Tag: startup

“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.

Meet our startups!

8 start-ups are present at our FTR4H lounge at MEDICAL FAIR INDIA in New Delhi. They are:

Focus 1: Children’s health

iNICU !!!WINNER OF THE #FTR4H INDIA AWARD !!!!!


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.

growupright


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

Vertes Cloud


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.

Focus 3: Women’s health

Doc n me

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.

Focus 4: Cardiology, trackers, sensors

Cardiotrack


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.

A3RMT

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.

Track my beat 


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.

If you’re a part of the Digital Health universe and based in India, there’s only one place you should be during 6-8 April. MEDICAL FAIR INDIA, taking place in New Delhi, invites you to explore the FTR4H Lab & Lounge at MEDICAL FAIR INDIA 2017, Pragati Maidan, New Delhi.

The event is sponsored by: IBMIntel and eSec Forte.   

Our ecosystem partners are: HealthStart, Medhoop, InnovatioCuris, T-hub, ib-hubs, Smart Cities Lab, InnovatioCuris, HealthCode.io.

AGENDA 

April 6th (draft):

14:00 – 14:05 Introducing FTR4H / Mark Wächter, FTR4H Chief Evangelist / MWC.mobi
Mark Wächter, FTR4H Chief Evangelist
14:05 – 14:20 Digital Health – a global snapshot / Tjaša Zajc, FTR4H Global Audience Developer
14:20 – 14:40 Infrastructure Services for healthcare customers/ Mr Ashish Kothari, Associate Director – Infrastucture Services, IBM Global Technology Services – Cloud
14:40 – 15:00 Digital health Solutions alongside the healthcare continuum / Satish Choudhury, eSec Forte
15:00 – 15:10 DOC n Me / Samidha Garud
15:10 – 15:20 Track My Beat
15:20 – 15:40 Tech Mahindra 
15:40 – 16:00 FTR4H Fireside Chat
FTR4H (Future For Health) is an international platform, which enables discussions, meetings, dialogs and networking among thousands of Digital Health start-ups, corporations and investors, including accelerators and media from around the world. We explore how Digital Transformation effects the healthcare industry: Mobile – Feature Phones, Smartphones, Phablets, Tablets, Wearables, VR Headsets, IOT – Internet of Things – Sensors, Drones, Robots, 3D-Printer, Smart Things like Cars and Homes, Data – Smart Data, Self Data, Genomics Data, Safe Data.Future for Health acts as a think tank and definer to connect all global Digital Health Ecosystems in markets like China, Europe, India, Israel and the US with MEDICA – a hashtag to categorize what drives Digital Health: #FTR4H

April 7th (draft):

12:00 – 12:05 Introducing FTR4H / Mark Wächter, FTR4H Chief Evangelist / MWC.mobi
12:05 – 12:20 Digital Health – a global snapshot / Tjaša Zajc, FTR4H Global Audience Developer
Tjaša Zajc, Journalist, FTR4H Global Audience Developer
12:20 – 13:20 HealthStart VC Talk
Pradeep K. Jaisingh (Chairman, HealthStart), Apoorva Patni (Currae Healthtech Fund), Mayur Sirdesai (Somerset Indus Capital Partners), Vikram Gupta (IvyCap Ventures Advisors Private Ltd.), Dr. Tarun R (Utilis Capital Advisors)
13:20 – 14:30 LUNCH BREAK
14:30 – 14:50 How Mobile Health restructures healthcare delivery / Kunal Bajaj, Director at eSec Forte
14:50 – 15:10 Digital hospital and Cognitive Technology / Mr Partha Dey, IBM
15:10 – 15:20 Digital Health Trends in Asia and Business Opportunities / Dr Karthik Anantharaman, CMO at BPL Medical Technologies

 

***MEET, GREET and MINGLE WITH THE DIGITAL HEALTH COMMUNITY***

 

16:00 – 16:45 Pitches for the FTR4H India Award
16:45 – 16:55 Jury Deliberation*
*The jury:
Dr Vishal Bansal – Investor, Mentor, Technology Enthusiast & Docpreneur
Pradeep K. Jaisingh – Chairman HealthStart India
Mark Wächter – FTR4H Chief Evangelist & Mobile Strategist
Dr. Tarun Ramole – Digital Health Evangelist, Director Utilis Capital
Tjaša Zajc – FTR4H Global Audience Developer & Journalist
Muthu Singaram, CEO, IIT Madras HTIC Incubator
16:55 – 17:10 Award Ceremony
17:15 – 18:00 Mingle and network with the Digital Health community

Join us at our Meet, greet and mingle event. Register HERE.

