IFC Launches TechEmerge Brazil to Spur Technology Innovation in Brazilian Healthcare
Washington, D.C. - February 5, 2018 (Investorideas.com Newswire) IFC, a member of the World Bank Group, has launched TechEmerge Health Brazil, a matchmaking program offering market access and funding to global technology startups with proven health innovations relevant to Brazil. IFC is seeking applications from technology companies interested in scaling their business in this market. Applications can be submitted at www.techemergebrazil.org through March 10, 2018.
TechEmerge will identify top health technology innovators from around the world and match their services with interested healthcare providers in Brazil. Together these companies will explore how technology can benefit healthcare delivery and patient outcomes. TechEmerge will provide funding and guidance to help bring these new technologies to the Brazilian market.
"New technologies are transforming healthcare delivery and can improve affordability, reach, and operational efficiency," said Mary Porter Peschka, Director of IFC's Cross-cutting Advisory Solutions. "IFC's TechEmerge Program brings innovations to emerging markets, where they are needed most. In Brazil, more than 20 large healthcare systems have already signed up to the Program and are looking for new technologies in areas such as patient engagement, clinical data analytics, artificial intelligence, and point of care, among others."
The open application launched today invites health technology innovators from around the world to apply to the program. Innovators will be selected through a competitive process. Selected innovators will be invited to meet with TechEmerge healthcare providers in Brazil to discuss how to commercialize their technology in this market.
Brazil is faced with a shortage of skilled doctors and nurses, variable quality of services, long wait times, high cost of care, and a growing burden of non-communicable disease, such as heart disease, diabetes, and cancer. New technologies and innovative business practices are key to addressing these challenges. Meanwhile, the Brazilian healthcare market, the 8th largest in the world, is set to grow to $232 billion by 2021, offering great business and impact potential for global health tech innovators.
The TechEmerge program is part of IFC's approach to support entrepreneurship and innovation in emerging markets, and leverage the private sector in Brazil to increase and improve access to quality health services. IFC has a global investment portfolio of more than $1.7billion in the healthcare sector. The program is being implemented in partnership with the Finnish Ministry of Economic Affairs and Employment and the Israeli Ministry of Economy and Industry. It is supported by Bionexo, a Brazilian company offering digital solutions for the healthcare industry.
IFC-a sister organization of the World Bank and member of the World Bank Group-is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit www.ifc.org.
Bionexo.com is a Brazilian technology company that offers digital solutions to the healthcare industry focused on process management and procurement. Its marketplace currently holds a community of more than 1,400 healthcare providers and over 10,000 suppliers, generating more than $2.5 billion in annual transactions. Founded in 2000, it is the main reference for digital health in Latin America, currently operating in five countries. Bionexo.com has long been recognized at the forefront of innovation within the health-tech sector, including through its newly launched whizHealth initiative that focuses on fostering the digital healthcare entrepreneurship ecosystem.
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