SIGHT Programme

At JVR Consultancy, we are proud to announce a groundbreaking collaboration with the University of Portsmouth, in particular the SIGHT Programme. We will now be using our expertise to support the SIGHT Programme, delivering advice and guidance on how small-to-medium-sized businesses in the healthcare technology field can become compliant with key industry regulations.

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Free Webinar: How to cope with CyberSecurity & Data Protection threats in a digital world. Wed, 2 March 2022 – 13:00 – 14:00 GMT

SIGHT Programme Explained

As one of the most accomplished compliance advisory consultancies in the UK, we are extremely excited to work with the University of Portsmouth on this project. Our focus will be on Managing Medical Devices, CyberSecurity & GDPR for SIGHT SMEs. It’s something we’re very passionate about as we look to empower small businesses to become more compliant, protect their data and avoid serious cybersecurity issues & threats.

SIGHT stands for Supporting Innovation and Growth in Healthcare Technologies, and this programme has been started by the University of Portsmouth with the aim of enhancing SME competitiveness in the UK healthcare and MedTech sectors. In essence, it is a programme that’s built around the idea of supporting these businesses as they look to navigate this tricky and competitive sector.

SIGHT is partially funded by the European Regional Development Fund (ERDF) which has injected £1.7 million into the programme. This grant will help the programme deliver a range of support packages and ideas to help companies become more aware of the big issues in their line of work. In particular, there will be challenges when bringing products to the market. By being part of the SIGHT Programme, small businesses will understand how to overcome these issues.

The Three Stages Of Support For SME SIGHT Members

Businesses that become members of the SIGHT programme get to enjoy three different stages of support:

Stage One – Identifying and supporting opportunities for growth

This first stage is all about engaging with expertise to provide guidance on a plethora of subjects within the healthcare sector. In turn, there will be a webinar series that connects businesses to these experts – and that’s where JVR Consultancy comes in.

We are currently due to present a free webinar on March 2nd at 1 pm that covers CyberSecurity and Data Protection. This will help businesses understand the cyber threats to their business, what they can do to prevent them and how they can remain GDPR compliant. We’ll also explain why it is important to be GDPR compliant and use the necessary steps to protect your data.

Of course, other experts will present their own webinars and content for member SMEs, looking at other key topics – such as protecting and exploiting intellectual property, supplying to the NHS, identifying international business opportunities and marketing.

Stage Two – Engagement with expertise and experience

In the second stage of the programme, members have a chance to directly engage with other companies and individuals that have expertise and experience within the healthcare sector. This includes direct access to clinicians, patient groups and academics, allowing companies to identify opportunities for product/service development.

The primary aim of this stage is to ensure that SIGHT SMEs can develop products that have a genuine purpose and need within society. It also gives businesses a chance to develop and grow through the programme by learning what types of services/products are worth developing or not.

Stage Three – Supporting steps towards commercialisation

The final stage looks at the development of a smaller number of companies to help them commercialise their technologies for deployment.

In Stage Two, the SMEs that have the strongest value propositions will be picked out and selected for special support packages. As an example, selected companies will be given a road map that’s tailored for their business, helping them go through the product development stage to actually take their product to market.

SIGHT Grant Award Scheme

Businesses that make it to Stage Three can also be in the running for the SIGHT Grant Award Scheme. This is designed to inject financial support for SMEs during business development. There’s a 25% intervention rate for business development costs, with a max award of £25,000.

The good news is, this grant can be awarded multiple times to many different businesses. Members have a chance to apply whenever they like, and there are monthly assessment meetings to see who deserves the money the most. The grant can support a range of key costs, such as:

  • IP protection
  • CE marketing consultancy fees
  • Clinical and public trials
  • Marketing services

As of writing this, 21 grant awards have already been made, with £125,000 awarded to these businesses.

SIGHT Progress So Far

The programme gained funding in 2019 and has already enjoyed a lot of success since then. Along with the 21 grants awarded, 5 member companies have been helped in securing angel investment for their business ideas. Not only that but a total of 343 companies have been engaged on the programme, with over 1,750 hours of direct SME engagement.

194 members are currently signed up to the SIGHT Programme, from a diverse range of sectors including genome sequencing to mental health support. 20% of current members are involved in digital medical technologies, 20% are within 20 miles of Portsmouth and most members have fewer than five employees.

50 webinars have already been held, with a total of over 1,000 attendees across them all. There have also been collaborative funding bids worth over £3 million submitted via the SIGHT Programme.

The Benefits Of SIGHT

The SIGHT Programme is extremely beneficial for businesses of all sizes, but it’s particularly useful for SMEs. If you have a business within the healthcare field, joining this programme can help you access a lot of vital support and information. You have the ability to apply for grants to inject some funding into your business, but you also get direct access to support from industry experts! It’s a fantastic opportunity for you to grow your business and understand how to find a gap in the market.

At JVR Consultancy, we’re extremely proud to be an affiliated partner of the SIGHT Programme and excited to support University of Portsmouth and the great work it’s doing for small businesses across the UK.

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