Key points from article :
Open Bionics, a British prosthetics company, has secured £600,000 in funding from NatWest to expand its operations into the US and DACH markets. Known for developing advanced prosthetic solutions, Open Bionics plans to use this investment to open six additional clinics in the United States, making it easier for patients to access specialized prosthetic care closer to home. Founded in Bristol, the company has made a name with its Hero Arm, a robotic prosthetic arm designed for below-elbow amputees. The Hero Arm uses ElectroMyoGraphy (EMG) sensors that respond to muscle movements in the forearm, allowing users to control the device with natural gestures like pinching and grasping.
The manufacturing process relies on 3D scanning and printing, enabling personalized adjustments to fit and ventilation. This approach has allowed Open Bionics to create a line of prosthetics that cater to both functional needs and personal expression, even designing superhero-themed arms for young patients. Open Bionics' prosthetics, including the Hero Arm and waterproof Hero Flex, are accessible through the NHS in England, Wales, and Scotland, available to those who meet specific criteria.
The funding from NatWest reflects an innovative approach to supporting scale-ups by accepting intellectual property (IP) as collateral. This model benefits companies with intangible assets, such as patents and trademarks, that often struggle to secure traditional loans. According to NatWest, IP-intensive sectors generate around £300 billion annually for the UK economy. Samantha Payne, Open Bionics’ co-founder, expressed excitement about the expansion, highlighting the positive impact on patient care. This funding not only fuels Open Bionics’ growth but also underscores the potential of IP-backed finance to empower tech-driven companies and boost economic innovation.