 

 

This event is enabled by:

According to CBinsights, Startups have raised over $1.1B to help improve women’s healthcare. At SXSW 2017, we therefore invited a new startup that developed a FemTech solution that will support teenage girls in learning more about sexual health: The Hungarian-German startup MediLad builds personalized health conversations for women.The first product of the young female founders team is Izzy, a period tracking chatbot for messenger. In a short time of 3 months, the female founder team engaged 15,000 users worldwide and processed around 300,000 messages. In September 2016, the team joined the first batch of Startupbootcamp Digital Health Berlin.

What is FemTech? The analysts of CBinsights divid FemTech in eight major areas:

  • Fertility solutions – Startups providing IVF, egg freezing, and medical treatments for female infertility.
  • Period & fertility tracking mobile apps – Mobile apps for self-tracking of periods and fertility cycles.
  • At-home fertility monitoring devices – Startups offering hardware devices for women to monitor their fertility at home.
  • Pregnancy & nursing care – Startups offering medical care & diagnostics for pregnant women, as well as tech-enhanced breast pumps.
  • Reproductive system healthcare – Healthcare companies focused on women’s sexual health issues, such as pelvic floor device makers and women’s STI treatments.
  • General healthcare – Teams aiming to improve the overall clinical healthcare experience for women.
  • Period care goods – Startups offering pads, tampons, and CPG items for managing periods.
  • Women’s sexual wellness – Startups offering lubricants and related items to help women improve sexual wellness.

Learn more about MediLad & Izzy at the FTR4H Digital Health Reception on March 13th, 4pm, at the German Pavillion, Wunderbar.

India’s LinkedIn of Healthcare in the making

India has more than 5 million qualified professionals working in the healthcare industry. There are around 1 million doctors and 2.5 million nurses. This workforce is growing at a rate of more than 10% per annum.

If India is a puzzle to you, this short interview with Mayank Sharma, one of the owners of Medhoop – a platform for healthcare professionals and industry in India, will give you a nice introduction into the current state of the trends in the digital health startup community in India. And why it is a good investment to take part in events such as Medical Fair India 2017, held from 6-8 April in New Delhi.
“We aim to create an ecosystem in the healthcare industry for all the industry stakeholders. Everyone, from medical students, colleges and teaching institutes, healthcare providers, Health-tech, medical devices and consumables industry, thought leaders and startups, can connect seamlessly and grow together,”  This is Sharma’s brief description of Medhoop. The size of the country is keeping the healthcare industry in India fragmented. The disconnect is making the industry inefficient and uncompetitive. For this reason, digital health development is so much more promising here.

 

Let’s start with the basics. What are the three digital health trends to watch out for in India? 

Mayank Sharma, one of the owners of Medhoop.
The Indian healthcare industry is now growing 360 degrees. Healthcare providers are not only focusing on developing world class healthcare physical infrastructure, but also on integrating technology. All this aims at making treatment and information closer to patients. Among major trends I would highlight mobile health (mHealth), on-demand healthcare, EHR/EMR solutions, healthcare aggregators and telemedicine.

 

How developed are these segments?

The mHealth space is probably the hottest in the segment. It is being further augmented by wearable gadgets that monitor health statics on a real-time basis. There are startups integrating existing technologies with concepts like telemedicine, doctor on call and remote monitoring of patients. On-demand healthcare is fit for an urban population which seeks everything instantly. If possible, they want it available on their smartphones. Startups understand this need. EHR industry is on the rise, looking to capture all the information they can. Not only to provide better health care for patients, but also for system improvements. From cutting treatment costs, research purposes, giving patients access to their health records online, to changes in regulatory environment.

