Royal Philips announces the launch of its first global start-up collaboration program involving the company’s innovation hubs in the United States, the Netherlands, India, and China focused on the application of artificial intelligence (AI) in healthcare. The program focuses on the application of AI-based clinical decision support tools, such as image interpretation, analysis and integration, and workflow tools, including intelligent treatment plans for radiology, ultrasound and oncology.
After careful analysis, the most promising 19 early-stage startups out of 750 applicants were selected for inclusion in Philips’ incubator program for start-up companies. During the 12-week ‘AI in Healthcare for Radiology, Ultrasound and Oncology’ program, Philips will simultaneously engage with the 19 early stage start-ups from 14 different countries, with the aim of validating their propositions, helping to build, test and scale their ideas, and exploring possible collaborations.
In addition to benefitting from Philips’ experience in the professional healthcare domain, the selected start-ups will have access to expertise in the company’s innovation ecosystem, which comprises hospital, academic, industry and financial partners.
“At Philips, we use intelligent technology to improve people’s health across the health continuum—from healthy living and prevention to diagnosis, treatment and home care – while also increasing the efficiency of healthcare delivery,” says Alberto Prado, head of Philips Healthworks. “We are already working closely with clinical partners to develop AI-enabled solutions that are grounded in scientific research and validated in clinical practice.”
This new collaboration program recognizes the role that start-up companies play in bringing breakthrough healthcare innovations to the market,” Prado adds.