Five healthtech firms graduated the first batch of GE Healthcare’s India startup collaboration programme Edison[X], the company said on Thursday. The Chicago, Illinois headquartered firm will partner with these startups to help them scale.
The demo day featured 5C Network, DeepTek, Orbo, Predible and Synapsica, which presented clinical solutions, business models, market opportunities and business projections to a virtual audience comprising startups, investors, healthcare players and other corporates, according to a statement.
During the seven-month programme, GE Healthcare provided the startups with a zero-equity grant of $10,000 to refine solutions and improve functionality, offered commercial and regulatory guidance, and allowed them access to clinical data, it said.
“Their (startups) game changing solutions are complementary to our offerings and address significant healthcare challenges that exist today. We are looking to offer our customers those choices and intend to partner with startups of Cohort 1 on relevant engagement models, including taking these solutions to the market and offer them an opportunity to build scale,” Nalinikanth Gollagunta, managing director for South Asia at Wipro GE Healthcare, said.
The five startups chosen among 223 applications are as follows:
5C Network: Founded in 2014, the Bengaluru-based radiology startup helps hospitals and diagnostics centres get in touch with radiologists. It is backed by investors such as Unitus Ventures and Axilor Ventures.
DeepTek: The Pune-based radiology startup uses artificial intelligence (AI), cloud and crowd computing to reduce costs and workflow processes for imaging teams, which cuts the time taken to procure radiology scan results. Set up in 2017, it counts GHV (Green House Ventures) Accelerator, Japanese medical imaging solution provider Nobori, information technology services firm NTT Data and Pentathlon Ventures as investors.
Orbo: The Mumbai-based computer vision and AI startup, founded in 2016, provides visual enhancement solutions such as face transformation, virtual makeup and deep learning. It is backed by investors such as Venture Catalysts and YourNest Capital Advisors.
Predible: Founded in 2016, the Bengaluru-based startup builds AI-powered apps that interpret medical scans for radiologists diagnosing cancer. It is yet another investee portfolio of Unitus Ventures.
Synapsica: The startup provides AI-enabled diagnostic radiology workflow and reporting. Founded in 2017, it was also a part of Y Combinator’s winter batch of 2020.
Additionally, Edison[X] has announced its second cohort, applications for which will be accepted till July 15. Startups in sectors such as advanced imaging and visualisation, precision diagnosis and treatment, computer-aided detection and diagnosis, virtual hospitals and data management will be considered, the statement added.