 

What does the startup community in India look like? 

“Today India is among the top countries in terms of growth of startups. It is exciting, buzzing with innovation, passion and energy.”

India has been a country of startups for a long time. But the real recognition is happening now – with the rise of Startups Unicorns. We have Flipkart, Snapleal, Taxi aggregator Uber (prime competitor to Uber in India), online payment solution Paytm. Social media and growing internet penetration has opened an altogether new growth avenue for startups.

 

What about the digital health community specifically?

The digital healthcare community in India is growing at a very rapid pace. From hospital/doctor appointment booking solutions, EHRs, diagnostic lab aggregators, mobile health devices – innovation and new ideas all around. Today we see a lot more entrepreneurs in the digital health and healthcare space compared to 5-8 years ago.

 

What contributed to this acceleration?

At first, the healthcare community has been hostile to new technologies and experiments due to the inherent nature of its business. But slowly, the awareness levels and aspirations of doing things faster and better is positively affecting healthcare innovations and digital health technology. Companies like Practo have already made it big and are serving international markets already.

 

Which cities are leading in terms of accelerating innovation? How does Delhi rank in this community?

Bangalore leads the list, closely followed by Delhi, Gurgaon, Mumbai, Hyderabad and Chennai. Not surprisingly, we also have beautiful healthcare and health-tech ideas coming out from comparatively smaller cities like Jaipur and Ahmedabad. I myself come from Hathras, a very small town, and now residing in Delhi, so let’s say innovation has no boundaries.

 

What were the digital health biggest investments in 2016? 

There is significant development and a number of startups working on services like pharmacy or lab services aggregators, remote monitoring healthcare devices and online doctor or hospital discovery. Startups which attracted major investments in 2016 were majorly from the SaaS segment. Practo, Healthkart, 1mg, and Goqii were among the front runners in a list of healthcare investments by investors.
“There is significant development and a number of startups working on services like pharmacy or lab services aggregators, remote monitoring healthcare devices and online doctor or hospital discovery.”

Which are your Top 3, 7 or 10 startups for 2017? 

This is a tough question for such an exciting space like digital healthcare in India. But if I divide the digital healthcare space into segments, I would say the following:
In-Doctor Network space: the two companies clearly standing out are DocPlexus and Curofy. Both of them are fulfilling the need of doctors to be able to consult cases online right from their mobile phones and build their own professional network. It would be interesting to see what route they take next.
In-Doctor Discovery segment: booking platform Practo had disrupted the industry before anyone could even think of an idea such as online booking of appointments. Lybrate (online doctor database gives you access to over 90,000 highly trained medical experts) has been able to stick it out in 2016 and will, it seems, continue to do so. Then there is CrediHealth, with the tagline ‘Your Medical Assistance’ doing exactly the same. Within its services, it offers second opinions, doctor selection and surgery planning to an altogether other level. I am sure these companies will be further innovating and disrupting this space.

 

Where can Startups present their solution to the wider public? Are there many events such Medical Fair India?

There are multiple events on medical equipment, lab equipment, medical specialty-specific devices and pharma in India.

 

You are a partner of Medical Fair India. Where do you see the benefit of this collaboration?

It matches with our belief that as a healthcare ecosystem partner, we have a responsibility to represent all the healthcare stakeholders and engage with them. This year Medical Fair India combines equal opportunities for healthcare companies as well as medical and healthcare technology startups, which is an encouraging trend.

 

What can startups expect from Medical Fair India? 

The most important part of such expositions and fairs is networking with various industry stakeholders. Participation offers understanding of new dimensions of the industry, understanding the demands, meeting customers, buyers and a lot more. This season Medical Fair India integrates FTR4H (Future For Health) platform where healthcare technology startups can participate. Medhoop also plays a critical role of bringing these startups to forefront, connecting them with industry, prospective customers, investors and a lot more. Among other things, we are organising mentorship hours for startups. So there is a lot for startups to gain.

