Sambiogen, a Nottingham, UK-based company focused on the development and application of novel tests that will assist in diagnosing diseases commonly seen in an ageing population, such as cancer and arthritis, has received a £20,000 Proof of Market Grant from East Midlands Development Agency (emda).
The funds will be used to investigate the market potential for developing tests using DNA, which will enable the early detection of two of the most common cancers. The company will conduct an initial technical and market assessment, to provide a catalogue of evidence that can be used to gain further investment into the business.
If the outcomes of the project are positive, the company will look to develop tests and screening programmes.
The Proof of Market grant assists small and medium-sized businesses (SMEs) to test the commercial potential of an idea for an innovative product or process, through methods such as market assessment, research, competitor analysis and patent reviews. The grant can be between £5,000 and £20,000, and covers 60% of costs up to a 9 month period.
It is part of emda’s Grant for Research and Development (GRD), which helps businesses carry out research and development work that will lead to technologically innovative products or processes. This Grant is a Department for Business, Innovation and Skills business support product managed by the Regional Development Agencies and part funded by the European Regional Development Fund (ERDF).