Scottish SMEs are being urged to take advantage of a new £4.2m MedTech accelerator programme with government grants of up to £30,000 available to help them overcome regulatory hurdles

The UK’s Centre for Process Innovation (CPI) has opened applications for the fund which is designed to support MedTech companies meet new regulatory requirements with their products and services.

CPI and the Office for Life Sciences (OLS) have joined forces to deliver the MedTech Accelerator: Rapid Regulatory Support Fund (MARRS), providing assistance and enabling growth across the industry including Scotland’s 250 MedTech companies which employ over 9,000 people.

Head of Regulatory Affairs at InnoScot Health, Elaine Gemmell said: “I would strongly recommend that the many Scottish SMEs involved in developing or offering medical devices and diagnostics products/services take this opportunity to potentially reap the rewards of being supported in navigating the UK’s complex regulatory landscape.

“Securing funding of up to £30,000 could make a significant difference when seeking out the kind of high-quality external regulatory guidance and support that can be invaluable to ambitions in the current environment.

“For your business, it could allow acceleration of the development of safe and effective devices to market. It could also be the financial support required to maintain the availability to patients of your critical devices, including software as a medical device, in line with future regulatory demands.

“Some 140 MedTech SMEs could stand to benefit from the maximum grant, helping to ensure that regulatory barriers are broken down and product and service timelines are hastened as much as possible for patient benefit.”

The accelerator programme will be aiming to identify innovative new technologies and investment opportunities. The application window closes on 31 October. Relevant companies are advised to apply to the fund as soon as possible, as only the first 300 applications to the programme will be accepted for consideration.

Elaine added: “If you’re already making important MedTech breakthroughs, then this could be your chance to stand up and be counted, unlocking further potential collaborative partnership benefits for your SME.”

The launch of a new Regulatory Innovation Office to help accelerate ideas and reduce red tape was recently announced by Science and Technology Secretary, Peter Kyle.