The most important reward for the winner of the MEDICA App Competition is certainly the global awareness created at MEDICA as well as through MEDICA means.
In addition the solution ranked number 1 will be rewarded with EUR 2,000, the number 2 with EUR 1,000and the number 3 with EUR 500.
Our partner SXSW grants two (2) ‘SXSW 2018 Interactive badge registrations’ worth USD 1,325 per pass to the winning team for accessing the cult event SXSW 2018 in March 2018 in Austin, TX (USA).
Our partner Startupboothcamp (SBC) Digital Health sponsors following vouchers for the top 3 places:
– 1st price winner gets one (1) exclusive ticket to attend SBC Masterclass in Berlin during the next SBC Health program
– 2nd price winner gets a SBC mentoring dinner in Berlin
– 3rd price winner gets 1 hour of SBC online mentoring
For the first time, 20 start-ups up to 3 years old will get a chance to present themselves to the visitors throughout the duration of the fair. Don’t think twice about meeting key industry players from Siemens, Philips, Mindray, Toshiba, Compugroup Medical and many more. A pitch at MEDICA CONNECTED HEALTHCARE FORUM. is included in the price of a spot at the MEDICA Start-Up Park. More info here.
Meet the current supporters and ambassadors of the organisation.
Future For Health (FTR4H) is continuing its mission to become a Global ThinkTank on Digital Health. We’ve presented the organisation at different World of MEDICA Trade Fairs in Germany, India, China, we’ve been at SXSW in the USA. We keep partnering with experts in digital health from different countries. These are our current evangelists, some of them also this years jurors of MEDICA App Competition, which you are welcome to apply to by 30th September.
FTR4H will be located at USA Pavilion at MEDICA 2017. It will also feature a FTR4H LAB showcasing innovators and visionaries in this field.
Mark Wächter, Entrepreneur
Mark Wächter is marketer with many years professional and leadership experience in the areas of Consumer Goods, Internet and Mobile Communications. In May 2005 he founded MWC.mobi, a worldwide active management consultancy focusing on Mobile Strategy Development and served clients in over 30 countries on all continents in the past years.
Mark is head of the Mobile Marketing Association (MMA) in Germany (locally known as BVDW Section Mobile) and member of MMAs Board of Directors. He is co-founder of MobileMonday and chairs the advisory board of Germany’s first Master Degree Program in Mobile Marketing at Leipzig School of Media. Mark is a Mobile Aficionado since the very beginning and became a globally well respected Mobile Media Evangelist and Strategist aka ‚Mr. Mobile‘, acting as advisor and mentor on many Mobile Initiatives. In December 2015 Springer Gabler published his book ‚MOBILE STRATEGY‘. This has been chosen as basic compendium for the charismha study on Mobile Health Apps.
Digital Health is a core competency of Mark. He organizes the world’s largest Medical Mobile Solutions award, the annual MEDICA App Competition. In May 2016 he co-initiated the global Digital Health Society, FTR4H, and since then acts as the Chief Evangelist of this platform. So far, FTR4H launched in China, Europe, India and the USA.
Maren is a storyteller and communicator by heart. She supports several startups and women in tech in establishing strong marketing campaigns to create a successful brand and support sales.
As an advisor and business development expert for Israeli startup VoiceItt, Maren is in close contact with investors, she pitches on stage to win competitions and supports the team of 12 that is spread over three continents, in scaling up in Europe their voice and voice-pattern recognition software for people with speech impairment suffering from diseases such as ALS, Alzheimer, strokes or paralyzation.
In February 2016, Maren also joined the team of etventure Startup Hub, a small team of startup experts that brings entrepreneurs and corporates together to form strategic partnerships. At etventure Startup Hub, she is also the Communications Manager for several EU-funded programs such as Accelerator European Pioneers, Welcome and the new IoT European Platform Initiative.
Dr. Klaus Stöckemann, Venture Capitalist
After obtaining his PhD in biology and pharmacology, he had held several leading positions in research and development and business development with companies like Schering AG and ASTA Medica. He later became a partner in a leading international investment firm 3i and in 2009 he co-founded Peppermint Venture Partners, which specializes in investments in Digital Health and Medical Devices. He is the Chairman of the board of several young companies such as Caterna Vision GmbH, which develops digital therapies for treating eye disorders and Emperra GmbH, which has developed the ESYSTA® System – the first GSM and Bluetooth enabled smart insulin pen connected to a web based portal, enabling web-based telemedical closed-loop management system for patients with insulin dependent diabetes mellitus type 1 and 2 and Vice-Chairman of Implandata a company having developed the first wireless sensor for measuring intraocular eye pressure in Glaucoma patients.
