Janssen Healthcare Innovation and the NHS have partnered to launch the Innovation Challenge Prize for Dementia.
The biopharma company, a subsidiary of Johnson & Johnson, will award up to £150,000 for solutions that make a lasting difference to the lives of people suffering from dementia.
As a first step, people involved with dementia care as healthcare providers, carers, patients and patient groups are being encouraged to identify the key issues in diagnosis, treatment and management of the condition.
Once the challenges have been agreed, relevant stakeholders will be able to submit innovative solutions to be assessed by a panel of experts from the NHS, industry and academia.
The ageing population is driving up the incidence of dementia in the UK: the terminal condition is estimated to affect 800,000 people, with the cost of NHS care predicted to rise from £23bn to £28bn by 2018.
“We are delighted to be the first industry partner to support the NHS in these important innovation challenges,” said Marco Mohwinckel of Janssen Healthcare Innovation (pictured).
“We hope this initiative will help identify forward-thinking solutions to help transform care for people with dementia and better support their caregivers.”
The deadline for ideas to help define the key challenges is 20 March 2013.