Pharma giant Pfizer has launched a new initiative that is intended to invest in start-up companies based in the UK.
Pfizer Healthcare Hub: London will offer start-ups a chance to compete for a share of a grant worth £56k and a year-long programme of support, helping the companies navigate the UK’s health system.
With this move, Pfizer has recognised that technology, including devices, apps, wearables, artificial intelligence and virtual reality, plays an increasing role in delivering and improving healthcare and the company aims to “support and accelerate innovation in this area”.
Erik Nordkamp, managing director, Pfizer UK, said: “I’m delighted that we’ll be launching the Pfizer Healthcare Hub here in the UK.
“We live in a country that is already a centre for original thinking and innovation within healthcare and our goal is to accelerate the success of the brightest start-ups in this field and help them make a difference to patients.”
The successful start-ups will benefit from access to Pfizer’s network of global partners, including the NHS.
Dr Hamish Graham, manager for Pfizer Healthcare Hub: London, said: “The healthcare hub will provide a platform for start-ups to harness Pfizer’s global network, enabling them to get access to our expertise, understanding and guidance.
“We hope, with our support, that they’ll be able to reach their goals and get their innovations adopted within the health service.”
The London Hub is the latest in a string of existing centres in New York, Berlin and Tel Aviv.
New hubs are also being launched simultaneously in Stockholm, Sydney and Toronto.
