Singapore, Singapore, December 20, 2020 --(PR.com
)-- R3i has announced the launch of the House of MedTech in Luxembourg, providing a fast track acceleration and commercialization pathway for companies ready for scale, through its bases in Singapore, Luxembourg and Silicon Valley. It makes a measurable contribution to transforming societies and healthcare worldwide.
"Today it takes ~17 years to take a MedTech device from invention to clinical use," says R3i Ventures General Partner, Leesa Soulodre. "With private health and life insurance costs on the rise globally and global shocks to supply chains, our pioneers are playing an active role in the digital transformation of healthcare, working closely with payers, industry and governments on personalised medicine, and the transition to value-based care."
The House of MedTech is built on Compass, an AI-based digital fabric, developed in collaboration with UCSF Health Hub, staged across Europe's research institutions. Designed over 18 months with guidance from the Luxembourg Ministry of Economy and LuxInnovation and inputs from a global network of industry stakeholders, Compass connects global healthcare visionaries with the talent, know-how, and access to capital and Incubation, to scale their breakthrough innovations for impact.
R3i is actively seeking export-ready companies with proven clinical studies in their home markets. Priority exporters are those with solutions that reduce the burden of hospitalization, over-hospitalization, or hospitalization; that improve patient outcomes and save lives, and that deliver efficiencies and transparency into the global healthcare value chain.
The Luxembourg Calling Program delivers a no equity, personalised, intensive three-month "land and expands" program, followed by a six-month in-market and capital focused incubation program. Founders are selected from domains of personalised diagnostics, digital health, medical devices, neurotech, digital therapeutics, and the future of food and agritech. Reimbursement is offered via Government export development programs.
R3i's network of Navigators includes seasoned international VCs, experts in healthcare and diagnostics innovation, IP, brand protection and anti-counterfeit, big data, cybersecurity, R&D, and artificial intelligence. Its MedTech Station provides an exclusive Singapore-based IVD partner to deliver a personalised medicine innovation pathway for those seeking access to Asian races.
The House of MedTech program aims to create 120 new jobs per year, contributing to the up-skilling and inclusivity of the labour workforce, and drive equal opportunities across R3i's Digital Health and MedTech ecosystems. An annual impact report will measure its societal and economic outcomes.
Naluri, Peach Intellihealth, Meracle Health, Prosoma, Orbit Health, SmartBeings Zinncare and Stratificare were the first to test its programme's strength while in beta. Meracle Health was recently accepted into the Luxinnovation's startup programme, Lux Fit 4 Start.
"Through the House of MedTech incubation program, we have forged a working relationship with an esteemed PI at the Luxembourg Institute of Health. We can now validate our digital solution in the context of diabetes prevention on the continent. This puts us on a path to secure CE Mark regulatory approval, to accelerate our access to non-dilutive and smart capital in our latest funding round, and firmly positions our European HQ for international scale," stated President and Co-founder, Dr Jeremy Ting.
Applications for the 2021 House of MedTech cohort are open now via F6S.com. Applications close on January 31, 2021. The program starts on 15th March 2021.