Your MedTech works. The right funding route determines whether it scales.

UK MedTech funding spans grant bodies, strategic investors and trade buyers, each demanding a different pitch and evidence base. Most companies approach the wrong route first, losing time they cannot recover.

steps: 7; steps
to start: 1 week; to start

The short answer

Match the money to the milestone. Grants such as Innovate UK, NIHR i4i and SBRI Healthcare suit technical and evidence milestones; angels and EIS or SEIS investors suit early commercial proof; venture and strategic investors want repeatable revenue. Decide the next milestone, cost it, then approach only the funders who back that stage.

7 steps

Do it yourself: step by step

0 of 7 done

Write the one milestone that most increases your value: regulatory approval, a UK evaluation, first ten paying customers, or repeatable sales. Cost it with 20% contingency and add six months of runway
Time
1 week
Typical cost
£0
Who does it
Founder and finance lead
Done when: One-page milestone plan with total funding required
Technical or evidence milestones: Innovate UK competitions, NIHR i4i, SBRI Healthcare. Early commercial: angels, angel networks, EIS and SEIS funds. Scale: healthcare venture funds, strategic investors such as larger medtech companies or provider groups. Check open competitions and deadlines directly with each funder
Time
1 to 2 weeks
Typical cost
£0
Who does it
Founder
Done when: Shortlist of routes with eligibility and deadlines
If raising from UK individual investors, apply to HMRC for advance assurance before you raise. It is optional, but many angels expect it. Take advice from an accountant on eligibility
Time
4 to 8 weeks (Solvable estimate; HMRC does not publish a fixed time)
Typical cost
£0 to £3,000 adviser fee (Solvable estimate: a few hours to a day of an accountant's time)
Who does it
Founder with accountant
Done when: Advance assurance letter received

This problem is Solvable.

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Funding route matcher and investor tracker

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Table

Part 1: Match the route to your milestone

Your next milestone	Best-fit routes	What they want to see	Typical time to money
Prototype to validated device	Innovate UK competitions, NIHR i4i	Unmet need, technical plan, team, clinical partner	6 to 12 months from application
UK evaluation or NHS adoption test	SBRI Healthcare, NIHR i4i, Health Innovation Network support	Defined NHS problem, evaluation plan	6 to 12 months
First paying customers in independent sector	Angels, angel networks, SEIS and EIS funds	Early sales, pricing, credible team	3 to 6 months
Repeatable sales and expansion	Healthcare venture funds, strategic investors	Revenue growth, retention, sales efficiency	6 to 9 months
Exit or partnership	Trade buyers	Strategic fit, evidence, market position	6 to 18 months

(Timings are Solvable estimates. Always check current competitions and eligibility with each funder.)

Part 2: Milestone plan

Milestone: [ ]
Date: [ ]
Cost to reach it: £[ ]
Contingency (20%): £[ ]
Six months runway after milestone: £[ ]
Total to raise: £[ ]

Part 3: Funder tracker

Funder	Type	Stage	Cheque size	Healthcare portfolio	Contact	Warm route	Status	Next step
[ ]	[Grant / angel / VC / strategic]	[ ]	£[ ]	[Yes / no, examples]	[ ]	[ ]	[ ]	[ ]

Part 4: Data room contents

Deck (investor version)
Financial model with assumptions tab
Cap table
Regulatory status and roadmap
Clinical and economic evidence summary
Pipeline with named accounts and stage
IP summary
Team and advisers
SEIS or EIS advance assurance letter

Avoid these

Common mistakes

Sending a venture deck to grant funders and a grant application to investors.
Raising for 'growth' without a costed milestone.
Approaching generalist investors with no healthcare portfolio, who struggle with sales cycles and regulation.
Letting fundraising drag over a year while sales stall.
Raising from UK angels without SEIS or EIS advance assurance in place.

Free personal check

Done by Paul Robinson, not software

I'll read your pitch deck as a funder would and tell you which funding route fits your next milestone

What I need from you

Your current pitch deck (PDF or PowerPoint)
Your next milestone in one line
How much you plan to raise

What you get

Whether the deck matches the route you are pursuing
The three gaps a funder will spot first
Which grants or investor types to approach

Within 2 working days

No sign-in, no sales call. I read every request myself and reply on WhatsApp.

