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

Top 20 Breaking eHealth News of 2018

eHealthNews.eu proudly presents the top 20 most popular breaking eHealth news from 2018. Have a wonderful 2019 New(s) Year filled with health, happiness, and spectacular success!

Artificial Intelligence Advances Threate…

Advances in artificial intelligence have created new threats to the privacy of people's health data, a new University of California, Berkeley, study shows. Led by UC Berkeley engineer Anil Aswani...

Shaping Cloud Selects Highland Marketing…

Public sector cloud transformation specialists Shaping Cloud have chosen Highland Marketing as their marketing and PR partner to help them deliver their growth ambitions in the burgeoning health and care...

Rewired Pitchfest Launched to Showcase B…

Digital health innovators and start-ups are invited to pitch their disruptive ideas and prototypes to NHS digital leaders and leading healthtech investors at the new Digital Health Rewired event next...

Allscripts Joins with Microsoft to Explo…

Today, Allscripts (NASDAQ:MDRX), a global leader in health care information technology, announced a collaboration with Microsoft focused on implementing an innovative, integrated model for clinical research, aiming to enhance clinical...

Merck Welcomes Ten New Startups to its I…

Merck, a leading science and technology company, today announced the ten startups that will be joining the seventh intake of its Accelerator program at the Merck Innovation Center in Darmstadt...

First Smartphone App to Detect Opioid Ov…

At least 115 people die every day in the U.S. after overdosing on opioids, according to the National Institute on Drug Abuse. And in 2016, illegal injectable opioids became the...

Stanford Researchers Create a Wireless, …

A new device developed by Stanford University researchers could make it easier for doctors to monitor the success of blood vessel surgery. The sensor, detailed in a paper published Jan...

AI Approach Outperformed Human Experts i…

A research team led by investigators from the National Institutes of Health and Global Good has developed a computer algorithm that can analyze digital images of a woman's cervix and...

Digital Health Consultancy Invests in Cy…

Digital health consultancy Populo Consulting has secured Cyber Essentials Plus certification, in a move that demonstrates its commitment to operating to the same high standards as its NHS clients. Cyber Essentials...

Boehringer Ingelheim Initiates a Collabo…

Science 37, an industry leader in virtual clinical trials, and Boehringer Ingelheim announced a technology enterprise collaboration agreement that will support Boehringer Ingelheim in running remote clinical trials. Science 37...