PVP is currently launching its second fund (PVP II) with a focus on investments in innovative solutions alongside the individual health journey at the crossroads of medical devices and digital health. PVP II aims to start investing from 2018 on.
Klaus is also a mentor of several digital health accelerators such as Startupbootcamp as well as Member of the board of the German Association of Venture Capital since 2015.
Muthu Singaram, Entrepreneur & Venture Capitalist
Muthu is a parallel entrepreneur having been involved in several startups over last 20 years. He has over 25 years of experience in Engineering, Management and Entrepreneurship, has been a judge and mentor in many business plan competitions and is a Mentor / Entrepreneur in Residence in several Universities.
Among other things, he was responsible in developing the Malaysian National Uniprenuer Development Programme (NUDP) at the Multimedia Development Corporation (MDC). He was also a council member for the National Incubator Network.
His recent major consulting assignment is for the Malaysian Government Agency (Agency Innovasi (Innovation) Malaysia) under the Prime Minister’s Office on industry driven Innovation, helping research and entrepreneurs in accessing technology and business models.
He is currently working on a Virtual international Business Accelerator aka VibaZone based in several locations. The vision is to develop and provide a virtual community of entrepreneurs or anyone wishing to participate in / building or growing a sustainable business in any area or industry. Muthu still involves himself with new startups and works with them to go to market.
He is also the author of the book Entrepreneurship: A Hands on Guide To Starting Your Business.
Tjasa Zajc, Journalist and Audience Developer
Tjasa has a Bachelors degree in journalism and a Master’s degree in health management and economics. In the last few years she focused her interest on exploring chronic diseases, healthcare systems, the digital health market and how stakeholders in these fields could be better connected to increase the speed of healthcare improvement.
She currently works for a Slovenian trade publication for healthcare professionals Medicina danes, is the host of Medicine Today on Digital Health Podcast and an Audience Developer (looking for strategies to increase reader/ subscriber retention) for its publisher – Časnik Finance, owned by the international publishing house Bonnier AB. In the past she worked for the Slovenian Press Agency and as a photographer and journalist for the weekly magazine Mladina. She has contributed to MedTech Engine – an innovative new internet portal specialized for medtech stakeholders. She is a member of the jury of this years’ Medica App Competition – the world’s largest medical app competition evaluating medical mobile solutions.
Dr. Hu Junhao, Entrepreneur
Hu Junhao is an entrepreneur with a doctorate in Photoelectric. He worked as a research scientist in Institute for Infocomm Research, and a senior optical fiber sensor expert and then founded Darma Inc. in the United States.
DARMA completed the mass production and shipment of smart cushions in 2015, and favored by Google, Apple, Aetna and other international well-known enterprises. In 2016, DARMA has sold products to United States, Britain, Poland, Singapore, Japan, South Korea and other dozens of countries.
With excellent sensitivity and medical level accuracy, DARMA Fiber Optic Sensor attracted a lot attention in the field of healthcare, and got thousands of orders in the stage of R&D.
Meanwhile, DARMA Fiber Optic Sensor attracted a lot of doctors and professors in well-known hospitals and medical school in China and US, such as Harvard Medical School, and Massachusetts General Hospital.
Dr. Ashish Atreja, Gastroenterologist & CTO at Icahn School of Medicine at Mount Sinai
Dr. Ashish Atreja is the Chief Technology Innovation and Engagement Office (C-TIE) at Icahn School of Medicine at Mount Sinai. He is the Director of Sinai Applab – a form of incubator/accelerator for testing, validating and translating digital health apps in clinical practice. The goal of Sinai Applab is to utilize data-driven Learning Healthcare System approach to become a national leader in pragmatic trials and innovative patient-centered apps and analytics.
Dr. Ashish Atreja founded the Sinai AppLab in 2012 at Mount Sinai Health System in New York City. By 2013, our first grant was awarded, closely followed by more. The Sinai AppLab now boasts extensive experience creating, implementing and evaluating technology platforms to address the needs of patients, health care providers, and researchers within the Mount Sinai Health System and beyond.