Free tools

Check where you stand

Your illustrative estimate

£150,000

Solvable estimate. Rounded to the nearest £500. Updates as you type.

Monthly burn

Starting figure £60,000 (from £60,000 (Solvable estimate: a team of about eight plus overheads)). Change it to match your practice.

Extra months fundraising

Starting figure 4 (from 4 (Solvable estimate)). Change it to match your practice.

Founder days lost

Starting figure 60 (from 60 (Solvable estimate: most of the founder's selling time over four months)). Change it to match your practice.

Revenue per founder sales day

Starting figure £1,000 (from £1,000 (Solvable estimate; use your own)). Change it to match your practice.

Share recoverable

Starting figure 50% (from 50% (Solvable estimate: a matched route and a tight process can cut the extra time by about half)). Change it to match your practice.

Formula

[(monthly burn × months of extra fundraising time) + (founder days lost from selling × revenue per founder sales day)] × share recoverable with a tighter process

Variables and defaults

monthly burn: £60,000 (Solvable estimate: a team of about eight plus overheads)
extra months fundraising: 4 (Solvable estimate)
founder days lost: 60 (Solvable estimate: most of the founder's selling time over four months)
revenue per founder sales day: £1,000 (Solvable estimate; use your own)
share recoverable: 50% (Solvable estimate: a matched route and a tight process can cut the extra time by about half)

Defaults only. Change them in the calculator to use your own numbers.

Assumptions and defaults

monthly burn = £60,000 (Solvable estimate: a team of about eight plus overheads)
extra months fundraising = 4 (Solvable estimate)
founder days lost = 60 (Solvable estimate: most of the founder's selling time over four months)
revenue per founder sales day = £1,000 (Solvable estimate; use your own)
share recoverable = 50% (Solvable estimate: a matched route and a tight process can cut the extra time by about half)

Solvable estimate. Runway used while the round drags plus sales the founder could not do is about £300,000 with defaults (£240,000 + £60,000). The recoverable share is about £150,000; treat it as £100,000 to £200,000.

Benchmarks

SEIS and EIS advance assurance
Companies can ask HMRC to confirm in advance that a share issue is likely to qualify for SEIS or EIS
Source: HMRC, Venture capital schemes: apply for advance assurance
15 Health Innovation Networks
Regional NHS bodies in England that support evaluation and adoption, and promote SBRI Healthcare competitions
Source: The Health Innovation Network

Paul Robinson

14 years in UK private healthcare

I solve this one for healthcare companies

Want a hand? I'll look at your situation and tell you the three things I'd tackle first.

A few quick questions, about two minutes. I read every one myself and usually reply the same day.

No sales call unless you ask for one. Just a straight answer from me.

I reply personally, usually the same day.

Questions

Frequently asked questions

Should we go for grants or equity first?

Grants if the next milestone is technical or evidence based and you can wait 6 to 12 months. Equity if you need speed or commercial scale.

Do grants need match funding?

Often yes, depending on the competition and company size. Check each competition's rules.

What do healthcare investors ask about most?

Sales cycle length, who pays, regulatory status, evidence and how you will reach repeatable sales.

How long does a round take?

Plan for six to nine months from preparation to cash (Solvable estimate). Start before you have less than nine months of runway.

Should we talk to strategic investors early?

Yes, as partners and customers first. Their investment usually follows a commercial relationship.

Is this tax or investment advice?

No. This is general information. Take advice from a qualified accountant on SEIS and EIS, and from a lawyer on investment documents.

Last reviewed: 30 October 2026

Sources

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The short answer

Do it yourself: step by step

1Define the next milestone1 week · £0

2Match the route to the milestone1 to 2 weeks · £0

3Check SEIS or EIS advance assurance4 to 8 weeks (Solvable estimate; HMRC does not publish a fixed time) · £0 to £3,000 adviser fee (Solvable estimate: a few hours to a day of an accountant's time)

4Build a target list of 40 to 60 funders2 weeks · £0

5Prepare the data room once2 to 4 weeks · £0 to £5,000 (Solvable estimate: data room software and some legal and accounting tidy-up)

6Tailor the pitch to the route1 to 2 weeks per variant · £0

7Run a tight process3 to 9 months · Legal fees £5,000 to £30,000 depending on round (Solvable estimate: lower for a seed round on standard documents, higher for a priced venture round)