Event Page - Singapore: AIA cultivates digital health startups
Source: Asia Insurance Review | May 2016
AIA Singapore kicked off its first startup accelerator on 31 March with an Orientation Day held at the AIA Tower. The 12-week programme is designed to support entrepreneurs and businesses to deliver innovative solutions through integrating data to healthcare delivery.
The “AIA – Konica Minolta Digital Health Accelerator” is a collaboration with Konica Minolta, a leading company in digital health imaging technology and industry leaders including Nest VC firm, Microsoft, Amazon Web Services, IBM Softlayer and KPMG.
More than 80 people attended the event comprising AIA Singapore Exco, country and regional staff, industry partners, and Singapore’s innovation partners from the Infocomm Development Authority of Singapore (IDA), Nanyang Technological University and A*Star, together with the eight selected startups.
This was followed by idea pitching from the eight startups which were chosen from more than 130 applications from 30 countries which applied for the programme. The startups had been put through a 14 hour “bootcamp” the day before, where faculty from INSEAD and innovation leaders from Nest and AIA Edge helped them learn the fundamentals of entrepreneurship and refined their ideas.
The audience got to vote for its favourite innovative idea – based on what it thought could benefit the community and could add value to AIA Singapore’s focus of investing in healthcare innovations. Vault Dragon Healthcare, with its innovative Electronic Medical Records emerged the winner and received the Championship belt from Mr Patrick Teow, CEO of AIA Singapore.
During the next 12 weeks, AIA Singapore and AIA Edge will be working closely to bring access of their innovation resources – EDGE LAB and A*Star experts – together with its business expertise to these startups. The founders will receive mentoring from AIA leaders, various statutory boards of the Singapore government and various industry experts; education and training, and practical help to take their businesses forward.
The programme will conclude with a formal “demo day” in Singapore in June 2016, where the startups will be pitching their creative ideas to investors.