We are one of the 15 promising start-ups which were selected for the InnoStars Awards 2019 of the EIT Health program. #bculture #eit #eithealth #innostars #startup #entrepreneurship "B-Culture is Portuguese start-up which provides a solution for a monitored screening and validation of compounds and implants for Pharma, Dental and Biomedical Industries, which is 4D and human-based." https://www.instagram.com/p/B0RX2VAlA5Q/?igshid=5iarbci5un9
B-Culture is pleased to be among the selected Startups by the EIT Health Innostars program. #startup #bculture #eit #eithealth #innostars #startupecossystem #networking (at Coimbra, Portugal) https://www.instagram.com/p/Bz_9eQkllYN/?igshid=l8jcmuy72dze
Cutting-edge technologies like artificial intelligence (AI), augmented reality, big data analytics, robotics are well used in all industries, but perhaps their biggest impact is expected in healthcare. As technology and innovation develops in healthcare, hospitals, healthcare providers and also startups find new ways to work on ideas how to revolutionize healthcare in the future.
Health Venture Lab officially started source: HVL
There is a huge business potential in healthtech sector, predicted to be worth $280bn by 2021 and Health Venture Lab provides a unique opportunity for startups from Europe and beyond to enter an international ecosystem of innovation. GE’s extensive partnerships enhancing European innovation allow several ways of collaboration with startups. Knowledge sharing, tailored coaching is the best way to build a supportive environment around innovative healthcare solutions. That’s how Health Venture Lab become listed among the best #HealthTech accelerators in Europe by Sifted – a Financial Times backed publication recently.
Endre Ascsillan - Vice President, GE Strategic and Government Relations for CEE speaking about European Innvovation soucre: HVL
”We are extremely proud of the 25 passionate startups, arriving from all over Europe, representing 16 different countries, from Madrid to Stockholm, down to Athen, just to mention a few. They joined the Budapest, Hungary based Health Venture Lab’s (HVL) next accelerator program in April to innovate and to widen their business competences in the upcoming 6 months”.– said Endre Ascsillan, Vice President, GE Strategic and Government Relations for CEE at his welcome note. “Innovation works best, when industry, academy and entrepreneurs can work together. Our goal is to bring these promising health-related business ideas to the next level by providing opportunities to learn from the best innovative researchers and from GE Healthcare professionals, who have the right experience, knowledge, access and tools to support young entrepreneurs. Teams arrive to HVL with a working prototype where we support their efforts to enter international markets successfully.”
Aging population, outdated healthcare system, shortage on clinicians and medical staff, lack of cost effective and mobile diagnostic devices or increasing volume of patient data are just one of the few challenges participating HVL teams are working on solutions for. They work together in teams organised around topics for IoT, Hardware, Software/Platforms and Medical imaging/AI. HVL created a thriving community of international innovators from the very first moment and provides a great opportunity to all participants and partners to network with like-minded professionals.
Daniel Szemerey - Director of HVL. source HVL
Health Venture Lab program also helps in shifting local healthcare business creation efforts to an international level by linking them with the EIT Health Network.
„We help participants learn how to find Product – Market Fit by providing insight from leading business experts, deep domain knowledge from university, research and financing partners, who share their expertise in the healthcare field and through the international nature of the programme. The access to this network helps European startups reach the market faster and provide novel innovations to society.” – explained Daniel Szemerey, Director of HVL.
GE Healthcare, driver of the HVL initiative is betting big on digital; its experts work not only on connecting hospital departments and physicians more effectively but utilize the masses of data received from its equipment and the collaboration between hardware and software to help clinicians make better and quicker care decisions.
Attila Ferik, Sr Director - Software Engineering, GE Healthcare source: HVL
On HVL Kick-off day – Attila Ferik, Sr Director - Software Engineering, GE Healthcare spoke about the future of Healthcare, how GE Healthcare envisions.
„Innovation is vital and a powerful tool for healthcare. Let just think on how GE Healthcare applies machine learning (ML), AI, complex algorithms, like our Edison platform, that will help to produce real-time and predictive insights. Precision Health is also about using data to optimize drug development, research and disease pathways from diagnosis all the way through monitoring and treatment to make sure that the right actions are taken at the right time, for every patient. Our professionals share valuable insights on healthcare technology with the teams through intensive expert sessions.”
