NATIONAL, 18 JUNE 2020 – GE Healthcare today announced the graduation of its first batch of startups who were part of Cohort-1 of ‘Edison[X] – Startups powered by GE Healthcare’, its startup collaboration program based out of India. The Demo Day featured five impressive health tech startups, each solving some of the most critical healthcare challenges including Covid-19. The startups — 5C Network, DeepTek, Orbo, Predible and Synapsica showcased their clinical solution, business model, market opportunity and projections to a virtual audience comprising of startups, investors, healthcare players and other corporates.
Cohort-1 startups came onboard in November 2019 after an extensive evaluation process. From the 223 startups who had applied, 24 were shortlisted and finally, five startups were invited to Cohort-1. Throughout the program, GE Healthcare worked with the startups to refine their solutions, got feedback from its customers to iteratively improve the functionality of the solutions, provided commercial and regulatory guidance, access to clinical data, mentorship and skill development programs. The startups were also provided with a zero-equity cash-in-grant of USD 10000.
Nalinikanth Gollagunta, Managing Director, Wipro GE Healthcare, South Asia said, “I am extremely proud of the founders of our first Csohort for the exciting and innovative businesses they are building. Their strength lies in their ability to match their unique technical knowledge and deep business skills to real world healthcare problems. Each of these startups are working on areas that are extremely relevant to GE and our customers. Their game changing solutions are complementary to our offerings and address significant healthcare challenges that exist today. We are looking to offer our customers those choices and intend to partner with start-ups of Cohort-1 on relevant engagement models including taking these solutions to the market and offer them an opportunity to build scale.”
REACTIONS FROM CEOs OF THE GRADUATING STARTUPS ON THEIR EXPERIENCE IN THE PROGRAM:
“In six months, we were able to convert technical synergies into actual products that we are working with clients to deploy.” – Kalyan Sivasailam, CEO, 5C Network
“These six months gave us a great opportunity to understand the entire healthcare diagnostic ecosystem, connect with it, and tap the vast resources available globally within GE.” – Dr. Amit Kharat, CEO, Deeptek
“One of the biggest distinctions of the Edison[X] program was that GE always knew what they wanted to achieve through this collaboration with ORBO. My recommendation and plea to new startups – do not fear to align with big corporations; they are as much as agile as we are.” – Manoj Shinde, CEO, Orbo
“We successfully integrated our lung IQ solution seamlessly with GE’s clinical workflow as well as leveraged their expertise and advance visualization to power up our products.” – Suthirth Vaidya, CEO, Predible
“When working with GE we were exposed to many different aspects of a healthcare organization, a preview of the task ahead of us. Huge kudos to the legal and QA teams at GE for always being supportive and methodical.” – Meenakshi Singh, CEO, Synapsica
“Through Edison[X] we wish to collaborate with the startup ecosystem to create healthcare solutions leveraging the Edison platform and decades of GE Healthcare’s expertise – solutions that will enable preventive healthcare, precision diagnosis and treatment in a timely and affordable manner. We have evaluated the solutions of our five startups and have successfully integrated most of them into the Edison Health Link. This demo day validates the strength of our program and is the start of a deeper, sustainable engagement with these startups which could involve commercialization, joint development and clinical validation of solutions among others”, said Dileep Mangsuli, CTO, GE Healthcare South Asia.
APPLICATIONS OPEN FOR COHORT 2
Edison[X] has now opened registrations for its second cohort. Startups with interest in the space of Advanced Imaging and Visualization, Precision diagnosis and treatment, Computer-aided Detection and diagnosis, Virtual hospitals, data management among others are encouraged to apply. To know more, please visit www.startups.gehc.co and follow the program on twitter @GEHC_EdisonX
- 17 June 2020: Applications open for Cohort 2
- 15 July 2020: Applications close
- 17 -19 August 2020: Business Pitch by selected startups
- 14 September 2020: Cohort 2.0 kick-off
- 03 March 2021: Cohort 2.0 Demo-day