chaired by Dr David Owen OBE, who was previously responsible for establishing the MRC’s independent technology transfer arm – MRC Technology.
The fund represents a major opportunity for members of the Life Science Research Network to develop the commercial potential of their research proposals.
Further details will be available on the Life Science Research Network’s website shortly.