Healthcare Innomatch 2023 Timeline

30 May – 21 Jul, 2023

Shortlisting Round 1

The panel of judges from Healthcare InnoMatch 2023 and its partner healthcare clusters will shortlist close to twenty (20) Start-ups/SMEs to move onto the next round. The evaluation criteria will be the following:

• Healthcare Need & Relevance
  • Solution addresses important healthcare problem/need and is according to the Challenge theme and problem statement.
  • Solution is suitable and relevant to the healthcare setup and system of Singapore Health Services (SHS), National University Health System (NUHS), National Healthcare Group (NHG).
• Innovation
  • Solution has demonstrated innovation and competitive advantage over current available solutions.
• Near Market or Market Ready
  • Solution is:
    • Technology Readiness Level (TRL) 7 and beyond or Healthcare Translational Level 3 and beyond.
    • Has prior clinical validation, demonstration of efficacy or has been test bedded/ implemented with different use cases would be preferred.
    • Has prior safety and regulatory compliance registration/ licensing (Licensing is not mandatory requirement, but these aspects can be used as a gauge of solution maturity).
• Impact
  • Patient/Community of Carers: Solution demonstrates clear outcomes and impactful benefit to Patient/Community of Carers[1].
  • Healthcare System: Solution demonstrates a clear potential for impactful benefit to hospital and/or system outcomes (i.e. Better value and cost effectiveness for the patient and/or health system.
  • Environmental: Solution demonstrates environmental sustainability (e.g. lower carbon footprint in its production, use, or disposal).
    • Better patient health outcomes (including but not limited to clinical, functional and patient reported outcomes)
    • Improved accessibility of care (including but not limited to physical access, time, availability of care professionals)
    • Increased quality of life and social wellbeing to allow patient population to make good decision for their own health and live happier in the community
    • Reduce the necessity and frequency for the patients to visit the hospital and manage their health longer and better in the community
• Ease of Transition to adopt by users
  • Solution demonstrates:
    • Ease of transition into mainstream use by patients, carers, staff (e.g. ease of implementation into workflows, accessible, convenient to use); and
    • Affordability / cost-effectiveness.

The results will be announced by 22 July 2023.

24 Jul – 1 Sep, 2023

Shortlisting Round 2

Between 24 July to 1 September, close to twenty (20) Start-ups/SMEs will be invited to present their solution during the interviews with our clinical partners and reviewers. The evaluation criteria of the solutions will be the following:

• Business Plan
  • Solution demonstrates sufficiently feasible business plan market strategy (such that if the solution test bed is successful, the company has the ability to supply the solution to the Public Healthcare Institutions (PHI)).
  • Solution demonstrates a potential for financial sustainability (e.g. how is the product priced to achieve self-sustainability after test-bedding) such that, if the solution test bed is successful, the company has the ability to supply the solution to the PHI.
  • The team is well structured and has the required skillset.
• IT Viability
  • Will there be any potential issues on the compliance, regulatory, system integration and sustainability of the solution (i.e. IT operating costs) should the solution be adopted by clusters?

Approximately close to eight (8) Start-ups/SMEs will be selected to move onto the final round.

Announcements of results for this round will be made by 2 September 2023.

4 Sep – 22 Sep, 2023

Coaching & Final Event

Finalists Start-ups/SMEs will be coached by partner healthcare clusters experts (on value proposition of solution) and Temasek Foundation (on business plan) to fine tune their proposal for the finale event. Coaching on pitching will also be provided.

Finalists will be given approximately one (1) week to further fine tune the proposals for the finale event that will take place on 29 September 2023 (physical event, overseas participants will attend via online platform if unable to participate locally in Singapore).

Finalists will pitch to the selection panel composed of senior management and domain experts from the partner healthcare clusters. Up to three (3) winners will be selected at the end of the Challenge. Guidance on submission materials for the finale event will be provided at a later date to shortlisted participants. Stay tuned for more information regarding the Finale Event!

Oct 2023 onwards

Next steps for the winners

Successful winning Start-ups/SMEs will be matched to one of the participating healthcare clusters to carry out test-bedding.

Winners will be granted three (3) months of preparation time to finalise the project agreement (and additional three (3) months if ethics approval is required); up to six (6) months to complete test-bedding; and up to two (2) months to complete the evaluation.

Test-Bedding & Evaluation (For Selected Winners)

Test-Bedding Phase (October 2023 – September 2024)

• Refine the test-bedding protocol, and define success criteria of the test-bedding project with the partner healthcare cluster. You would also define the pricing for subsequent purchase, subject to the solution meeting pre-agreed success criteria. You may be required by your partner hospital to supplement more documentation to facilitate the test-bedding and potential adoption. A Project Agreement should be set up within three (3) months (an additional three (3) months may be granted if ethics approval is required).
• Complete test-bedding in a simulated and/or clinical environment complying to regulations and institutional policies in the partner healthcare cluster. This should be completed within six (6) months.

Evaluation Phase (October 2024 – December 2024)

• Upon completion of the test-bedding phase, the partner healthcare clusters would evaluate the success of the test-bedding project. The partner healthcare clusters may engage an independent expert for the purpose of evaluating the proof-of value/test-bedding project at their discretion.