Shanghai, August 28, 2017 - The 2nd round of the open innovation program Grants4Apps Shanghai 2017 Incubator Program, recently released the names of the top 4 startups selected in the health field in China. The program kicked off in July this year and startups from China whose products and services have the potential for creating value for physicians, patients and consumers were invited to submit their innovative project ideas.
“Congratulations to the 4 successful startups who have won a place in Bayer's Grants4Apps Shanghai 2017 Incubator Program! I am delighted to see again the wonderful innovation spirit of China-based startups” said Celina Chew, President of Bayer Group Greater China, “Since its launch in China in 2016, the Grants4Apps Shanghai Program has focused on nurturing start-ups with digital solutions that tackle a wide range of healthcare issues in China. Bayer is very excited to work with these intrepid innovators, and we look forward to helping the start-ups make progress on their ideas and go-to-market strategies. We believe such collaborations in this vibrant sector will help to contribute solutions for a better life for people in China.”
Since its kick-off, the Grants4Apps Shanghai 2017 Program has seen huge interest from Chinese entrepreneurs, with over 130 startups applying. Drawing on the resources of Bayer Global Operations and the powerful innovative capabilities of Chinese entrepreneurs, the selection process finally narrowed down the applicants for the Chinese young startups in health care field and picked 4 startups for Incubator Plan. They will be involved in the 88-day program training in Bayer’s Shanghai Lujiazui office from August 28. The startups have been selected mainly in consideration of their structural attractiveness, performance, overall vision and development ambitions. The working environment provided by Bayer will support the startups, helping them effectively and efficiently launch their products into the marketplace.
The 4 selected startups are: ChildCare, SmartCloud, Hinounou and Drop Technology.
ChildCare aimed to develop home intelligent stethoscope and fetal heart movement monitoring device. Based on AI (Artificial Intelligence) heart and lung sound aided diagnosis system to achieve the physician judgment through AI algorithm and big data, it could get the professional physician judgment result through their software and hardware technology with the product for family use. As a team of 5 members from Shanghai, ChildCare started the business on Oct, 2015. For now, their home intelligent stethoscope had launched for sales, while the fetal heart movement monitoring device is in the stage of sample development.
SmartCloud focused on the non-invasive coronary artery occlusion functional diagnostic cloud platform, which is for accurate digital analysis of coronary heart disease caused by coronary artery disease stenosis. The 3 team members are the Chinese overseas students graduated from Hopkins University that focused on the project research for more than 10 years since the university. SmartCloud aims to finish the stage of project research as quickly as possible to push the product into the market.
Hinounou aimed to develop the intelligent healthcare companion robot for elderly. As an AI ecosystem, the product could solve the elderly problems like loneliness, insurance and health, and help them for a better healthy life. The team of 4 members from France and Canada started the business 4 years ago. The product is in the stage of research for now, and Hinounou aims to finish the project research to launch the product into the market.
Drop Technology aimed to develop electronic antiperspirant patch product. It’s a wearable skin patch that controls and reduces user’s sweating by providing a non-invasive electrical stimulation treatment and a tracking system controlled by an app. The team of 3 members from Peru started the business in China in Dec, 2015, with the headquarters based in Chengdu. For now, the product is in the stage of development and validating the concept with feasibility for Chinese market.
From September onward, there will be two months of intense communication for the startups which have been shortlisted in Grants4Apps Shanghai 2017 Dealmaker Program, with business challenge owners in Bayer. The final result will be announced in November. For more information about #G4A Shanghai, please follow us on:
Bayer Grants4Apps is a global open innovation initiative, launched in 2013 as a crowdsourcing program. It provides financial support to developers and startups for their software, hardware and technology projects, which contribute to improving health outcomes or pharmaceutical processes. In 2014, the crowdsourcing program was expanded with an accelerator, as a new model of open innovation in the digital health field. Grants4Apps Shanghai was first launced in Shanghai in 2016, it is an 88-day program that Bayer is running for the first time, and that will bring the best of China’s powerful innovation capabilities together with Bayer’s global reach. Companies are picked from China’s young healthcare startups and brought into an environment where they can bring their product to market as quickly and as efficiently as possible. Bayer offers experienced managers as coaches to the startups, in addition to intensive mentoring by external entrepreneurs. Thereby, the Accelerator / Incubator create an ideal environment in which to advance cutting-edge technologies in healthcare and underlines Bayer’s engagement in collaboration with young entrepreneurs. More information is available at www.grants4apps.bayer.com.
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