Recently, in the world of business there are many different occasions to boost the business and its performance, for example, a pitch contest is one of the best ways to promote your Start-up Company and win a number of prizes that might be very helpful in the early years of your business. For small and medium enterprises we can find a number of different contests or partnership possibilities that are challenging but at the same time worth looking at and can definitely boost any company’s performance.
The UK Innovation Fund is one such opportunity for businesses. It is a governmental fund in cooperation with Innovate UK. Each year, there are various competitions in which many teams, consisting only of companies from the United Kingdom, take part in and compete to win the prestigious prize, funding of the project and have an impact on the changing world. After months of planning, brainstorming and executing the ideas a jury assesses the projects and pick the best one that is funded and can be brought to life.
Headchannel Ltd. was the member of a winning team of the UK Innovation Fund in 2018.
At the end of November 2017 the fourth round of Biomedical Catalyst 2017 competition started. Small and medium enterprises from the UK could apply for a share of up to £4 million to work alone or with others on solving healthcare challenges in a model system. The aim was to support the development of innovative healthcare products, technologies and processes. It could, for example, include disease prevention and proactive management of health and chronic conditions or earlier and better detection and diagnosis of disease, leading to better patient outcomes.
The functions of a lower limb prosthetic is highly dependable on the characteristic, anatomical profile of the limb and many other individual factors. A poorly fitting prosthetic socket can cause trauma and negatively affect the functions of a prosthesis itself and that is why it is crucial to optimise the fit and maximise the comfort of amputee’s while wearing the prosthesis. Currently, the process of fitting the prosthesis and designing the optimal socket is time-consuming and depends mainly on the prosthetic experience and skills.
Problem to be solved
On this stage of the project, two problems have been identified and these are:
Team decided to deal with these problems primarily and improve lives of thousands of amputees.
The solution consists of these steps:
All the work, from the beginning to the end, was observed and judged by the assessors in many fields. Based on their opinion, the decision who would be funded was made but after the verdict all the assessors were obliged to deliver constructive feedback for all the participants. They have also highlighted the fact that this project would be very healthy for the economy and would allow to save a lot of public money in the long-run.
The average score of the whole team was 9/10.
Assessors’ feedback on INNOVATION:
Assessors’ feedback on the TEAM:
TO SUM UP
We, as Headchannel Ltd., are very proud and honoured to be part of the winning team of such a great, prestigious prize. Furthermore, we are greatly pleased that we could team up with professionals from the United Kingdom and do something that may help people to recover and get better, faster and more comfortably.