(MENAFN- The Peninsula) |
The Peninsula
World Innovation Summit for Health (WISH) 2022's innovation competitions have seen an increased number of applicants with an interest in integrating AI and machine learning into products.
The initiative has also seen increase in applicants from Qatar who make up almost half of the candidates.
WISH invests in people and companies that will transform the delivery of healthcare, said Head of Innovation at WISH, Mahmoud El Achi.
“WISH celebrates the spirit of innovation and entrepreneurship through WISH Innovation Competitions which showcase innovation in healthcare and celebrate its creators. We connect innovative ideas and individuals from across the world with investors, partners, industry experts, and patients,” he told The Peninsula.
This year, 20 healthcare entrepreneurs from 13 countries will showcase their healthcare innovations at the summit. They have been selected from nearly 700 applicants to this year's WISH Innovation Competitions.
The competitions comprise two categories: Spark (early-stage startups) and Booster (established startups looking to scale).
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As many as 330 applicants were from Qatar and rest from abroad. El Achi said the startups applying for the competitions every year reflect the trends in the healthcare industry. “The majority of those who applied ahead of our last summit in November 2020 focused on improving telemedicine and the digital delivery of healthcare, for instance. This year, we have seen more applicants looking to integrate AI and machine learning into their products to create more accurate, cheaper, and personalised treatment plans for patients, with a particular focus on supporting and developing preventative rather than curative medicine”.
He said investors also show more interest in AI-based start-ups. WISH holds a biennial gathering of global leaders, healthcare policymakers, practitioners, and industry experts to tackle the world's most urgent healthcare challenges. Ahead of every summit, WISH invites healthcare innovators worldwide to apply for its Innovation Competitions which culminate in qualifying applicants winning the opportunity to exhibit at the summit. This year WISH received the largest number of applications to date. It has supporte 130 innovators from 25 countries through the competitions so far.
“WISH will provide mentoring workshops on topics such as business modelling, gaining customer traction, and marketing, as well as media support for up to a year. During the summit, WISH will announce the top two out of the 20 innovators, who will win $15,000 to help expand their startups,” said El Achi. The innovators will also receive a myriad of benefits during the WISH 2022 Summit, including the opportunity to network with investors and global health leaders, policymakers, and the other innovators at a global stage.
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