Earlier this year, Nami secured £700,000 of grant funding from Innovate UK’s Biomedical Catalyst Grant. As the UK’s national innovation agency, Innovate UK helps companies like ours to innovate, develop new products, and bring them to market through funding, signposting, and its wider ecosystem of support organisations and resources. The process wasn’t easy, but with the help and support of Scottish Enterprise International Collaboration and Innovation Specialist, Ulrike Knies-Bamforth, we successfully secured the funding with our first submission.  

The Biomedical Catalyst Grant  

It’s common knowledge that the most innovative and groundbreaking technologies are often the most research intensive. And research and testing costs money. The Biomedical Catalyst Grant aims to support start ups and SMEs in three key ways:  

• Get potentially game-changing technologies to market quicker. 

• De-risk early-stage innovations by providing vital funds. 

• ‘Catalyse’ private investment alongside the grant funding. 

Innovate UK is part of UK Research and Innovation, and the grant is therefore funded by UK Government. The overall success rate for those who applied for the grant was 7% – highlighting the effort that went in to secure the funding with the first application.  

The application Process 

Initial application
The initial application itself was formed around 10 questions which gave the judging panel a thorough understanding of the technology, the business, and the degree of research, development, and support required to get the product to market. With a scientific background and experience of publishing, Ulrike provided additional insight into what each answer should demonstrate, and how to answer the questions in such a way that was clear and concise. 

Through consultation with other experts, the initial application was refined and submitted, pending feedback to reach the next stage.  

Interview stage 

Upon successful review of the application, Co-founders Nico and Rebecca were invited to interview. The judging panel probed the application and critiqued it, leaving the team with a number of questions to address with one final submission.  

Rebecca commented on Ulrike’s support throughout the entire process:  

“Ulrike’s scientific background, and knowledge of the support ecosystem of MedTech startups has been absolutely vital to the success of our fundraising efforts. Beyond her expertise, she has been a patient and supportive coach- the results of which have been absolutely transformative for our business.” 

What it means for Nami 

Ulrike commented on the application process and the team’s approach:  

“Besides having a truly innovative product, the qualities within the Nami team were pivotal to their success.  

Rebecca was so diligent in her approach, dedicating herself to learn the nuances of Innovate UK’s application process and applying this throughout every step of the process- on top of her own technical expertise. As well as this, Nico’s thorough knowledge of the market and the work he’s put in to understand the landscape truly sets the company apart and will continue to do so for years to come.” 

The grant funding was secured alongside a further £2.5 million of equity investment led by St Andrew’s based firm EOS Advisory alongside the Investment Fund for Scotland.  

The funds have allowed our team to move to new headquarters, complete with a cutting-edge R&D prototyping lab, and expansion of the team to accelerate product development and testing.  

This funding has also enabled Nami to push forward in our research and development efforts, bringing the miniature ultrasonic scalpel platform closer to commercialisation and use in the surgical field. This grant has been pivotal in supporting each and every one of our efforts, not only in advancing the ultrasonic scalpel technology but also in developing a new electrical driving system for these devices, enhancing precision and functionality in robotic applications.