Hyderabad's Start-Ups Invited to Apply for Digital Health Innovation Challenge

Hyderabad: Medix Global, a pioneering healthcare management company, today announced the launch of the Digital Health Innovation Challenge 2023. The challenge invites healthtech start-ups and innovators creating cutting-edge digital health solutions to address healthcare issues linked to women’s health and mental health.

The challenge is aimed at identifying start-ups that are working on solutions aimed enhancing accessibility, improving the quality of healthcare and promoting the long-term viability of the healthcare ecosystem in India. The deadline to submit entries for the challenge is July 21st.

India's economy has been witnessing remarkable growth. However, the participation of women in the workforce has declined over the years highlighting the need for providing better care for women's physical and mental health.

Mental health is also a significant concern that directly impacts productivity and economic growth. Indian employers bear a staggering cost of approximately USD 14 billion each year due to mental health issues. According to the most recent survey conducted by India's National Institute of Mental Health and Neurosciences (NIMHANS), nearly 150 million Indians require mental health care services, yet only around 30 million individuals are actively seeking such care. Research also indicates that 40% of individuals who confront mental health challenges refrain from seeking assistance due to the stigma attached to it.

Medix's Digital Health Innovation Challenge 2023 seeks to encourage entrepreneurs to present their ground-breaking ideas, products, or services that leverage digital platforms, mobile applications, telemedicine, artificial intelligence, and other cutting-edge technologies. By fostering collaboration and ingenuity, the challenge aims to propel the development of innovative solutions that will revolutionize women's and mental healthcare outcomes in India.

Speaking about the Digital Health Innovation Challenge 2023, Mrs. Sigal Atzmon, Chief Executive Officer, Medix Group said, “The national statistics and decreased workforce participation highlight the need state for addressing women and mental health in India. While significant steps have been taken in this area, it is our collective responsibility to work towards addressing these issues as well. Our Digital Health Innovation Challenge 2023 will create a platform for start-ups and innovators who are working to address these issues and help them scale their offerings.”

To participate in the Digital Health Innovation Challenge 2023, start-ups are invited to submit their applications through the official competition website at www.medix-startups.com. The submission deadline for entries is July 21, 2023.

A panel of distinguished judges, consisting of healthcare experts, investors, technology leaders, and influential figures in women's health, will evaluate the submissions based on innovation, feasibility, scalability, and potential impact. The judges include: Mrs. Sigal Atzmon, Chief Executive Officer, Medix Group; Prof. David Zeltser, Global Medical Director, Medix Group; Mrs. Neerja Birla, Founder & Chairperson at Aditya Birla Education Trust, Founder & Chairperson, mPowerMinds; Mr. Gordon Watson, Chief Executive Officer Asia & Africa, AXA Group; Mr. Sanjay Kedia, Country Head & Chief Executive Officer, Marsh India; Mr. Naveen Tehilyani, Chief Executive Officer, Tata AIA; Mr. Ajay Nanavati, Chairman, Quantum Advisors; Mr. Yaron Daniely, General Partner, aMoon Fund, Ms. Padmaja Ruparel, Co-founder, Indian Angel Network, Ms. Bala Deshpande, Founder Partner, MegaDelta Capital/Senior Managing Director-New Enterprise Associates (NEA INDIA), Ms. Seema Chaturvedi, Managing Partner & Founder, Achieving Women Equity Funds (AWE), Ms. Sudha Shivkumar, President FICCIflo, and Ms. Anat Bernstein Reich, Chief Executive Officer BDO  India-Israel Investment Banking.

The two-month challenge will conclude in August 2023. Medix Global will actively support the winners in providing access to potential funding, validating product-market fit, mentorship and driving the implementation and adoption of their solutions to address the pressing healthcare challenges in India.