John Egan, Ceri Williams and John Fisher Goal 3: Wealth Creation Medical Technologies IKC

1. John Egan, Ceri Williams and John Fisher Goal 3: Wealth CreationMedical Technologies IKC University of Leeds Acting on the behalf of the YH-AHSN Shadow Executive

2. Primary Definitions for YH-AHSN Wealth Creation Value: The regard that something is held to deserve; the importance or preciousness of something: "your support is of great value" Wealth: An abundance of valuable possessions or money. The state of being rich; material prosperity Wealth is created when items with an exchange value are sold. Commercial enterprise combines capital and labour to create value and wealth. The entrepreneur is the primary agent of wealth creation. • Value in classical economics • Value is created by the deployment of labour • Utility or use value • Exchange value • Value is in the eye of the beholder (consumer)

3. Strategic Aims of YH-AHSN Wealth Creation • To enable industry based in the UK to increase global market share • To enhance supply and adoption into the NHS • To harness our research platforms and knowledge embedded within the NHS and HEIs to create wealth • To create a major culture change in the NHS and HEIs, to address innovation and translation to create wealth.

4. Global Sales Post Market Surveillance and Monitoring New Added Value to Deliver Wealth Creation Support for SMEs for Adoption and Sales in the NHS AHSN Supported Clinical Trials Phase 3 & 4 Evidence Pre-Clinical Phase 1 & 2 Support and Regulation Collaborative Development Proof of Concept Discover Knowledge & Define Clinical Need Technology Readiness Levels 1 2 3 4 5 6 7 8 9 10 Industry NIHR Innovation Pathway Health Services Clinical Innovation Leaders Build and Promote Global Reputation and Brand AHSN Supported Wealth Creation Infrastructure and Leadership - Director

5. Creating the Right Innovation Infrastructure • To support for new product and service development in companies that can be adopted and utilised in the NHS. • Access to IP, know-how and research that is suitable for commercial exploitation in HEIs, hospitals and in other partners alongside robust innovation management. • Access to health technology assessment, support for regulatory approval, clinical trials design and market assessment.

6. Accelerate the Validation of New Technologies • Investment in tools and methods for validation of new technologies • Proof of Concept and Collaborative Development opportunities. • Use national support for innovation such as SBRI, Collaborative R&D and SMART awards.

7. A Cadre of “Early Adopter” Clinicians • Establish a community of clinicians to work with industry to develop the evidence base for new medical technology. • Clinical collaboration for early validation and adoption rationale of CE marked products and services around key clinical specialities. • Providing the early-adopter clinical partners with necessary multi-disciplinary support.

8. Clinical Need • Support for clinical need identification that will lead to new IP and wealth creation. • Development of robust evidence of capability and opportunities that can be successfully exploited and realised. • Defined innovation management support infrastructure (including dedicated personnel and funding streams).

9. Building an Innovation Culture • The wealth creation programme will seek to create and embed a culture of innovation across all partners to ensure that value can be created and utilised. • Deploying a broad range of innovation assets • IP, Knowledge, Capability, People, Evidence • Initial audit of YH-AHSN innovation assets

10. Strategic Aims of the YH-AHSN Wealth Creation • To enable industry based in the UK to increase global market share • To enhance supply and adoption into the NHS • To harness our research platforms and knowledge embedded within the NHS and HEIs to create wealth • To create a major culture change in the NHS and HEIs, to address innovation and translation to create wealth.