Philips: How 4 themed Startup Programs can drive innovation to change the future of healthcare
Mar 6, 2018 5:17:06 PM. By: High Tech Campus
As patient numbers and the complexity of care rise, healthcare systems around the world face major challenges. Global health leaders, together with health technology companies like Philips and dynamic entrepreneurs all recognize how our reactive and fragmented systems are full of missed opportunities to improve lives and reduce waste.
Philips is building solutions that make powerful connections between people, data, and technology, from the hospital to the home, creating truly life-changing opportunities. At Philips HealthWorks, they've tailored an intensive 12-week Startup Program, where they help you to build, test, de-risk your innovation and look for collaboration opportunities. Because they truly believe that we can change the future of healthcare by working together with these incredible entrepreneurs.
Philips programs are themed around domains where your solutions can make a huge impact on the world
For their 2018 programs, Philips identified four major themes that will change the future of healthcare tremendously: cardiology, oncology diagnostics, personal health and AI for radiology. These are areas in healthcare where they believe startups can make a huge impact on the world. They are also designed to ensure that entrepreneurs leverage the expertise and business strengths of Philips. Working in themed cohorts means that you can challenge and learn from one another. For each program, Philips groups together between 6 and 10 exceptional startups in one of these fields. They take a careful portfolio approach when selecting the startups, so that startups inspire each other without ever being in direct competition.
Working in themed cohorts means that you can challenge and learn from one another
In 2018, Philips will run six programs throughout the year from one of their global innovation hubs in Bangalore, Cambridge MA, Eindhoven and Shanghai.
Cardiology - A new approach across the health continuum The first cohort of the year tackles one of the biggest challenges of all: Cardiovascular diseases are the number one cause of death globally, killing 17.7 million people each year, equal to an estimated 31% of all deaths worldwide . At Philips, they're working with customers to combine multiple technologies including patient monitoring, informatics and image-guided therapy to connect care across the cardiology care continuum, from the hospital to home.
Cardiovascular diseases are the number one cause of death globally
Entrepreneurs joining this themed program, which started in February, share Philips' mission to enable a new approach to cardiovascular care: one that delivers proactive and personalized care to patients while at the same time reducing healthcare costs. The cohort includes outstanding startups developing new treatment options for minimally invasive procedures, groundbreaking uses for 3D printing for cardiologists, applications of artificial intelligence in various cardiology use cases, and solutions that involve patients and informal caregivers in treatment decisions. The cardiology cohort is based at the Health Innovation Port. The Port was founded by Philips and brings together partners from the healthcare ecosystem. Find out more about the Startup Program in Hamburg here.
Oncology diagnostics - Enabling earlier, more precise, and personalized care With the number of new cancer cases expected to rise by 70% over the next two decades, we see earlier and more precise diagnostics playing a huge role in improving survival rates. New insights into cancer pathways, enabled by analyzing huge amounts of data from a wide range of sources, will deliver more precise prognoses and support tailored therapies to individual patients.
The number of new cancer cases is expected to rise by 70% over the next two decades
One of the ways Philips is exploring the theme of oncology diagnostics is through their HealthWorks innovation hub in Cambridge, MA. They've chosen nine teams to join their Startup Program this February. Most of the startups address specific aspects in cancer diagnosis or care with potential links to the platforms of Philips Oncology Informatics. They also included entrepreneurs working in the fields of radiation oncology and digital pathology to create a comprehensive and exciting cohort. Startups in this cohort will get the opportunity to team up with a unique blend of leaders and innovators from academia, medicine, venture capital, and private and public sector institutions in order to solve one of the world’s toughest healthcare challenges. Find out more about this program here.
Personal health - Inspiring healthy behavior The third theme addresses the very start of the health continuum: healthy living. Improving what we eat, how active we are, and how much quality sleep we get can have an enormous impact on our own lives. But it is our behavior that’s the most important factor, and we all know that change is hard. Maintaining healthy habits over the long term is even harder. So Philips is looking for innovative startups to join them in their mission to crack this conundrum.
It is our behavior that's the most impirtant factor in keeping us healthy
This cohort, running in the second half of the year, gives startups the opportunity to de-risk, scale and learn with some of the best innovators in personal health solutions. Teams will work from High Tech Campus in Eindhoven, Europe’s leading tech hub for 160 innovative companies and 40 startups. Get in touch with us to find out more.
AI for radiology - Adapting to the needs of radiologists and their patients The biggest healthcare related buzzword in 2018 is AI – artificial intelligence. Beyond its disrupting promise, the key question is how to make it work for health systems, health professionals and patients. Philips believes this final theme is so vital to current healthcare challenges, they're running three cohorts around the implementation of AI in radiology throughout the year: in Bangalore, Cambridge MA, and Shanghai.
Radiologists worldwide face increasing pressure due to increased workload, changing patient populations and challenging reimbursement conditions. To meet these needs, Philips is building AI solutions that adapt to each radiologist’s individual workflow, support disease diagnosis, and optimize resources to improve productivity and patient outcomes.
The key question is how to make it work for health systems, health professionals and patients
The HealthWorks programs will look at addressing some of the barriers to wide-scale adoption, such as the availability of reliably curated data, the implementation in a regulated environment, and the transparency of clinical decisions for individual patients whose lives depend on the decisions. Startups can join the HealthWorks program that suits best by time or location. In China, the market is poised to emerge as a global leader in radiology AI, both in terms of market demand and breakthrough technology.
They'll be running the Shanghai cohort to also cover the sub topic of AI in oncology diagnostics. In India, startups will get the chance to work at Philips largest IT site in Bangalore where experts from a multitude of disciplines and perspectives can help you build, scale and deploy your AI assets quickly and securely. As most AI startups are US-based or target the US Healthcare market, they see huge potential to disrupt healthcare with their final program of the year in Cambridge, MA. They will include the sub topic of ultrasound in this cohort as it will be fascinating to see the combination of AI with this real time imaging modality. Get in touch with Philips to find out about these cohorts.