As a global leader in health technology, Philips, or Royal Philips, has opened a collaboration programme for 19 start-ups to join the Philips incubator program.
The initiative is a global collaboration working across the Philips innovation hubs across the world with the focus on improving AI in healthcare.
The global collaboration program includes intelligent treatment for radiology, oncology and ultrasound. It also covers AI clinical decisions support tools such as image interpretation, analysis and workflow tools.
Out of 750 applicants, 19 of the most promising start-ups were selected for the incubator program.
How it works
The fast-track program takes place over 12 weeks. During this time Philips will engage with all of the early stage start-ups, which come from 14 different countries.
While AI has already proven its ability to improve patient outcomes and the efficiency of care, it is important not to lose sight of the patient-centred approach.
Accelerating breakthrough innovation
With the collaboration programs, Philips aims to speed up breakthrough innovation within the health industry. They are doing this through supporting internal venturing and external start-up engagement.
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At CES 2019, the company was presenting its new Pria by BLACK+DECKER Home Care Companion, a smart device that can dispense medications at the right time and a digital voice assistant that can help with managing one’s health, scheduling tasks, and keeping in touch with caregivers should something happen.
The device is built in cooperation with the Pillo dispenser we wrote about last year from a company called Pillo Health.
The goal of Oscar is to do to health care what Uber did to the taxi industry: use smart digital technology to make everything faster and easier for customers, and then use the data gathered to build radically new services, which can collect more data that leads to new services. Ideally, Oscar would like to accomplish this without cracking as many eggs on its own head as Uber did.
Alphabet, Google‘s parent company, invested early in Oscar through its venture capital fund Capital G and its health services spinoff, Verily. But today they’re announcing a much larger, and more strategic, investment of roughly $375 million.
Mario Schlosser, the CEO of Oscar Health, wants technology to cure what ails the health care industry. And now Alphabet, Google’s parent company, is betting $375 million on this digital panacea.
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