MEDICA: Undisputedly the world’s most important trade show and gathering place for the medical industry worldwide. Americans have long been a driving force behind both the quality and size of this event, on average featuring over 500 US-based companies occupying about 2 acres (or about 1½ US football fields!) of exhibit space at the Düsseldorf fairgrounds.
Over the past decade in particular, mobile, IoT and big data has emerged as perhaps the most revolutionizing dynamic in the medical industry marketplace, and the US med-tech industry not surprisingly continues to dominate the global landscape. Some industry reports suggest digital health market revenues here may surpass $150 billion within the next 5-7 years.
In tandem, FTR4H FUTURE FOR HEALTH is an international platform powered by MEDICA that has risen alongside to highlight wireless and digital technologies – showcasing and exploring how digital transformation is affecting and will continue to drive important developments in the healthcare industry.
And now for the first time, the USA Pavilion at MEDICA 2017 will also feature a FTR4H LAB showcasing innovators and visionaries in this field.
The first company to join the FTR4H LAB is Westlake, Ohio based Blue Spark Technologies, Inc. A pioneering developer of thin, flexible, printed power solutions, Blue Spark Technologies’ latest innovation, TempTraq®, is the only Bluetooth® wearable continuous temperature monitor in the form of a soft patch that can continuously and comfortably monitor body temperature for up to 72 hours, sending real-time temperature data to a Hospital’s Nurse Monitoring Stations, EHR, and Smart Devices. With TempTraq’s new TempTraq Connect HIPAA-complaint Cloud, it can also be used remotely and enable a hospital to monitor patients at home in real time.
TempTraq has been tested in the most demanding environments at leading hospitals including Cleveland Clinic, University Hospital’s Seidman Cancer Center and Akron Children’s Hospital and has been clinically proven to detect fever 30 – 180 minutes earlier than a 4 Hour SOC in trials with Bone Marrow Transplant Patients (Abstracts available upon request). TempTraq is an FDA cleared Class 2 Medical Device and by November and MEDICA, the device will be CE approved and available for both Consumer and Clinical markets in Europe.
For more information about TempTraq®, plan to visit them at MEDICA 2017 – hall 16 / stand C20-6 or contact Blue Spark Technologies / VP of Sales, Mr. John Baragar firstname.lastname@example.org
For more information about joining the FTR4H LAB in the USA Pavilion at MEDICA 2017, contact Messe Düsseldorf North America / Sr. Business Development Manager, Mr. Ryan Klemm email@example.com
Medical Fair China saw the successful launch of the FTR4H platform at the 2nd China Medical Innovation Forum in Suzhou from June 10 to 11 2017.
The FTR4H Talk & Lounge was a combination of an inviting meeting spot – where Startups, Corporates, VCs and other Digital Health aficionados mingled and discussed the Future for Health in a market like China – with a half-day session in the conference forum on the latest developments in Health-Tech.
FTR4H Talk & Lounge
The partners of the FTR4H Talk & Lounge covered the whole spectrum of the Digital Health Continuum. We had hospitals, researchers, startups and corporates sharing their latest products, services and ideas around how Mobile, IOT, AI and Data are transforming the healthcare sector.
Special focus was put on elderly care with the support of digital solutions, which is a worldwide, not only Chinese challenge. Dr. Junhua Hu, CEO of DARMA INC, a Shenzhen based Digital Health Startup grown up in the famous HAX accelerator ecosystem, rocked the stage with valuable insights and a comparison of the US and Chinese markets.
Sebastien Gaudin from the Shanghai based startup The CareVoice, explained, how close HealthTech and InsureTech are, with demoing the partnership with AXA on the field of a trusted and reliable platform to improve patient experience.
The highlight of our FTR4H inaguration in China was a Fire Side Chat moderated by Mr. Mobile and FTR4H Chief Evangelist, Mark Wächter. All participants agreed, that the Golden Age for Digital Health in China is just beginning.
FTR4H society will be back for sure at Medical Fair China in Suzhou in September 2018!
