U.K. Reaches Out To Indian Healthtech Startups
A doctor works near an electronic patient monitor in the emergency room of a hospital. (Photographer: Daniel Acker/Bloomberg News.)

U.K. Reaches Out To Indian Healthtech Startups

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The U.K. government issued a call-out on Wednesday from healthtech startups from India, alongside Kenya, South Africa and Nigeria, to participate in its flagship TeXchange 2020: Healthcare Innovation event.

The most innovative startups will be selected to travel to the U.K. and participate in the event in February next year.

The event has been categorised as an early initiative of the U.K.-India Tech Hub, announced last year as part of the wider U.K.-India Tech Partnership, which aims to develop U.K.-India tech collaborations, create skilled digital tech jobs and stimulate the digital economy of both the U.K. and India.

“We are giving the brightest global entrepreneurs focused on the development of innovative healthtech solutions the unique opportunity to come to the U.K. and showcase their solutions to the U.K.'s healthcare sector,” said U.K. Digital Minister Matt Warman.

"Texchange will help to build connections for global innovative startups and demonstrate that the U.K. is the place to grow and scale your tech business," he said.

TeXchange has been designed as an immersive three-day programme that offers participants direct access to the U.K.'s top corporate and government agencies through public events, meet-ups and presentations.

The programme will focus on artificial intelligence and big data in healthcare, early detection of diseases, population health, telemedicine, and diagnostics.

Key stakeholders involved will include healthcare startups, British healthcare companies, and leading U.K. service providers and intermediaries, the U.K. government statement said.

As part of the U.K.-India Tech Partnership, the U.K. government said it has delivered a number of initiatives over the last few years to support the buoyant Indian tech sector including the FinTech Rocketship Awards where FinTech entrepreneurs from U.K. and India were given an opportunity to experience their respective tech ecosystems and pitch for investments to grow their new businesses in this first-of-its-kind mentoring programme.

The U.K. government is building an International Tech Hub Network to support entrepreneurs around the globe; stimulate local digital economies; and facilitate innovation partnerships between local tech sectors and U.K. and international businesses.

It said India is home to a thriving digital sector worth approximately $200 billion and is a growing hub for technologies such as artificial intelligence, cyber security, data analytics and a leading manufacturer of internet-connected devices and services.

“Healthcare is one of the fastest growing sectors in India, forecast to be valued at over $280 billion by 2020. There are estimated to be over 5,000 startups in the healthtech space, which raised more than $500 million between 2014 and 2018,” the government statement said.

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