Previous year’s winning team continues to profit from global visibility
The Spanish start-up Idoven was the winning team in the competition of 2022 and has subsequently profited immensely from participating in the event. The young company has, in their own words, developed an AI-based platform for “cardiology-as-a-service”. This proprietary AI uses electrocardiographs (ECG) of any length and by any diagnostic tool to improve the accuracy and consistency of the interpretation. Rika Christanto, COO at Idoven, is pleased with the effect of participating at MEDICA and the competition finals on the stage of the MEDICA CONNECTED HEALTHCARE FORUM: “I was very surprised at how global this trade fair is!” The MEDICA Start-up COMPETITION gave her start-up an immense, global visibility, notwithstanding which Idoven also wants to enter the German market.
According to Rika Christanto, it was also helpful to share experiences with other start-ups during MEDICA, for example concerning how to overcome legal obstacles to entering the market. Currently, Idoven is strengthening the partnerships that came out of MEDICA 2022, for example with the company GE Healthcare regarding a project to reduce the necessary efforts for interpretation of ECGs in a clinical setting. “We also signed an agreement with AstraZeneca regarding a cardiac insufficiency project”, says Rika Christanto. This is primarily concerned with avoiding hospitalisation of affected persons. Together with the pharmaceutical company, the star-up is therefore working on solutions to improve individual therapies. To do this, Idoven’s analytical platform uses early data from patient records to estimate the effectiveness of planned treatments and the necessity for changes.
In order to continue this growth course, Idoven is looking for further partnerships, working intensely on the performance of its proprietary AI tools and on the evaluation of the usefulness of their solutions in clinical practice. How important global visibility is for start-ups, and thus participation in internationally successful trade fair events like MEDICA, for example, is illustrated by this figure: Idoven has already managed to gain financial support amounting to almost 20 million US dollars (approximately 18.1 million euros) for the realisation of upcoming projects and further developments.
Healthcare Innovation World Cup: the next generation of intelligent medtech devices
For start-ups, scale-ups and smaller mid-level companies, participation in (and the free-of-charge application to) the 15th Healthcare Innovation World Cup could also be interesting. The focus here is on intelligent “Internet of Medical Things” (IoMT) solutions, e.g., digital biomarkers, smart band-aids or wearables with network connectivity. The 12 finalists, chosen by a renowned professional jury, are invited to present their businesses during MEDICA 2023 on the programme stage of the MEDICA CONNECTED HEALTHCARE FORUM (in Hall 12). The previous year’s winner was ViewMind Inc., a company specialising in the management of neurodegenerative diseases like multiple sclerosis or Alzheimer’s. Mark Edwards, CEO and co-founder of ViewMind Inc., says that while the effects of winning cannot be quantified, “I can say that winning was very helpful to make the company and its products known”. This start-up, too, has completed another round of financing, which was facilitated by their success at MEDICA. The already CE-certified ViewMind product, which is already on the market, was validated in approx. 30 clinical trials on four continents with thousands of patients. Approval by the FDA is currently ongoing.
ViewMind initially addresses the pharmaceutical industry, says Mark Edwards, but also the healthcare sector in general. “We are working on clinical trials with several pharmaceutical companies in order to give them a tool with which to find suitable participants, set up cohorts precisely and measure the effects of therapy with corresponding sensitivity.” The start-up sees itself as a pioneer for the development of precision drugs.
