Future Care Capital Innovation Fund
In pursuance of our charitable mission we will deploy our resources to identify and support innovation through the launch of a dedicated investment fund.
From our research we have concluded that whilst there is funding available the funding landscape today lacks an impact focused specialist seed funding investor for health and social care.
Our mission is to create this fund and to invest in early stage, innovative ventures with potential for significant impact on:
We see a strong affinity between our policy and advocacy work and investing in innovation; from the policy side providing policy insight, knowledge and best practice sharing, and shared facilities, which will support and enable ventures to achieve high impact on care and health outcomes and evidence new models of working.
The growing demand for health and social care, driven by multiple factors including demographics, faces challenges when mapped against existing capacity and funding models. At the same time, the public expectation regarding standards and quality of care has risen, with new quality bodies pursuing this on behalf of the public.
Innovation in health and care over the last 50 years has been very successful, raising life expectancy by 15%. Clinical and pharmaceutical innovation has been at the forefront of this. But these innovations have increased demand and cost in the care and health system, to a point where new logic is required to ensure its continued success.
A new wave of innovation in health and social care is needed that delivers high quality not higher cost. In the NHS alone £22bn of productivity gains need to be found in the next 5 years.
Many of the solutions to this challenge will be non-medical (i.e. non-pharmaceutical) and create value through innovation in:
- New service design and solutions;
- the application of advances in information and communication technology;
- effective business model and financing; and
- education, training and workforce development.
The new wave of innovation will have the benefits of:
- Being kinder to service users who are healthier with less acute and emergency care need;
- tackle exclusion so that everyone is cared for;
- lower capital intensity from the Research and Development market; and
- leverage the scale of resource from across the private, public and social sectors in creating a new generation of solutions across a ‘continuum of care’.
Such investment is needed to fund new innovation and address a gap in the market for non-medical health and social care venture at seed funding stage. It will support their development and the best will scale up and aim for significant societal impact. We will invest in enterprises based on their potential for positive societal benefit not legal form.