AIA Group Limited and Konica Minolta, Inc. are teaming up to launch the ‘AIA – Konica Minolta Digital Health Accelerator’ in Singapore. The 12 week program supports entrepreneurs and businesses to deliver innovative solutions through integrating data to healthcare delivery.
The Singaporean Government’s spend on Healthcare in Singapore is expected to double to SG$8 billion by the end of 2015, from SG$4 billion in 2011. ‘Digital Health’ solutions present one of the most promising growth segments in the healthcare sector, as innovative solutions empower people to better manage and improve their health and provide better diagnostics and treatment options using sensors, data and imaging that are now within the consumer ecosystem.
Singapore Digital Health Program Details
The program will be run by Nest, a Hong-Kong-based investment incubator which has worked with large corporations to operate customized accelerator program, and aims to nurture start-ups and support the Singapore government’s push on adopting information communication technologies to develop an integrated healthcare delivery system in the country.
Applications are open from December 1, 2015 til January 31, 2016. The program will then kick off on February 22, 2016 and end in June 2016 with a ‘demo day’ by the selected startups.
Patrick Teow, CEO at AIA Singapore said, “This launch is another extension of AIA’s belief in the power of Collaborative Innovation to help manage healthcare costs in Singapore and create value for families here. The protection gap in Singapore is estimated to be US$305 billion, and healthcare spending is expected to increase with government health spending expected to increase to SG$12 billion annually by 2020. Digital health can play a meaningful role in addressing both these issues as we seek to ensure the well-being of families in Singapore.”
