New Delhi, India, June 15, 2016—IFC,
a member of the World Bank Group, attracted more than 300 applications
from health technology companies from 29 countries, interested in enabling
better health services in India, and matched the top proposals with Indian
healthcare providers at a Health Innovation Summit in New Delhi today.
The summit is part of the pilot phase of IFC’s TechEmerge program, which
aims to catalyze the adoption of innovative technologies in emerging markets
by bringing technology innovators and healthcare providers together with
a goal to improve healthcare delivery and patient outcomes.
Over 200 people attended the summit, including CEOs and senior representatives
from Indian healthcare providers, CEOs/Founders of health tech companies,
strategic partners in the healthcare ecosystem, and development partners.
Participants had the chance to see demos of best-in-class innovative tech
products, and hear from industry leaders.
Anjan Bose, Secretary General of NATHEALTH (Healthcare Federation of India)
said “India faces many challenges in order to serve millions of patients
with quality, accessible and affordable healthcare. NATHEALTH’s vision
is to bring together various stakeholders in the healthcare ecosystem to
work collaboratively on a common platform to help address these challenges.
IFC’s TechEmerge program, which looks to connect health tech innovators
globally to healthcare providers can have significantly positive impact
on India’s healthcare landscape.”
Over 20 Indian healthcare providers attended the event, their facilities
serve regions across India with over 50,000 beds in 400 locations. They
ranged from multi-specialty hospital networks to specialized clinics and
labs in rural and urban areas and cut across a broad spectrum of disciplines,
including cardiology, oncology, nephrology, and ophthalmology, among others.
Over a two day period, more than one hundred 1-on-1 matchmaking meetings
between healthcare providers and health tech companies are taking place,
which are expected to lead to several new commercial partnerships. IFC
has a pool of $1 million available to support the implementation of pilot
“With unprecedented economic growth that has drastically boosted the demand
for better healthcare access, India needs to constantly leverage the best
technological innovations in the world, to transform the industry to provides
quality healthcare access to the masses at affordable rates. IFC,
through its decades of work across investment and advisory in the sector,
is well positioned to act as a bridge to connect global health-technology
innovators to healthcare players in India” said Jun Zhang, IFC Country
IFC has an investment portfolio in the Indian healthcare sector with commitments
of over $450 million, representing over 30 percent of its global healthcare
investment portfolio. This includes investments in companies such as Max
Healthcare, NephroPlus, Eye-Q Vision and Portea to help them expand services
in India. IFC has also supported state governments by providing advisory
services and bringing in reliable private players to extend affordable,
quality medical care in low-income Indian states.
“TechEmerge can help accelerate the adoption of new technologies and business
models across emerging markets, where the potential for positive impact
is enormous”, said Sérgio Pimenta, Director and Global Head Manufacturing,
Agribusiness & Services, IFC. “We are looking to scale TechEmerge
to a global program, serving as a platform that supports the adoption of
innovative technologies in multiple regions and sectors”, he added.
The TechEmerge Program is being implemented in partnership with the Finnish
Ministry of Employment and the Economy, and the Israeli Ministry of Economy
and Industry, and is supported by Health 2.0.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity.
IFC has a dedicated venture capital group that invests in sustainable technology-driven
ventures that make an impact in emerging markets. Our goal is to spur innovation
globally. The venture capital group invests both in local businesses based
in emerging markets, as well as increasingly in U.S. and Europe-based companies
with business solutions geared towards emerging markets. To date, IFC has
invested almost $1 billion in ventures, including in healthcare, education,
consumer internet (including e-commerce), and cleantech.
For more information, visit www.ifc.org.