In the meantime, we will establish a network of digital health movers & shakers in China. We are proud that we won Junhua as our first FTR4H Ambassador in and for this unique market. He will start to extend the FTR4H society now – watch out 🙂
Nine startups were presented at the INFUSE Digital Health Networking Event, the first FTR4H partnership event, which took place in Ljubljana, Slovenia in May. The winning team – a Croatian startup Toothcam – will visit MEDICA Trade Fairin November 2017 in Düsseldorf as a guest startup at the FTR4H Lab&Lounge.
INFUSE Digital Health Networking Event consisted of a short conference program and presentation of digital health startups in the Balkan region. Three startups were chosen to continue discussions about their solution with experiences industry opinion leaders from Startupbootcamp Digital Health Accelerator and Bayers Grants4Apps Accelerator. The jury members were:
Dr. Jesus del Valle, Head of Bayer’s Grants4Apps Accelerator
Dr. Klaus Stöckemann, Managing Partner at Peppermint Venture Partners
Dorjan Marušič, Practicing Cardiologist, Former Member of the Panel of Experts, DG Sanco,
Stanislav Sirakov, Partner at LAUNCHub
Dr. Axel Polack, General Partner at the Joint Polish Investment fund
Alex Farcet, co-founder of Startupbootcamp – global network of industry-focused startup accelerators
Is a digitalized dental mirror for better insight and easier work for dentists. The team observed dentists suffer from back pain due to constant bending during their work. Toothcam aims at solving a problem with a camera. This reduces the need for bending and allowing easier, faster, cheaper, and better dental service by improving dentists’ vision.
GlutenTag is an app for people who do not tolerate gluten. It could pass between two hours to two days (depending on a person’s physiology) between an ingested meal with traces of gluten and the symptoms harming celiac patients. By labelling past meals / restaurants as safe / non-safe on the digestive tract of gluten intolerant person (or persons, through aggregation), the user can easily detect problematic food products.
Anti-stress clinic is an app to support stress management, mental strength and mental health.
Feelif enables blind and visually impaired people to feel on a standard touch screen. Current tools for the blind are expensive and/or one-dimensional, big, not interactive, not fun and not creative. Feelif is a standard tablet. By putting a special grid on top of the touchscreen, and installing a special app, Feelif signals to the blind person what’s beneath her fingers with the use of vibrations, sound and speech. Feelif enables the user to feel shapes/geometric functions, draw, learn Braille, exchange knowledge, watch interactive stories, play games…
Mediately is the name of a company working on an app. The doctor can check how to dose the drugs, there are any unwanted interactions with other drugs, and other aspects of care. In addition, he can use various diagnostic tools in the app to help him diagnose the condition, and then help him treat the patient.
Top three teams selected by the jury – Blaž Triglav (Mediately), Ivan Guć & Tomislav Mamić (Toothcam), Željko Khermayer (Feelif).
The Insulated Multimedia Space invention – The Awakening Room® – boosts the natural self-healing properties of the immune system with the help of a focused energy field. It solves the problem of vitality and courage in life for everyone, including the patients before and after major medical procedures.
The system supervises the physical condition of a pilot and his entire flight. In case of a problematic interference affecting the pilots piloting capabilities, the pilot gets warned about the source of the problem. After the flight, the pilot can save all the data gathered in the cloud for later analysis.
Tobiar is a massage device with a USB charging option, intended to primarily massage the wrist, the carpal tunnel area and by that prevent repetitive strain injury. It can also be used to massage other parts of the body, suffering due to repetitive strain injuries.
IEmbryo is a kit to help prevent a miscarriage. It embeds the embryos of the embryo. In case of suspicious events, the mother can connect to the doctor through the platform to get advice or act before misfortunate event for the baby.
The event is organized by a medical journal Medicina danes and Technology Park Ljubljana – largest innovation ecosystem for commercialisation of knowledge and technology in SE Europe – in collaboration with the Slovenian Medtech community Healthday.si. It is sponsored by MARAND, Bayer, MDNA, EU and SPIRIT Slovenia.
Here’s what’s on the menu:
Event moderator: Tjaša Zajc, Medicina Danes
17.00 WELCOME SPEECH; Tjaša Zajc, Journalist & conference moderator
17.15 – VIDEO: How is New Delhi hacking public health with mHealth
Q&A PANEL AND COMMENT: Where are we in eHealth compared to developing countries? What can we learn from them and each other?
mag. Katarina Kralj, Head of eHealth coordination at Ministry of Health Slovenia Ozren Pezo, independent expert for eHealth, former Assistant Director for ICT at Croatian Health Insurance Fund HZZO
The Q&A will be moderated by Dorjan Marušič, Practicing Cardiologist, Former Member of the Expert Panel at European Commission DG for Health and Consumers (DG Sanco).
