Published date: 20 January 2023
Awarded contract - This means that the contract has been awarded to a supplier.
Contract summary
Industry
Business and management consultancy and related services - 79400000
Location of contract
North East
Value of contract
£30,000
Procurement reference
NCL001-DN637490-76293014
Published date
20 January 2023
Closing date
2 November 2022
Closing time
12pm
Contract start date
6 January 2023
Contract end date
30 June 2023
Contract type
Service contract
Procedure type
Restricted procedure
A two-stage procedure, where the first stage is used to select suppliers, who are then invited to bid in the second stage.
Contract is suitable for SMEs?
No
Contract is suitable for VCSEs?
No
Description
At 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 £27,000 per patient in additional healthcare resources and more than £100,000 in wider economic costs. The total UK cost is more than £250m 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 £300k 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 above
Award information
Awarded date
4 January 2023
Contract start date
6 January 2023
Contract end date
30 June 2023
Total value of contract
£30,000
This contract was awarded to 1 supplier.
Giles Wilson
Address
Giles Wilson
Compton Beeches
Hurdle Way
Compton
Hampshire
United Kingdom
So21 2anReference
None
Supplier is SME?
Yes
Supplier is VCSE?
No
About the buyer
Contact name
Natalie Morton
Address
Newcastle University
Procurement Services, Kingsgate
Newcastle
NE1 7RU
United Kingdom
Telephone
+44 1912086396
Website
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Closing: 2 November 2022, 12pm
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