Imagine you are sick and your medicine is just 30 min by Drone away… Or you will die without a vital blood transfer: German startup Skycart revolutionizes the way physical goods are shipped today. A network of autonomously flying drones carries your medicine to you – if you can’t leave your house. For that Skycart builds a UAV network for seamless peer-to-peer delivery by air. Digital Health rocks the sky!

On March 13th, Lukas, founder of US-American & German startup Skycart, will present his new way of transportation to all guest of the FRT4H Digital Health Reception at SXSW along with iRewardHealth and Seemed.

Explore the Indian Startup Community

According to the Global Startup Ecosystem Ranking 2015, both Berlin (Rank 9th) and Bangaluru (Rank 15th) are the frontrunners in the startup ecosystem globally. In April, digital health startups can explore the community in Delhi by attending Medical Fair India. Tickets are for free. Startups can exhibit for just 400 Euro to join the 500+ exhibitors from 16 countries on an space of more than 6,000 qm and meet the more than 10,000 visitors.

Read more about “Why Indian and German startups should Work together” at Entrepreneur.com.

SXSW17: Welcome iRewardHealth, Seremedi & Skycart

We are excited to kick-off our Think Tank FTR4H (Future4Health) at SXSW in Austin. On March 13th, we will welcome digital health enthusiasts at our reception at the German Pavilion — WUNDERBAR. In one intense hour we will give an overview what FTR4H is all about, what is planned in the future, who is part of the FTR4H network that is reaching from Germany to Israel, from Israel to India, from India to China — all the way to SXSW in Austin. As a special treat three international digital health startups will pitch:

iRewardHealth

All the way from Berlin: iRewardHealth, an international startup from the first batch of Startupbootcamp Digital Health Berlin, clears the last hurdle in user engagement by turning healthy actions into cash. Their wellness program tackles the massive problem of preventable diseases using behavioral economics to effectively motivate healthy behavior change. Founded by a team of experts, and fueled by their proprietary reward algorithm, iRewardHeath is gaining traction in US and German markets, showing the world that Health pays!

Sykcart

Imagine you are sick and your medicine is just 30 min by Drone away… German startup Skycart revolutionizes the way physical goods are shipped today. A network of autonomously flying drones carries your medicine to you – if you can’t leave your house. For that Skycart builds a UAV network for seamless peer-to-peer delivery by air.

Seremedi

Houston calling! CareScriptions by Seremedi from Houston, Texas, is a SaaS patient engagement platform. CareScriptions enables providers to equip patients with prescribed guided treatment plans using their mobile devices, enhance their visibility into outpatient care and optimize treatment plan implementation, execution and effectiveness reducing costly medical crises.

If you want to join us please register via eventbrite.

FTR4H at SWSX - © ADDON / SXSW

Save-the-Date for our Meet & Greet at SXSW 2017!

As a global network of Movers & Shakers in Digital Health #FTR4H is connecting digital healthcare experts worldwide.

On March 13th we will invite startups, healthcare experts and investors to a special Meet & Greet at South by Southwest, short SXSW. The festival in the heart of the USA brings together the who-is-who in the film, interactive media and music scene. Since 2007, “SXSW Interactive” a special conference on emerging technology, draws startup founders and creatives to Texas. The festival includes a trade show, speakers, parties, a startup accelerator — and in 2017 for the first time: The FTR4H Meet & Greet!

Startup of the Month: In 2015 the MEDICA App COMPETITION was scouting for successful mobile health startups for the fourth time. Ten early-stage startups presented their digital health apps on stage at the worlds biggest medical trade fair in Dusseldorf. At the end 2016 the winner — Israeli startup VoiceItt — announced another big milestone in their young company history: The international BIRD Foundation granted $900,000 to the development of VoiceItts mobile voice- and voice-pattern recognition software for people with disabilities. VoiceItt co-founder Danny Weissberg shared his view on their achievements after winning MEDICA App COMPETITION in 2015:

Danny, for the ones that do not know: Can you describe in a few sentences what the VoiceItt team is working on?

Danny: Voiceitt is developing an innovative speech recognition technology called Talkitt. In future, it translates non-standard speech patterns into clear speech in real time, enabling people with speech impairments to communicate spontaneously and naturally using their own voices. The solution is language-independent and can be easily integrated into existing operating systems and devices allowing speech recognition truly accessible to everyone.

