Philips on Wednesday announced the launch of their first global startup collaboration program involving Philips’ innovation hubs in Cambridge (US), Eindhoven, Bengaluru and Shanghai, focused on the application of artificial intelligence in healthcare. The programme focuses on the application of AI-based clinical decision support tools, such as image interpretation, analysis and integration; and workflow tools like intelligent treatment plans for radiology, ultrasound and oncology. After careful analysis, the most promising 19 start-ups out of 750 applicants were selected for inclusion in Philips’ proven accelerator program for early-stage startup companies.
Speaking on the occasion, Srinivas Prasad, CEO Philips Innovation Campus, Bengaluru, said, “The Indian Start-up ecosystem is demonstrating an increasing trend of applications based on deep learning and AI in the healthcare domain. Philips is engaging with entrepreneurs who are developing AI-enabled solutions for improving clinical and operational outcomes. This year, the chosen start-ups are unique and the team at Philips Innovation Campus is committed to helping startups strengthen their value proposition and become successful sustainable businesses.”
The startup program at Philips Innovation Campus, Bangalore caters to innovation ecosystems across India, Japan, South East Asia, Australia and New Zealand, Middle East and Turkey.
The team screened more than 150 healthcare start-ups that had AI and radiology as part of their proposition and the most promising five start-ups joined the global cohort. They will now be coached and facilitated from Philips Innovation Campus, Bangalore and gain access to some of the best experts from the ecosystem.
Alberto Prado, Head of Philips HealthWorks added, “At Philips, we use intelligent technology to improve people’s health across the health continuum – from healthy living and prevention to diagnosis, treatment and home care – while also increasing the efficiency of healthcare delivery. We are already working closely with clinical partners to develop AI-enabled solutions that are grounded in scientific research and validated in clinical practice. This new collaboration program recognizes the role that start-up companies play in bringing breakthrough healthcare innovations to the market.”