Innovation evaluation and development
Once you have fully explained your idea to us, there are a number of important steps we undertake to assess its merits and decide whether Medipex can help in turning your idea in to a commercial reality.
We will provide feedback within 10 working days of receipt of the details, indicating our initial thoughts on the feasibility of commercialisation. Remember that it is important that you don’t disclose your idea to anyone before speaking to us. If you do, it may affect the Trust’s ability to protect the intellectual property and therefore would prevent commercialisation.
For ideas we consider to be viable opportunities for further development we will:
- Outline a project plan indicating major milestones, indicative funding and resources requirements
- Evaluate your idea seeking independent clinical opinion, undertaking market, competitor and patent analysis as appropriate
- Enlist the support of Trust senior management
- Help identify funding sources for the development of healthcare innovations (e.g. YHAHSN funding opportunities)
- Provide advice on intellectual property protection and strategy (e.g. patent, trade mark, copyright)
- Develop a project business plan including information to describe such aspects as; intellectual property strategy, prototype development, clinical evaluation studies, regulatory compliance requirements, project management, funding requirements and sources, potential market valuation, financial projections and routes to market.