You started in 2012, what happened since then?

Danny: A lot! Currently we are conducting Beta testing on dozens of potential users that show very promising results, planning to do pilot testing with Hospitals, e.g. UHealth and BCH. We will release the first product in the mid-2017. It was not an easy journey. But we were also extremely lucky to get tremendous positive feedback and could secure the necessary funding to develop such a demanding technology. To date we have raised more than $2.5M — most recently we won a grant from the Bird Foundation and a grant of 50,000 Euro from H2020 SME Instrument, Phase 1.

You have won more than $2.5; in grants and competitions without giving up much equity — much more than many other startups get from investors after years of hard work. What is your magic recipe?

Danny: We won $2M in grants but also gave up equity for $500K of Angel investments. This is no magic; it is a deliberate strategy. Developing a solution for people with disabilities is the most amazing and rewarding challenge — being able to dramatically improve and impact the lives of millions while building a very profitable business while developing cutting edge technologies. However, many investors don’t want to invest in what they see as a “Niche market”. Because of that from Day #1 on I knew we had to be creative in fundraising and put the effort more on grants\competitions were we have an advantage telling a powerful and emotional story versus private investors where we have a disadvantage of a niche market.

“We won $2M in grants but also gave up equity for $500K of Angel investments. This is no magic; it is a deliberate strategy.”

Just a few tips for fellow entrepreneurs that consider applying for grants: How long does it usually take to apply for grants?

Danny: It varies. Some are just simple web forms that takes an hour and some are long applications and processes that take’s week of work and the process make take up to a year! This is why you need to choose the “lowest hanging fruits”, where you effort is most likely to be fruitful and remember that with grants the processes are very long so make sure you have enough run rate.

Is there a complete list of competitions and grants other founders could check out?

Danny: Unfortunately, there isn’t! It also all depends on the area you are active in.

Israel is said to be the Startup Nation and many interesting digital health startups emerge from your small country. At VoiceItt, many of your investors have Israeli roots too. It looks like there is a special glue that hold together Israeli founders?

Danny: The Startup Nation has very good reputation of success and it helps getting funding from investors overseas. In our case, some investors are personally connected to the mission because they or one of their family members have speech disabilities.

You also launched your business for personal reasons?

Danny: Yes, when my grandmother had a stroke and lost her voice, it made me realize how hard it is for a person to lose this basic ability to communicate. Our app Talkitt will connect people, who have speech disabilities to the ever more voice-enabled world.
I am sure, speech recognition is going to be dominant in our life. This is how we are going to communicate not only among ourselves but with machines, computers, cars, smart homes and this is why all major companies invest in it — be it Microsoft, Apple, Amazon, IBM or Google. However, none of those companies develop a solution for people with speech disabilities.

2017 just started, what are you up to?

Danny: In 2016 we finally started Beta Testing which helps our R&D to focus on improving the technology in real-life conditions and getting the application closer to release. In 2017, we will continue pilot tests with leading hospitals to launch Talkitt worldwide — and at a very high success rate. In the last years we worked really hard to develop a product that is suitable for any kind of speech impairment. Nothing is more frustrating for people with speech issues than crushing their hopes of finally being able to communicate using their own voice by delivering a mobile app that is not tested enough. Pilot testing in Barcelona, the UK, The USA and of course your tech development in Israel. In 2016, you also attended Mobile World Congress as prize from MEDICA App COMPETITION and at Mobile World Congress you won tickets for TechCrunch Disrupt New York. Sounds like you travel a lot.

How do you cope with “living on the fast lane” all the time?

Danny: I don’t even have time to look back on how many miles I and the team travelled in 2016 — but it has been A LOT! The tough thing is not so much the traveling but the Jet-leg when traveling over the ocean.

It is said that 9 out of 10 startups struggle and die. You fought this cycle successfully so far. What advice can you give other founders that are active globally like you?

“Focus on the product development, be creative in fund sources.”

Danny, thanks for the interview and good luck in 2017!

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