Health VentureLab is a community of many partners – having GE Healthcare and EIT Health in the driver seat - ensuring the support in resources and expertise to make Health Venture Lab a unique Accelerator. Experienced coaches help bring out the best in the teams such as XVision and Tendertec, winners in a healthcare innovation pitch competition, Demo Day organized by Health VentureLab in Hungary.
But read more about the impressive ideas of these startups in an article which was published on GE Healthcare’s online platform for health, science and technology, “The Pulse” which recommends: Two healthcare startups to watch!
Health VentureLab Demo Day jury. source: HVL
From left: Jörg Diehl, Head of Business Development at Aescuvest; Gergely Dóczi – CEO, Futuremed; Ilona Kecskés, Director of Technology Transfer, Semmelweis University; Erőss György, Senior Project Director, GE Healthcare; Kurt Höller, Director of Business Creation, EIT Health
Since the X-ray was discovered in 1895, it’s become one of the most important and widely used diagnostic tools in modern medicine. But its popularity is also a problem for many radiologists. The number of medical images that radiologists must review is growing exponentially, yet many countries don’t have enough radiologists to read these images.
It’s predicted the UK will be short at least 1,600 diagnostic radiologists by 2022. This is already a problem, as nearly 97% of radiology departments can’t meet diagnostic reporting requirements, leaving patients waiting a month or more for their imaging results. The financial toll is growing, with outsourcing image reading costs doubling to $150 million in the last three years.
These numbers are alarming. But for one group of Romanian students, they were inspiring.
The four students recently developed an Artificial Intelligence(AI)-based application for X-ray called XVision, an automated X-ray analysis application that automatically detects anomalies and diseases. XVision uses AI to interpret X-ray images and indicate the possibility that an anomaly is present. Within seconds, it presents the areas of concern, complete with a list of diseases that might cause that anomaly and a heatmap that highlights potentially problematic areas.
The team recently won the “Rising Innovator” prize from EIT Health VentureLab, an accelerator program for European startups in healthcare based in Budapest, Hungary. Health VentureLab offers a 6-month acceleration program starting in April for startup companies and teams in life sciences and healthcare. It includes intensive monthly training sessions, coaching and mentorship, and a Europe-wide network within EIT Health.
XVision won the award during Demo Day, the program’s closing pitch competition that brings together 20 top teams from 14 European countries.
Health VentureLab Demo Day winners source: HVL
XVision applied for the Health VentureLab accelerator because they had the technical skills but lacked the business expertise to bring XVision to market. “We wanted to find mentorship and network that would help us with this area – and we did,” Cristian Avramescu, Technical Lead at XVision.
“Health VentureLab helped us identify new business opportunities, analyze and solve our vulnerabilities, navigate the complicated healthcare business landscape, and develop our network. All in all, they offered more than their value proposition. Taking part in the program has really helped accelerate our startup’s growth,” says Stefan Iarca, Business Manager of XVision.
That’s exactly the point of the program, says Kurt Höller, director of business creation at EIT Health.
“EIT Health, as the largest healthcare initiative in Europe, can make a difference in creating a vibrant and competitive startup ecosystem through its worldwide partnerships in healthcare,” says Kurt Höller, director of business creation at EIT Health.
Health VentureLab partners with several universities and university hospitals, as well as global industry players in medtech, biotech and digital health industry players from around the globe, including GE Healthcare.
“I am always on the lookout for fresh new talent and ideas to keep our business ahead of the curve,” says Attila Ferik, senior director of software engineering at GE Healthcare. “I am glad we have the opportunity to welcome innovative teams from all around Europe and introduce them to our industry.”
Health VentureLab Demo Day at A38 source: HVL
During Demo Day, another company called Tendertec won the Disruptive Product prize for its personalized safety and monitoring system for elderly people. The Wales-based company uses AI to automatically and in real-time alert caregivers in an emergency, empowering them to make data-driven decisions that improve senior care and enhance the quality of seniors’ lives.
“The biggest contribution of the Health VentureLab program to Tendertec has been through the amazing mentors we worked with. After a matchmaking process that ensured the participating companies found the best fit, we were able to choose mentors that helped us advance on multiple levels – mindset, business and product development and strategy are some of the critical areas we were able to make headway in just four months – a true acceleration process in practice,” say Dr. Afroditi Maria Konidari and Rui Zhang, Founders of Tendertec.
