INSIGHTS / Blog

In July 2022, Innovate UK launched a series of grants worth £30 million to back innovative UK businesses to accelerate innovation and boost the UK economy. Fast forward four months and several SETsquared Exeter member organisations have been recognised for their innovative product and service development with a grant award.

These Fast Start Innovation grants looked across the government’s innovation strategy with an additional focus on net zero solutions and self-driven healthcare. Dr Deborah Watson from Innovate UK EDGE said,

“Fast start grants are a great way to help small and micro businesses take their great ideas closer to commercialisation. Making affordable, adaptable, and investable innovations in net zero and self-driven healthcare a reality helps business growth in these key areas. For the businesses, such grants de-risk and accelerate ideas to market catalysing commercial success.”

With innovations across post-natal healthcare, group therapy video conferencing solutions, and child welfare monitoring, the societal and economic benefits ready to be accelerated are tangible and impactful.

One of the successful companies from Exeter is Mama Health, a health-tech organisation that helps people living with chronic conditions, find others going on that same journey. Co-founder Dr Sarah Andrews commented on the significance of the grant to Mama Health’s development.

“The impact of this grant has been huge. We have spent two years bootstrapping with a clear and passionate vision – an app to support and navigate women through the post-natal period, empowering women to understand their recovery whilst aiding early recognition and diagnosis of postnatal complications.

With the Innovate UK Fast Start grant, we are able to progress from ideas and a basic prototype to an MVP. This funding has enabled this huge leap to take place and put us in a much stronger position to look at future funding options.”

Through the UEEZ, and the ERDF-funded SETsquared Exeter Acceleration Programme, members are able to plan and implement strategy and structure to ensure that they are ready and able to win and utilise grant funding.

“Securing IUK funding is a core objective for many of the high-growth tech businesses joining the SETsquared Exeter Accelerator Programme. Fast Start Grants are a brilliant way for early-stage ventures to boost cash flow and accelerate innovative ideas that have a clear route to commercialisation.”

“To this end they are an essential part of the broader micro- and small business support pathway.”

Find out more about the support on offer at SETsquared Exeter.