LONGITUDE PRIZE: PART 9: WHO WILL FINANCE?
PART 9 WHO WILL FINANCE? At time of submission for the LP, applicants will have a design-locked prototype intended for regulatory approval, and so the bulk of product development will have been financed (although any remaining debt to be financed will be factored into the CP). The CP submitted for the LP will be expected to provide a clear picture of how costs will be addressed across three major categories: ✓ Cost of manufacture & scale-up. ✓ Market readiness, entry costs and distribution. ✓ Direct costs in accessing and using the product. Where some aspects, such as distribution, will not be the responsibility of the applicant, this should be stated and the alternative mechanisms (e.g. existing health service mechanisms) briefly noted.
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