Datafox is a specialist in Medical Technology related R&D Tax Credits
Datafox is an expert in making effective R&D Tax Credit claims for those within the Medical Technology Industry
Looking for a great funding solution?
The medical technology industry is one of the largest, fast-growing industries in the UK right now. Consisting of a booming ecosystem of researchers, scientists, medical doctors, engineers and designers, the medical tech sector heavily invests money, time, and talent into conducting pioneering research and development that can lead to innovation in medical devices and diagnostics. The industry generates a turnover of approximately £21bn and includes almost 4000 businesses. Research in this sector is mainly focused on leveraging the power of technology to improve existing diagnostics or develop new ones. Whether it is medical imaging, digital health, in vitro diagnostics, or drug delivery, all areas within the medical technology sector are driven by innovation brought about by extensive R&D.
Even though the UK is the third-largest market for medical technology and has the highest number of skilled engineers and scientists in Europe, businesses in this industry are not fully aware of all the funding channels open to them. Developing a new product, service, technology, or software in medical technology can take a long time and cost substantial amounts. Moreover, innovation in this sector often needs to pass through stringent clinical trials, regulations, and legislation before it can be launched into the market. Having a way of gaining some cashback or tax relief during the process can help recoup some of the capital that was spent on R&D and other activities related to that. R&D Tax Credits are designed to help businesses, particularly SMEs within the medical technology sector, receive funding for their ground-breaking work. To qualify, your R&D could be focused on any of the following:
- Development of new and improved prototypes
- Clinical trials of up to Phase 3
- Innovative hardware and software development and integration
- Development of technology or devices that reduce surgery and recovery time
- Increasing the efficiency of existing devices and processes
- Improving the accuracy and capability of medical analysis
- Conducting tests to check and satisfy regulatory and legislation requirements
Why Choose Datafox for Medical Technology related R&D Tax Credit Claims
Datafox has the best team of experts who can prepare and process R&D Tax Credit claims successfully. We work on a No-Win-No-Fee basis and charge NO UPFRONT COSTS. Our team will thoroughly understand the scope of R&D within your business and identify all the opportunities for claiming R&D Tax relief so you get maximum potential pay-out for your innovation within a few weeks.
Innovative Medical Technology
With the constant development occurring in the medical technology sector, businesses are likely to be able to claim values in the range of thousands to millions. You’d be surprised to learn what could qualify for R&D Tax Credits. Regardless of which stage of research, production, development or processing your business operates in, our R&D Tax experts will be able to help maximise the claim for your innovation and get you the funding you deserve. Ready to talk with our specialists? Get in touch!
Ready to apply?
If you’re ready to apply for your R&D tax refund, please call us on the freephone number below or use this contact form and one of our helpful team will be in touch to help.
By completing the above contact form you consent that Datafox can contact you with regard to an R&D Tax Credits claim and use your details during any future claims.
Stuff you need to know
Find out how DataFox recently helped Five Dot Botanics receive funding for their innovative cosmetics through the R&D Tax Credit scheme.read more
Learn how R&D is driving innovation in the motorsport industry and other important sectors.read more
Find out how small businesses can benefit from the government’s R&D Tax Credit Scheme.read more
SKNHEAD Case Study – Impossible Made Possible
Innovation and versatility are not easy to achieve when it comes to cosmetics, but SKNHEAD managed to attain both in their exclusive range of unique male skincare and grooming products. Developed with tireless precision by celebrity hairdresser Adee Phelan, the SKNHEAD range includes a variety of grooming essentials for men such as a shampoo, styling clay, a toner, hair pomade, a hair styling spray, a foaming cream and the most cutting-edge 4-in-1 skin moisturising and hair treatment cream designed to work on tattooed skin, face, beard and hair.