The UK Canada AgeTech Innovation Exchange has launched a competition to support businesses with innovative products that improve the health and well-being of older people in the UK and Canada.
Companies from across the two countries can apply for funding to participate. Eight winning companies from the UK and up to five from Canada will be selected to take part in an in-person international exchange visit. In addition, up to 25 companies from each country will be invited to join virtual programmes designed to help define and develop their value proposition.
The competition opens on January 3 and applications will be accepted until February 3, 2023. Winners will be announced in March.
Companies can apply for the Innovation Exchange and find out more information here.
The successful businesses will be supported by UK and Canadian experts with in-depth knowledge of the healthy ageing innovation ecosystems within each country, from national healthcare providers, academia and industry.
Companies that have an innovation that addresses key healthy ageing needs, and have a credible evidence base, can apply. The competition priorities are:
- Ageing at Home
- Health Care and Health Service Delivery
- Cognitive and Mental Health
- Autonomy and Independence
The focus is on innovative solutions that are either in market or ready to be tested/ validated in a real-world setting, have a perceived or potential significant positive impact on a healthcare priority and are export ready.
The programme is funded by Innovate UK and includes the following partners: Department for International Trade; the four northern Academic Health Science Networks (AHSNs) from the UK - Health Innovation Manchester, Yorkshire and Humber AHSN, Innovation Agency (North West Coast AHSN), AHSN for the North East and North Cumbria; and AGE-WELL and CABHI from Canada.
Dr Mandy Dixon, head of corporate engagement and Healthy Ageing Programme lead at the NHSA, said: “As people are living longer, it’s never been more important to ensure those extra years are spent in good health. Healthy ageing is a complex challenge that demands innovative, real-world solutions.
“The UK Canada AgeTech Innovation Exchange programme brings together leading experts to support companies that are developing innovations that can improve the health and well-being of older people for generations to come.
“As an exemplary life sciences cluster, the Northern Health Science Alliance’s healthy ageing network worked with partners from across the North of England, the UK and Canada to form a consortium that will facilitate transformative solutions to support an ageing population.”
Dr. Allison Sekuler, president & chief scientist, CABHI, said: “Now more than ever, we need innovative solutions to help people age well, and we need to ensure the best solutions can be accessible everywhere. The UK Canada AgeTech Exchange is a terrific example of how countries working together can do more for everyone. CABHI is thrilled to partner on this important initiative, supporting the development, spread, and scale of innovative UK and Canadian companies through our unique programming, services, and platforms. We all age better when we work together.”
Dr. Alex Mihailidis, scientific director and CEO of AGE-WELL, Canada’s technology and ageing network, said: “AGE-WELL is proud to be a founding member of the UK Canada AgeTech Innovation Exchange programme and to support this important new competition, which aligns with our mission to accelerate the delivery of technology-based solutions for healthy ageing, while generating social and economic benefits. AGE-WELL has a track record of collaborating with stakeholders in the UK, and we are excited to create additional opportunities for Canada’s AgeTech startups. The combined support of each of the organisations involved in the Innovation Exchange will help innovative startups to succeed in a new country, enhancing the lives of older adults everywhere.”
Applications will be accepted until February 3, 2023, and winners will be announced in March 2023. Companies can apply and find out more information here.