Innovate UK, an executive non-departmental public body fostering innovation in the UK economy, has announced that it is offering up to £8 million to UK businesses to develop new and novel digital healthcare solutions, CoinDesk reported.

According to the official announcement, the competition is being run under the digital health technology catalyst, which is part of the Industrial Strategy Challenge Fund. It aims to support the development of digital health products that meet NHS needs.

The competition kicks off today, 31 July 2017, and will conclude on 11 October 2017. The innovation agency said that the types of digital health projects it will fund include (but are not limited to):

“…emerging digital health technologies with a demonstrated healthcare benefit, such as artificial intelligence, machine learning, augmented reality, blockchain and the Internet of Things…”

In April 2016, Innovate UK awarded £248k to Tramonex that is developing an Ethereum-powered cross-border payments tool. Other blockchain projects funded by the agency include provenance.org and Electron.

In addition, Innovate UK last year launched a competition focusing on distributed ledger technology, with an award of up to £15 million to competing companies.

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