TechEmerge is focused on introducing health technology innovators around the world to new clients in the Indian healthcare market through structured pilots with the ultimate goal of wider, commercial implementation. Global innovators are invited to apply regardless if they have existing relationships in India or not.
The Healthcare Landscape in India
India offers a unique market opportunity for healthcare innovators around the world. Over 1.2 billion people call India home and the vast majority pay for healthcare expenses out-of-pocket. Given this environment, healthcare providers are driven to new ideas that improve care and reduce costs.
The Indian healthcare market is expected to grow to $280 Billion by 2020 and the current value of the medical device/diagnostics market is estimated at $3 Billion and growing. The private sector healthcare providers participating in this program range from multi-specialty hospital networks to specialty clinics and even lab networks. Their facilities serve regions across India with over 60,000 beds and 400 locations. Healthcare providers have expressed an interest in tools that service both urban and rural populations.
Immediate technology needs identified by the majority of healthcare providers affiliated with TechEmerge include:
Other needs identified include,
- Augmented Reality
- Business Data Analytics Platform
- Clinical Data Analytics Platform
- Electronic Medical Records
- Emergency Care
- Minimally Invasive Treatments
- Operational Efficiency (scheduling, wait time reduction, data entry, etc.)
- Patient Portal
- Patient Safety/Infection Control
- Payment Collection/Billing
- Referral Tools
- Search/Discovery Tools
- Secure Communications
- Training Tools
How it Works
TechEmerge is open to health technology innovators globally. Innovators will be selected through a competitive application process. Candidates are encouraged to apply by March 6, 2016. Ideal candidates are post-seed companies with products that address (one or more) of the needs identified above, have established proof of concept and installed with one or more clients.
Meet with Healthcare Providers
Selected innovators will be invited to meet with senior executives from TechEmerge healthcare providers in India. In preparation for these meeting the TechEmerge team will provide background information on the Indian market and help innovators better understand how their technologies can be applied to the Indian context. Through these in-person meetings, shortlisted innovators will be able to meet with hospitals and specialty clinics to discuss the potential of conducting a pilot together.
Grants and Pilots
Healthcare providers can select innovators from their in-person meetings to implement a pilot. Up to $1 Million is available in a funding pool to support pilot implementations. In addition, innovators will be able to join educational workshops and receive pilot implementation planning and support from the TechEmerge team.
The selected innovators will have the opportunity to present their pilot results at major health events and conferences. Any preliminary data and proof-of-concept results may be used for promotional purposes on the TechEmerge website, in press releases, newsletters, and other marketing material. This is a chance for both Innovators and Healthcare Providers to increase their visibility for implementing innovation solutions.
Potential for Growth
Innovators and Healthcare Providers are invited to evaluate the individual impact of each pilot and explore the opportunity of expanding established relationships into commercial contracts.
Applications will be reviewed by the TechEmerge team and finalists will be presented to healthcare providers partnering under the program. Applications will be assessed on a range of elements including the following,
- Market readiness and proof of commercialization (proven concept and installed with 1 or more clients)
- Degree of the proposed technology's ability to address the needs identified by healthcare providers
- Degree of potential to improve healthcare delivery in India
- Operational capacity to work in India
- Ability to deliver product/service within the context of the Indian healthcare market
- Degree of interest from Indian healthcare providers
- Launch - Tuesday, January 13, 2016
- Innovator Applications Due - March 6, 2016
- Finalists Announced - May 2016
- Meet with Healthcare Providers - June 2016
- Pilot Implementation Begins - Fall 2016