17.45 – CHIT CHAT with dr. Axel Polack: The hype around big data, genetic testing and gene modification technologies: progress or resurfacing of eugenics?
18.00 – KEYNOTE: Digital Health Trends: Forget the numbers, where is the impact?
Jesus del Valle, Head of Bayer’s Grants4Apps Accelerator
18.15 – PANEL: Rethinking the patient/customer, payment models, funding options
Dr. Jesus del Valle, Head of Bayer’s Grants4Apps Accelerator Dr. Klaus Stöckemann, Managing Partner at Peppermint Venture Partners Dorjan Marušič, Practicing Cardiologist, Former Member of the Expert Panel at European Commission DG for Health and Consumers (DG Sanco) Stanislav Sirakov, Partner at LAUNCHub Dr. Axel Polack, General Partner at the Joint Polish Investment found Alex Farcet, Co-founder of Startupbootcamp – global network of industry focused startup accelerators
Details about the JURY MEMBERS of the Startup Competition at the INFUSE Digital Health Networking Event are available here.
19.00 – BREAK BEFORE THE “LAST CALL for Grants4Apps Startup Competition”
19.30 – STARTUP PITCH COMPETITION
20.30 – JURY DELIBERATION & AWARD CEREMONY
21.00 – NETWORKING PARTY TIME
Startups in all stages are invited to pitch at INFUSE.
It’s no secret around 80% of startups die after two years, due to lack of experience and funding. Accelerator programs get hundreds of applications and the majority of companies don’t even get a chance to present their solution in person. At INFUSE you can increase those odds. By getting feedback from the decision makers, you can gain visibility, make new valuable contacts and increase you chances to get funding.
Three startups pitching will be chosen:
– one will get shortlisted for Startupbootcamp, which gives accepted teams mentorship and 15.000 euros,
– one will get shortlisted for Grants4Apps, which gives accepted teams mentorship and 50.000 euros,
– one more developed will get a booth at MEDICA Trade Fair in Düsseldorf in November, at FTR4H Lab&Lounge in the US Pavilion!
The commercial price of a spot in the Future for Health Lab & Lounge at MEDICA is 3.000 USD. Future for Health (FTR4H) is a global Think Tank on Digital Health.
China is vibrant; China is growing; and China is changing. Especially the healthcare sector in the country with one of the largest online populations in the world is in transition – according to a EY report out of the 700 million people with internet access in China, 86 percent go online using their mobile phones. New companies such as WeDoctor, an online portal to schedule hospital appointment, Ali Health, a a pharma e-commerce platform powered by Alibaba Group Holding, or Chunyu Doctor, a telemedicine platform, are disrupting the digital health market in China. According to CBInsights, investments in digital Health in China grew beyond $1.1 billion in the first part of 2016.
A great time for FTR4H to explore the Chinese market! So please join the session on “The Future for Health – How Mobile, IOT and Data transform healthcare!” at TheChina Medical Innovation Forum 2017 on June 11 at the prestigious Shangri-La Hotel in Suzhou for the following talks:
09:00 – 09:25 am: Opening Keynote on “FTR4H – Driving Digital Health” by Mark Wächter, FTR4H Chief Evangelist
09:25 – 09:50 am: Practical Experience on “Mobile Health Care in a Hospital” by Gao Shan, Information Centre of Xuanwu Hospital, affiliated to Capital Medical University
09:50 – 10:15 am: “Strategies for Developing Mobile Medical Apps for Patient-interactive Medical Devices and Simplifying the Clinical Path to Market Approval” by Deng Xiaoxu, Business Director of Chiltern International
10:15 – 10:30 am: “Medical Device aaS – reinventing home care” by Dr. Junhao Hu, CEO of Darma
10:30 – 11:00 am: Break
11:00 – 11:15 am: “Redefining Consumer’s role in China Healthcare” by Sebastien Gaudin, CEO and Founder of The CareVoice
11:15 – 12:00 am: Fire-Side-Chat: “How Digital Health transforms the Healthcare Continuum in China”
Please also feel free to join us at the FTR4H Meet & Greet for Digital Health Aficionados on Saturday, June 10, 16:00 – 18:00 @ FTR4H Lounge.
