Accenture launches HealthTech Innovation Challenge to foster technology innovation

Programme will help harness the industry’s $6.5billion in start-up funding fuelled by open innovation

Accenture has announced the creation of the Accenture HealthTech Innovation Challenge, which brings together leading-edge start-ups with prominent life sciences and health companies to tackle some of the world’s-greatest health challenges, including access, affordability and transparency.

As part of Accenture’s broader HealthTech Innovation programme, start-ups from around the globe will compete to bring innovative technology and creative solutions forward to improve the way people access and manage healthcare.

Selected finalists will present to an exclusive panel of judges, comprised of senior executives from globally-recognised life sciences and health companies, gaining exposure and access to these industry-leading companies to bring their ideas to market.

This programme from Accenture’s Life Sciences and Health practices is tied to Accenture Ventures, which is focused on accelerating the adoption of early-stage enterprise technology innovations.

This programme aims to help healthcare start-ups advance their business agenda and infuse fresh ideas across the system to improve patient care

“Digital disruption is fundamentally changing the life sciences and health industries, said Anne O’Riordan, senior managing director of Accenture Life Sciences and co-author of the report, Healthcare Disrupted.

“New digital players from within and outside the ecosystem have the potential to make a significant impact to the way the world approaches healthcare.

“With all the activity in the start-up space, many established healthcare organisations are asking how do they decide which innovators can help them best deliver patient care.

“With the launch of the Accenture HealthTech Innovation Challenge, we will identify emerging innovators and disruptors and act as a catalyst by connecting them with the companies who can fast-track market impact.”

The four categories start-up companies can enter within the challenge are:

  • Help ME have easier access to healthcare - where applicants address how the underserved or remote populations can be better supported in their health and lifestyle needs
  • Help ME get better faster - where applicants address how services can be provided to support care plan adherence and improved outcomes; and how real world evidence and/or non-traditional data streams can be used to improve patient outcomes
  • Help ME better manage my health - where applicants address how consumers (patients, caregivers or families) can get the right health information and services at the right time; and how people’s lifestyle needs can be better understood in order to optimise care
  • Help keep MY information private and secure - where applicants address how the privacy and security of a person’s health and lifestyle information can be improved while enabling information sharing and improved care

“This programme aims to help healthcare start-ups advance their business agenda and infuse fresh ideas across the system to improve patient care, said Brian Kalis, managing director of digital health at Accenture.

“We forecast that start-up funding for digital healthcare, such as wearables and virtual health, will reach $6.5 billion by the end of next year.

“This growth continues to be fuelled by open innovation between start-ups and a broad spectrum of stakeholders with the same shared goal of advancing healthcare.”

Two initial pitching sessions will take place in London on 25 November and in New York on 1 December 1. During these sessions, selected start-ups will be invited to pitch to an exclusive panel of judges that includes senior executives from leading technology companies.

The established health and life sciences companies involved in the programme will gain exposure to fully-vetted, cutting-edge technologies as they evolve and potentially disrupt the healthcare industry.

New digital players from within and outside the ecosystem have the potential to make a significant impact to the way the world approaches healthcare

The final judging round will take place at the StartUp Health Festival in San Francisco during the JP Morgan Healthcare Conference on 9 January next year.

Accenture is the lead innovation partner of the festival, which brings together more than 1,000 of the world’s-leading healthcare innovators and investors.

The top entrants in each category will gain exposure and access to leading companies in their target market or therapeutic area. They will also be offered the opportunity to participate in in StartUp Health’s Launchpad programme.

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