Public Private Partnerships & Idea selection in Pharma & Life Sciences
A tool to select technological healthcare innovation ideas
Innovation in healthcare so far has tremendously contributed to longevity and quality of life of people. One of the consequences is an ageing population with substantial medical needs that puts financial pressure on existing healthcare systems. Technological healthcare innovations can aid in containing this rising expenditure. However, the development of these innovations is expensive, risky, and subject to regulatory barriers. As a response, Public Private Partnerships (PPP) emerge which gather, share and allocate resources more efficiently.
In their efforts to create the innovations needed at a sustainable cost, while mitigating development related risks, we have noticed that PPPs struggle in identifying and selecting the innovation ideas with the highest success potential. The fundamental difference in the way private organisations and PPPs are structured make existing tools designed for guiding such a selection process inapplicable. In other words, PPPs are ‘left in the dark’ when it comes to selecting promising innovation ideas.
As a solution, we have developed a new tool to offer guidance to PPPs currently facing challenges during the selection of technological healthcare innovation ideas. The tool presented in this publication aims to offer a holistic approach during the selection process by highlighting the most important criteria to be taken into account.
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