Singapore's Yong Loo Lin School of Medicine at the National University of Singapore, commonly known as NUS Medicine, in partnership with 22Health Ventures, an emerging healthtech investment firm, has unveiled the NUS Medicine Digital Advanced Technology Accelerator (DATA). This initiative, a collaboration between NUS Medicine and 22Health Ventures, began accepting applications today for its first group of startup participants. The 11-week programme is set to start in late September 2024.
Driving innovation in digital healthcare
The accelerator's main aim is to cultivate promising digital healthcare ideas and evolve them into successful businesses that enhance personal health and well-being. The programme's focus includes identifying and advancing digital health companies from Singapore and across Southeast Asia. The partners are committed to facilitating digital empowerment, improving market access, and providing opportunities for funding to achieve global competitiveness.
A powerful partnership
As the first and largest medical school in Singapore, NUS Medicine is well-placed to lead this initiative, creating a dynamic environment that includes healthcare professionals, software engineers, and entrepreneurs. These teams are set to propel technological innovations. 22Health Ventures contributes its global expertise, value-added services, and early-stage funding to help startups access the US market and prepare them for successful outcomes.
Professor Chong Yap Seng, Dean of NUS Medicine, emphasised the futuristic approach of the initiative, “Digital health innovation is the future of medicine. Artificial intelligence and digital technologies will create the next medical breakthrough and catalyse the growth of new therapeutics, treatments and vaccines.” He added, “By partnering with 22Health, we aim to foster and support a culture of continuous healthtech innovation and enable a thriving digital healthcare ecosystem.”
Extensive support for entrepreneurs
The accelerator will interact with its participants through various channels, including hackathons like the NUS Medicine HealthHack, and continuous engagement over the 11-week programme, giving entrepreneurs sufficient time to refine their ideas and strategies. The programme will also offer workshops and activities focusing on global entrepreneurship, intellectual property rights, fundraising strategies, business and financial models, and market education about legal and regulatory issues.
Additionally, the initiative will connect participants with clinicians, payer experts, and other industry professionals to ensure problem-solution fit, clinical validation, and market viability in both Singapore and the US. The accelerator will feature proprietary content modules tailored to entering the US health market.
Paul Scibetta, Co-Founder and Managing Partner of 22Health, commented on the partnership: “At 22Health, we believe that investing in transformative healthtech companies is increasingly important for global health. The Accelerator is well-positioned to accelerate the transition to next-generation health and care and thereby to improve health and wellness for all people.” He continued, “22Health is proud to collaborate with NUS Medicine. We appreciate that the leading scientific and technology research and academic capabilities of our partner will provide early-stage support and clinical validation to enable Singapore's entrepreneurs to reach increasing levels of global competitiveness.”
