Innovative businesses urged to consider Life Sciences Pathfinder programme
8th September 2015
Innovative businesses from across Scotland looking to explore the commercial potential of an idea before bringing it to market are being urged to consider the Pathfinder Accelerator programme, delivered by Highlands and Islands Enterprise (HIE).
Pathfinder is free and open to existing and start-up companies in the life science, technology and digital health sectors. It is facilitated on HIE's behalf by BioCity, the UK's largest bioscience incubation centre, and provides access to fast-track "pressure tester" facilities, to help establish quickly whether or not a business idea will succeed.
If the programme delivers strong positive indicators for the idea, the business can launch a new product at substantially lower cost. If not, it can save time and money by restructuring it or moving in a different direction.
The programme kicks off with a ‘boot camp’ in September before formally getting underway on 1 October. Existing and start-up businesses are eligible to apply as long as they are able to join group sessions in Inverness for 12 weeks.
Charlotte Wright, HIE’s director of business and sector development, said: "Pathfinder provides delegates with six months of coaching support, access to a network of more than 50 specialists and advice about funding for their project. It is a hugely efficient accelerator programme that determines the extent of an idea’s commercial potential much faster that would otherwise be the case. It saves the business time and money. For ideas that do stand the tests of commercial viability, companies can pursue investment with more confidence.
The programme was piloted successfully last year with a number of teams taking part. These included the University of Aberdeen’s Centre for Rural Health. The Centre had been running its MIME (Managing Information in Medical Emergencies) project at the university for five years. MIME is a system designed to support the first person on the scene of a medical emergency - community first responders, a Red Cross volunteer or GPs who don’t often deal with emergencies. The team, headed by Dr Alasdair Mort, felt it might have commercial potential.
Dr Mort said: “Pathfinder gave us time away from the academic world to get to grips with the business opportunities. Grab it - and recognise that this is an amazing opportunity. You’re going to get coached by some real experts. You’ll have fun and develop camaraderie with the other participants."
Another participant in the pilot was Dean Mann, director of business intelligence software company, Blakeseye, who said: “. . . taking part helped us realise that we have a product that we can start selling straight away. That probably wouldn’t have happened without Pathfinder.”
As well as applications, HIE is also looking for experienced individuals to join the growing network of specialists to support the programme.
Related Businesses
Related Articles
A programme of remedial works to bring Scotland's only funicular railway back into service at Cairngorm Mountain is entering a new phase during week beginning Monday 15 April. With the snowsports season now over, multiple teams from contractor Balfour Beatty, appointed by Cairngorm Estate owner Highlands and Islands Enterprise (HIE), are set to be deployed on the mountainside.
The five-year agreement between Scotland's Rural College (SRUC) and Highlands and Islands Enterprise (HIE) will also play a major role in contributing to regional economic growth. The signing of the agreement, by Professor Wayne Powell, Principal and Chief Executive of SRUC, and HIE Chief Executive Stuart Black, follows the official opening of SRUC's Rural and Veterinary Innovation Centre (RAVIC), a valued addition to SRUC’s School of Veterinary Medicine, in Inverness by HRH the Princess Royal.
Deerness Distillery Ltd has secured £246,000 from Highlands and Islands Enterprise (HIE) for the £820,000 development. Construction is underway at the distillery, which was founded by husband-and-wife team Stuart and Adelle Brown.
The Co-Chairs of the Inverness Castle Delivery Group, Fergus Ewing MSP and Cllr Ian Brown, are delighted to announce the award of £30,000 from Highlands and Islands Enterprise (HIE) in support of framing the 57 panels that will form the Tapestry of the Highlands and Islands. This financial commitment from HIE has contributed significantly to the preservation of the 57 panels created by communities across the Highlands and Islands, of which 32 will be included in the first exhibition as part of the Inverness Castle Experience.
Sumitomo Electric UK Power Cables Ltd plans to establish major operations in the region, supplying high voltage cables to the growing offshore wind energy sector. A funding package has been agreed to secure an estimated £350m in inward investment for Scotland, based in the Highlands.
As part of the study, businesses, community groups and social enterprises with future land or property plans are encouraged to complete a short survey by 22 March 2024. Whether it's interest in land for sale or space to lease, HIE is keen to hear from organisations already based in the region as well as from those that are considering locating a business to the area.
L&M Engineering has secured a grant of £58,914 from Highlands and Islands Enterprise (HIE) for the development, which is set to boost business turnover by £1.2m and create two jobs over the next three years. The company is diversifying its operations to cater for additional aquaculture markets.
Most businesses in the Highlands and Islands consider their links with the local community as either equal to or more important than their profitable growth. This is one of the key findings of the most recent rural business survey commissioned by Highlands and Islands Enterprise (HIE) in partnership with South of Scotland Enterprise (SOSE).
Dynamic business support programme, IMPACT30, is aimed at nurturing and empowering the next generation of innovative leaders. The fully funded programme is for people aged under 35 in a young enterprise and in a key decision-making role.
A project to increase electricity supply and reduce emissions on a west coast island has been awarded more than £25,000 by HIE. The HIE funding is being used to replace and upgrade high voltage transformers and other associated equipment to enable a major upgrade of the renewable energy supply on the Isle of Muck.
