At Stadium Workspace, part of Sheffield Olympic Legacy Park, we’re building a community of businesses working at the intersection of innovation in sport, health and wellbeing – from early-stage companies through to SMEs and scaling businesses.
And when it comes to securing investment, there are many things to factor into your thinking and approach. In sports, health and med tech, investors aren’t just backing ideas, they’re backing evidence, credibility, and the ability to navigate complex public sector systems like the NHS.
Here are some of the key lessons from across the sector, underpinned by insights and experiences of leaders and founders.
1. Evidence beats vision
Investors consistently prioritise proof over promise in this space. Whether you’re developing a digital health platform or performance technology, investors are looking for:
- Clinical or real-world validation
- Pilot data
- Demonstrable outcomes
At Stadium Workspace, founders are uniquely positioned to build this evidence through access to clinical, academic and elite sport environments across the wider Park.
Top tip:
Focus early on generating credible, real-world data, not just technical validation and market demand.
2. Show a clear route to adoption (especially in the NHS)
One of the biggest barriers to investment in UK health tech is uncertainty around how innovation gets adopted.
According to NHS England: “The NHS is committed to accelerating innovation, but adoption requires evidence of clinical effectiveness, value for money and system alignment.” (Source: NHS England – Innovation and Technology Payment programme guidance)
Health and med tech innovators need to be well versed in current NHS priorities, currently the three key shifts outlined by Health Secretary, Wes Streeting. This – as emphasised by Yorkshire and the Humber’s Health Innovation CEO Richard Stubbs – is where the “warmer conversations will be. Innovators must understand not just the problem they’re solving, but the system they’re trying to solve it for.”
For investors, this translates into a simple question: How does this actually get used, and paid for? Startups that can answer that clearly are more likely to secure funding.
Top tip:
Map your pathway:
- Who is the buyer?
- What budget does it come from?
- What evidence is required?
3. Traction looks different in this sector
In health tech, traction isn’t about vanity metrics, it’s about integration into real systems.
That means traction might look like:
- A pilot with an NHS Trust
- A partnership with a healthcare provider or sports organisation
- Evidence of repeat or embedded use
Sheffield-based medtech innovator, Tend, has penetrated the US elite sports market, and its pain relief device is widely used in the NFL (National Football League) and MLB (Major League Baseball). With this high-profile evidenced use, the company has been able to deprioritise public-sector adoption, as they explained in a recent interview: “The barriers to accessing the NHS are quite high, so it’s not our top priority right now.”
Top tip:
Position traction as proof of adoption, not just growth.
4. Ecosystems accelerate investment readiness
Place plays a bigger role than many founders expect, especially in sectors that rely on testing, validation and partnerships.
The Advanced Wellbeing Research Centre, based at Sheffield Olympic Legacy Park, was established specifically to bridge the gap between research, industry and real-world application.
Its mission emphasises: “Transforming lives through innovations that help people move.”
For startups, being part of this kind of ecosystem means:
- Faster access to validation environments
- Stronger partnerships
- Greater credibility with investors
Top tip:
Don’t underestimate the value of where you build your business.
5. Think beyond venture capital
In UK health and med tech, funding is often layered and strategic.
According to Innovate UK: “Grant funding can help businesses develop and de-risk innovations, making them more attractive to private investors.”
Many successful startups combine:
- Grant funding
- Research partnerships
- Early-stage investment
This approach allows founders to build evidence before scaling.
Top tip:
Use early funding to de-risk your proposition, not just grow it.
6. Tell a story investors recognise
Even in highly technical sectors, storytelling matters.
Investors rely on pattern recognition, backing companies that clearly articulate:
- The problem
- The solution
- The path to scale
It’s also crucial to remember that funders are humans and are likely to ‘invest in what they know’. This can be particularly beneficial in the health and med tech space, where human stories of life changing innovation can really strike a chord.
Top tip:
Make your story easy to follow (Why this, why now, and why will it work?) and clearly illustrate the impact your solution can have on lives.
Final thought
Securing investment in sports, health and med tech isn’t just about raising capital, it’s about building confidence.
- Confidence that your product works.
- Confidence that it will be adopted.
- And confidence that it can scale in complex, real-world systems.
Successful founders in this space will be thinking about satisfying these points from day one. Surrounding yourself with an ecosystem designed for testing, validation and connections will help you to build that confidence, quickly. Find out more about Stadium Workspace and the surrounding facilities at Sheffield Olympic Legacy Park, here.
