eHEALTH, as one of the leading health magazines focusing on the convergence of all stakeholders operating in the Indian healthcare ecosystem, has always been fascinated by the entire concept of ‘Start-Ups’ & the business of lending financial support to start-ups with their ‘out-of-the-box’ ideas and innovations capable of bringing complex medical treatments or procedures at doorsteps, or better to say at our fingertips. We have been keeping close watch on start-ups, especially those that stand out because of their long-standing goals and well-researched business models that can fetch results and excellent customer experience. Therefore, when our Chief Executive Office Ravi Gupta categorically instructed us to visit ‘TechEmerge Health Innovation Summit’, we were all excited to become part of this event that has the potential to become a trendsetter in the entire healthcare ecosystem. Here, Assistant Editor Kusum Kumari presents the details of the event.
International Finance Corporation (IFC), a member of the World Bank Group offering lasting solutions for development, on June 15 kicked of the first-of-its-kind TechEmerge Health Innovation Summit in the capital city New Delhi of India to ensure matchmaking between the technology companies from around the world with the corporations in the emerging markets.
Understanding TechEmerge Health Innovation Summit
- Part of the pilot phase of IFC’s TechEmerge programme
- Aims to catalyse the adoption of innovative technologies in emerging markets by bringing technology innovators & healthcare providers together with a goal to improve healthcare delivery and patient outcomes
- Total Footfall: More than 200 people attended the summit, including CEOs and senior representatives from Indian healthcare providers, CEOs/founders of health tech companies, strategic partners in the healthcare ecosystem and development partners. Over 20 Indian healthcare providers attended the event; their facilities serve regions across India with over 50,000 beds in 400 locations. They ranged from multi-specialty hospital networks to specialized clinics and labs in rural and urban areas and cut across a broad spectrum of disciplines, including cardiology, oncology, nephrology, and ophthalmology, among others.
- Selection: Companies were selected out of over 320 companies from 29 countries. Selection was done by the IFC together with its external advisory network.
- Demos: Participants had the chance to see demos of best-in-class innovative tech products, and hear from industry leaders.
- Partners & Supporters: The event was partnered by NATHEALTH. The TechEmerge Program is being implemented in partnership with the Finnish Ministry of Employment and the Economy, and the Israeli Ministry of Economy and Industry, and is supported by Health 2.0.
- Building Bridge, Building Business: More than 100 one-on-one matchmaking meetings between healthcare providers and health tech companies are taking place, which are expected to lead to several new commercial partnerships.
- Fund: IFC has a pool of $1 million available to support the implementation of pilot projects. IFC has an investment portfolio in the Indian healthcare sector with commitments of over $450 million, representing over 30 per cent of its global healthcare investment portfolio. This includes investments in companies, such as Max Healthcare, NephroPlus, Eye-Q Vision and Portea, to help them expand services in India.
Overview – Demos by Selected Technology Companies
- Lightning Demos: Point of Care Diagnostics – In the first session of the demo, Ceeable, EwaveMD, iSTOC, Mobile ODT & Tricog presented their solutions. This was followed by a Q&A session moderated by Ruzgar Barisik, Senior Investment Officer, IFC
- Lightning Demos: Patient Engagement Tools – Diabetacare, Noona Healthcare, mfore, Moving Analytics & Welldoc presented their solutions. This session was followed by a Q&A session moderated by Nikunj Jinsi, Global Head Venture Capital Group, IFC
- Lightning Demos: Tools for Providers – Admetsys, Chatr-Health, Guidevue, Northgate & Vios Medical presented their solutions. This was followed by a Q&A moderated by Selcuk Tanatar, Head Strategic Business Solutions, IFC