Widespread digitization has given a big boost to the transformation of the entire healthcare system from reactive to proactive. Whereas previously; the system worked by the patient starting to seeking medical advice only when they were not feeling well, then someone collected data confirming the diagnosis made. But now, wearable devices allow the patient’s condition to be constantly monitored, and when abnormalities are detected – doctors already have a dynamic and comprehensive picture of their state. In addition, we are witnessing truly revolutionary breakthroughs in discoveries: scientists and researchers are working on editing the DNA in human embryos, robots are conducting surgeries, people are implanted with organs created on 3D printers, etc. Max Polyakov keeps up with medical technology innovations as he earned a master’s degree in medicine and finds it prudent to support startups aimed at solving biological problems. This is the first time that Max Polyakov has decided to take part in an event, which he did not initiate on his own.
The startup competition is held by Innovation House jointly with the Borsch Ventures. In light of the brain drain in Ukraine, this challenge is aimed at offering support to residents, who come up with medical-focused projects at any stage: idea, pre-seed, prototype, or a finished product. Ultimately, researchers and innovators are provided with the opportunity to introduce their developments to both the British and Ukrainian medical communities, business angels and investors. Among the Ukrainian judges there are also Michael Ryabokon, cofounder of Association Noosphere and Noosphere Engineering School, and Vadym Biloshytsky, Deputy Director for Research at Romodanov Neurosurgery Institute of the National Academy of Medical Sciences of Ukraine.
The final stage will be held on the IForum in April and the winner in this category will present his project at the Medicine and Innovation UMAUK Annual Conference in May 2018. Finalists are encouraged to give a short pitch and demonstrate that they deserve to participate in the acceleration programs in London to attract investment. Apart from the challenge, this is a good chance for the finalists to listen to conference talks on hot topics relevant to healthcare from leading lecturers, scientists, and researchers.
In advance of the MBioS Challenge Max Polyakov gave an interview to Innovation House on the impact of new big data on the medicine of the future. In this interview he noted that the investment portfolio of Noosphere Ventures has three medical projects – Thync, Circle Medical, and KangarooHealth. Also they are keeping a close eye on the finalists of the Vernadsky Challenge – Bioton, HertIn, and Cardiomo. And wherever possible, he tries to assist them – thus, the MUSIC-Med project (finalist of 2017) keeps on developing its prototype in the laboratory of our Noosphere Engineering School.
In addition Mr. Polyakov pointed out that he believes that new big data will be the basis for future medicine. Such data will be collected by the patients themselves, thanks to the availability of new diagnostic tools and their initiative to independently monitor their bodies. The miniaturization of sensory technology, the development of wireless communication and computing technologies allow patients to relocate clinical monitoring and treatment outside of the hospitals. These devices are mostly useful to the patients interested in smart and portable devices and to pharmaceutical and insurance companies as well. He hopes that the MBioS Challenge will spark the interest of startups working in narrow fields – the medical field, in this case. And, consequently, they may become part of a startup ecosystem of high-level professionals in the healthcare industry.
It’s time to destroy the associative array “startup – smoothie – coworking” and replace it with “Research – startup – ROI”.
See also:
Jamie Hyneman Joins Max Polyakov to Judge Best Hardware Startups at Vernadsky Challenge 2017
Max Polyakov announces the Vernadsky Challenge 2016 Winners and Doubles Grand Prizes