"Commercialisation and product innovation is key to supporting our NHS and patients"
The leading organisation for health innovation in Wales has launched a new strategy which will specifically support businesses and the NHS in Wales with innovative solutions and services for patient benefit.
As the NHS celebrates its 70 anniversary this week (July 5), Life Sciences Hub Wales have set out their ambitions for the future of health innovation in Wales.
Chair of Life Sciences Hub Wales, Professor Sir Mansel Aylward said:
"Rarely within a person's lifetime do they have the opportunity to secure sustainable positive benefits to the health and wellbeing of communities across Wales, which is what the Life Sciences Hub Wales is now set out to achieve.
"As Chair, I am committed to ensuring that this vital step-change in the innovation is successful in creating lasting wealth and health and care benefits, to the people of Wales".
Cari-Anne Quinn, Chief Executive Officer for Life Sciences Hub Wales said:
"With a growing and aging population, we must find new and better ways of treating and preventing illnesses and health issues to better support our NHS. Commercialisation and product Innovation is the best way to do this.
"Businesses find it hard to get a break and the NHS finds it challenging to spot suitable treatments or services because they are inundated
"Life Sciences Hub Wales will act as the middle ground experts - supporting businesses with funding opportunities and supporting the NHS in finding the right solutions. On top of this, ACCELERATE will work with industry partners to speed up the translation of ideas into new technology for the sector.
"Ultimately we want Wales to be the place of coice for innovation in health, care and wellbeing. Our strategy to improve health products and services for use in our NHS and across the world is our commitment to ensuring that Wales is a place where innovation is talked about, encouraged, supported and celebrated."
A patient who developed a product to help managed his own lung condition has already backed the new strategy.
Ian Bond was diagnosed with Chronic Obstructive Pulmonary Disease (COPD) and with the support of Life Sciences Hub Wales, he developed a self-management digital platform to help monitor his condition.
Ian Bond, Co-founder Bond Digital Health said:
"Having the support of Life Sciences Hub Wales has been invaluable in developing my business. I knew that I could create a product that would help people like me manage their illness, but like everyone else, I didn't know where to start
Life Sciences Hub Wales took my idea seriously and introduced me to an industry of contacts and advisors. It's hard going at the beginning of the business, but with their support we managed to turn the idea into a product and business which now employs 8 staff.
"Whilst you can measure the cost savings of these products, tangible savings are also being made to doctors and specialists' time which has a positive impact on waiting lists, hospital beds take up and the general quality of life for patients and their families. This new strategy and programme announcement is exactly what the health care sector needs and it's a great step in the right direction for patient care."