“Just creating an app does not mean you have a company. The key key question is: are you solving a problem?” These were the opening words of Pradeep K. Jaisingh, Founder of HealthStart India, at the VC Panel at #FTR4H program at MEDICAL FAIR India in New Delhi. Panel was organised by HealthStart. The main aim was to highlight VC perspective on the digital health startups scene in India.
As said by Mr. Jaisingh, the basic background of technology needs to be that it improves the outcome. A solution needs to solve a problem and be sustainable. From the macro perspective, potential for disruptive innovation in India is big, said Mr. Jaisingh. Especially in terms of diagnostics, treatment and management of chronic diseases.
The doctor’s expectations in the near future are high. Artificial intelligence can be utilized to effectively synthesize patient information before his visit in the hospital or a doctor’s office.
What do the doctors need?
Private Equity Professional Mayur Sirdesai, Director at Somerset Indus Capital Partners, warned, the key issue in digital health technology and innovation is probability of adoption. “When a doctor has a line of patients in the waiting room, he can’t be bothered by entering data in the computer,” he mentioned. The second challenge is payment for digital solutions. Revenue model of a startup is crucial to implementation of a solution in practice. In India, most payments are still out of pocket which might change with the development of the insurance market.
From the perspective of Shuchin Bajaj, Founder Director at Cygnus Medicare, a big potential in India is in putting more effort into medical education of other specialists and healthcare providers, apart from doctors. “We are to doctor-centric. I am a big fan of personalized medicine and “ayurveda” in that sense. These sciences look at the patient as an individual while medicine takes the patient as a dataset. Ayurveda does not treat the disease,” he said.
Needs and payments
Partha Dey, Healthcare Leader and SME at IBM India mentioned the need for more collaboration:“It is clear and we agree we need to walk together and collaborate. Technology can work as a platform and our idea is to use it to solve real life problems. We are working on longterm solutions. The first issue is always the business case. What do users need? What are they prepared to pay for? A lot of startups have ideas, but struggle with translation and implementation in practice.”
Vikram Gupta, Founder and Managing Partner at IvyCap Ventures Advisors described India as a unique market because of the payment system. “In the developed world insurance takes care of healthcare. Our environment drives behaviour. Hence healthcare consumption is different compared to the rest of the world. The opportunities here are of different nature than in other countries. One thing to look at is infrastructure. Ratio of hospitals does not match population needs.” Huge opportunities lay in financial assistance for healthcare, concluded Vikram Gupta.
iNICU stands for ‘Integrated Neonatal Intensive Care Unit’. The solution is leveraging IOT and Big Data,connecting generated source data from various devices.
iNICU is a one stop workflow solution to assimilate and disseminate neonate information. The application is designed to help improve management of all responsibilities of various professionals (Nurse, Resident Doctor, Senior Doctor, Pediatrician and Administrator) involved in the care of a baby.
A solution for an important but hitherto ignored area – Student Wellness. It helps monitor, track and control children’s wellness in school, making it easier for parents and teachers recognize struggles of specific students. This makes it easier for the carers to find ways to help students cope with their problems easier and make most of their potentials.
Focus 2: data optimization, presentation, utilization
Empowering transformation along enterprises in various verticals, mainly in the field of Education & Learning solutions. A mixed approach with Open Source & proprietary offerings enable institutions achieve higher levels of transformation, in much affordable way. Abda Digital
Abda Digital (a Tech Vedika Pvt. Ltd. spin off) has been establish with vision to develop innovative products specifically for the mobile and digital space. The inception of Abda in November 2015 marked commitment to focus on product ideas that could help organizations communicate with their target audiences in the best way using less time.
Management software for obstetricians and gynecologists is offering End-to-End Solution to all ObGyn Practice Management Challenges. This solutions offers a new way of communication between the expecting mother, obstetricians and gynecologists. Between visits in the doctors office, the mother can ask questions with the help of a platform.
