📑(NU/1433- 41) IngeniumAI: The Provision of Business Consultancy to Assist Commercialisation of University Research.
Procurement process summary
This process is to purchase (NU/1433- 41) IngeniumAI: The Provision of Business Consultancy to Assist Commercialisation of University Research.
This contract was awarded by 🇬🇧 Newcastle University for an amount of GBP 30,000 to 1 supplier. It was published on 2023-01-20 through selective
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
Buying entity🇬🇧 Newcastle University Buying unitnot reported Publication date2023-01-20 Contest statusnot reported DescriptionAt IngeniumAI we aim to address the unnecessary delays in disease diagnosis. Currently the diagnosis of many diseases takes far too long. For example, to receive a diagnosis the average pulmonary hypertension (PH) patient has 5.3 GP visits and 3 referrals, taking on average 2 years, 2 months. By this point treatment options are severely limited. If left untreated the average time to mortality is only 2 years, 6 months. Delays in diagnosis of PH are estimated to cost more than PS27,000 per patient in additional healthcare resources and more than PS100,000 in wider economic costs. The total UK cost is more than PS250m per year, most of which could be eliminated with early screening. Globally these delays cause approximately 300,000 unnecessary deaths per year. We are responding to the opportunity by developing software to automatically analyse routine CT scans to enable early screening for diseases. The initial brief of the executive will be to: Phase 1 Produce a viable 5 year business plan and propose a business model with full supporting financial models and forecasts; Phase 2 Secure (venture capital and other) funding. We have been awarded PS300k from Innovate UK to fund activities within the business for 1 year from January 2023. The grant is paid 3 months in arrears and we will require sourcing of operating capital from January 2023 to facilitate the grant. Phase 3 a. Act for the company in the spin-out legal process to obtain university approval b. Address all company formation matters Phase 4 a. Obtain founder academics' and University approval for appointment as CEO. b. Provide to the appropriate university all matters necessary for reporting requirements Phase 5 Secure the funds by which the new start-up company can consider employing the executive going forward. It is expected, and the intent of the scheme, that the Executive will remain with the business following the end of the contract period. However, such appointment will be at the discretion of the board and appropriate university and will be subject to confirmation, typically at Stage 4 aboveAwards
This award was granted to Giles Wilson by Newcastle University for an amount of GBP 30,000. The procurement process was conducted through selective for the category of services. The award was granted on 2023-01-04. This is award number 1.
| Supplier | Amount | Award date | Award number |
|---|---|---|---|
| 🇬🇧 Giles Wilson | GBP 30,000 | 2023-01-04 | 1 |
Market context and opportunities
The execution of this contract allows the entity Newcastle University to fulfill its public service objectives efficiently.
The selective purchase modality ensures that the process is transparent and compliant with regulations.
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
This transparency in public procurement promotes fair competition, prevents corruption, and ensures that public resources are used efficiently for the benefit of citizens.
Additional data
Contract NumberUK_ocds-70d2nz-9251a741-f5dd-4edb-88fa-6d5452b562bc-award-1Publication date2023-01-20Contract datenot reportedAward date2023-01-04CategoriesservicesPurchase modalityselectiveMethod detailsRestricted:RestrictedStatusnot reportedData sources
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