The Innovation Fund
What is the Innovation Fund?
We know that everyone has ideas for innovations and improvements all the time. However sometimes it can be difficult to progress an idea because it needs some money to make it happen or prove that it is a worthwhile thing to do.
As part of our drive to encourage and support innovation and improvement, we have launched The Innovation Fund which will help to support those ideas by providing funding to help make them a reality.
The Innovation Fund can provide financial support to all types of innovation, with the only stipulation being that your idea must contribute to one of our six improvement areas of focus shown below:
- Clinical Effectiveness and Outcomes
- Service User Experience
- Productivity and Effectiveness
There is no upper limit to Innovation Fund awards - the Panel can make awards up to £25,000 and requests above that figure will be considered by the Executive Team and require a formal business case. All awards are made on a one off, non-recurrent funding basis.
We will be taking a positive approach to requests and will make awards to both ideas that have an immediately quantifiable benefit and to those where the funding will enable that idea to be progressed, tested and evaluated.
Through the Innovation Hub we provide two sessions specifically related to the Innovation Fund; an ideas development session and a delivery planning session.
The ideas development session is an optional session designed to help you to work up a compelling idea and application. Our facilitators will help you to think about what you may need to enable you succeed and we will seek to turn your idea into a viable proposal.
Attendance of the delivery planning session is a 'must do' before funds are released to you following an award at the Innovation Funding Panel. Our facilitators will help you to develop a credible plan for implementing your idea that demonstrates that your idea will be tested and measured for impact.
To make an application to the Innovation Fund, see the links opposite, read the guidance and if you have any questions or would like additional advice or support, please mail your query to email@example.com