Cardiotrack brings portability to healthcare diagnostics. Cardiotrack health sensors provide clinical grade reading for 12-lead ECG, SpO2 and blood pressure. Robust design makes Cardiotrack an ideal solution for home healthcare, tele-health, doctor’s clinic, nursing home or primary healthcare.
This solution is altering the delivery of critical life saving health care monitoring during emergency and preventive diagnostic capabilities. This is done at a much lower price-performance points, thanks to innovative synthesis of digital signal processing, image processing, biomedical components, algorithms, wireless and communication technologies. The first sets of solutions are in the realm of wireless remote patient monitoring.
TrackMyBeat is a healthcare technology and analytics company, offering a complete health and wellness management system. It focuses on the prevention of lifestyle diseases. The subscriber can proactively manage his or her health through automated alerts. The product also highlights the efficacy of various interventions and activities in improving the user’s well-being.
FTR4H is in full preparations for MEDICAL FAIR INDIA 2017. Before arrival, we talked to Incubators, Companies, Start-ups, Experts… Here’s what you might find useful if you’re thinking about doing business in India.
1. Make good market research
India ranked at 130 out of 189 economies in 2015 according to the World bank. 4% of the GDP go to healthcare; around 60% of expenses for healthcare are out of pocket, according to OECD. Almost a third of the population is supposed to own a smartphone by 2019, claims GSMA report. All this goes in favour to digital health or at least mHealth solutions, but keep in mind plenty of good startups on the ground are busy tackling everyday issues.
The country is extensively working on using all the advantages of digital solutions to improve people’s lives and health. Heard of Aadhar? It’s unique-identity number issued to all Indian residents based on their biometric and demographic data such as eyes and finger prints. Nishal Arvind Singh, Founder NASS & Associates IPR Boutique law firm and Legal policy advisor to Honourable Health Minister Satyendra Jain of the Delhi Government explains the plan behind the project: “All payments will be linked with aadhar, to avoid duplicity, promote increase in online payments and disbursement to beneficiaries under many governmental schemes for education, pension etc. This will enable direct transactions into beneficiaries bank account, which will prevent corruption,” says Arvind, adding that in time, it will be connected with healthcare. The unique identification number of a person will prevent duplication and confusion in data management and insurance claimes with others with the same name.
2. Do you have enough time for business here?
According to a World bank report from 2006, it takes 56 procedures and approximately four years for a simple commercial contract in India. As explained by Prabhu Guptara, a distinguished Professor of Global Business, Management & Public Policy at William Carey University, India, a Member of Boards of different companies in the UK, Germany and Switzerland, the problem is the bureaucratic system. It takes years for the legal claims to be processed, let alone enforced. It is a slow system, so brace yourself with energy and patience to conquer it.
3. Know that India has very good medical doctors
Top class. World renowned. There’s a reason medical tourism flourishes here. However, as Sachin Gaur warns, 80% of people live in rural areas and only 20% of facillites are there. There are different initiatives to improve access, such as the the mohalla (neighbourhood) clinics. As explained by the hindustantimes, they were started with the aim of taking diagnostics and treatment of simple ailments to people’s doorstep and reduce the footfall in tertiary care hospitals.
4. Can you make a subscription plan under a dollar a month?
India has 1.3 billion people, the majority is poor. “2/3 of the population can’t be your target market. 30% of the population lives on less than 2.5 dollars/day, another third 5 dollars/day. Which still leaves you with 400 million people you could address,” says Prabhu Guptara. However, given the number of people, if you can design a subscription model for around 20 cents, than you might address the poorer population, says Sachin Gaur, Director Operation at InnovatioCuris. Taking into account the volume you could reach, it can turn out to be a viable business model.
“If you can design a subscription model for around 20 cents, than you might address the poorer population,” says Sachin Gaur, Director of Operations at InnovatioCuris.
5. Ask, connect to people on the ground
Have you heard of HealthCode.io? It’s a platform for healthcare professionals where you can find people interested in co-creation, consulting, commercialisation, fundraising, mentoring, investing, validation. The app, as the founders claim, already has members from 52 countries, so you might find useful connections even outside India!
Be sure to check the two episodes of Medicine Today on Digital Health! Praphu Guptara speaks about differences in the healthcare systems in India, Switzerland or England. Sachin Gaur talks about the innovative solutions in India and problems of digital solutions and cyber security. You can find it on iTunes or Soundcloud.