Philips Launches First Global Start-Up Collaboration Program Focused on the Application of Artificial Intelligence in Healthcare

PhilipsRoyal Philips (NYSE: PHG; AEX: PHIA), a global leader in health technology, announced the launch of its first global start-up collaboration program involving Philips' innovation hubs in Cambridge (US), Eindhoven (the Netherlands), Bangalore (India) and Shanghai (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, such as intelligent treatment plans for radiology, ultrasound and oncology. After careful analysis, the most promising 19 early stage start-ups out of 750 applicants were selected for inclusion in Philips' proven incubator program for start-up companies.

Global, fast-track program

During the intensive 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' know-how and 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," said 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."

Adaptive intelligence

AI-based solutions have great potential to improve patient outcomes and the efficiency of care delivery, but such solutions must be based on a thorough understanding of the clinical needs and developed in close collaboration with the care providers who will use them. Philips' vision is to use a combination of AI and other technologies with knowledge of the clinical and operational context in which they are used - a people-centered approach that it refers to as ‘adaptive intelligence'. The goal is to develop integrated solutions that adapt to the needs of healthcare providers and that are embedded into their workflows.

To support the adoption of AI in key healthcare domains, Philips has developed an AI platform for healthcare - Philips HealthSuite Insights - which delivers healthcare-specific tools and technologies to address the full process of building, maintaining, deploying and scaling AI solutions. The tools and technologies available through HealthSuite Insights already enable the machine learning and deep learning applications in Philips' diagnostic imaging solutions, telehealth solutions, and oncology and genomics offerings.

Philips' focus on innovation

Complementing the company’s global research and development program and its acquisitions driven portfolio extensions, Philips has extended its collaboration programs to health technology start-ups and venture capital activities. Philips HealthWorks accelerates breakthrough innovation through internal venturing and external start-up engagement. This program enables the company to assess, foster and monitor promising early stage start-up companies for potential future collaborations, as well as providing Philips with an in-depth view of the most recent developments in health technology from around the globe. In addition to HealthWorks, Philips has a separate team managing venture capital investing, Health Technology Ventures. HealthWorks and Health Technology Ventures collaborate to form a center of excellence for start-up companies looking to partner with Philips.

For further information, please visit:
https://www.healthworks.philips.com

About Royal Philips

Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and enabling better outcomes across the health continuum from healthy living and prevention, to diagnosis, treatment and home care. Philips leverages advanced technology and deep clinical and consumer insights to deliver integrated solutions. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, image-guided therapy, patient monitoring and health informatics, as well as in consumer health and home care. Philips' health technology portfolio generated 2017 sales of EUR 17.8 billion and employs approximately 75,000 employees with sales and services in more than 100 countries.

Most Popular Now

What the Radiologist should Know about A…

This paper aims to provide a review of the basis for application of AI in radiology, to discuss the immediate ethical and professional impact in radiology, and to consider possible...

Hospital Diagnoses Critically Ill Childr…

The Rady Children’s Hospital (San Diego, USA) used Moon, software developed by the Leuven-based (Belgium) company Diploid. Moon is the first software worldwide to use Artificial Intelligence (AI) for the...

AstraZeneca Starts Artificial Intelligen…

AstraZeneca and BenevolentAI began a long-term collaboration to use artificial intelligence (AI) and machine learning for the discovery and development of new treatments for chronic kidney disease (CKD) and idiopathic...

Novartis Presents First-of-its-Kind Algo…

Novartis today announced results from a validation study of the innovative, algorithm-based digital solution MS Progression Discussion Tool, or MSProDiscussTM. The tool aims to support and facilitate a discussion between...

Bayer Joins Sensyne Health Consortium Wo…

Sensyne Health plc (LSE: SENS), the British clinical AI technology company, and Bayer, the life sciences company, announce that Bayer has become Sensyne Health's preferred pharmaceutical partner to work together...

Red Hat Helps Public Health England Use …

Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, announced that Public Health England (PHE), an executive agency of the Department of Health and Social Care...

Chipmunk Health Chooses Philips HealthSu…

Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, announced that telehealth service provider Chipmunk Health, with locations in the Netherlands and Canada, is leveraging the capabilities...

Siemens Healthineers and European Societ…

With their first course under the heading "Intelligence. Innovation. Imaging - The perfect vision of AI," held in Barcelona on April 5-6, Siemens Healthineers and the European Society of Radiology...

Mobile Prenatal App Shown to Reduce in-P…

Using the mobile app Babyscripts reduced in-person prenatal care visits while maintaining patient and provider satisfaction, according to research published in JMIR mHealth and uHealth by physician researchers from the...

Belfast Based Startup to Develop a Mobil…

Liopa, a spin out of the Centre for Secure Information Technologies (CSIT) at Queen's University Belfast (QUB) has announced that it is to deliver a prototype patient/carer communications aid. It...