Washington, DC, January 13, 2016—IFC,
a member of the World Bank Group, has launched TechEmerge, a new program
offering matchmaking and funding to companies with proven innovations for
emerging markets. The pilot phase of this program will focus on health
in India, and IFC is seeking applications from technology companies interested
in scaling their business in this market. Applications can be submitted
through March 6, 2016.
TechEmerge will identify top health technology
innovators globally and match their services with interested healthcare
providers in India. These pairs will together explore how the technology
can be implemented to benefit healthcare delivery and patient outcomes.
The program will provide funding and guidance to commercialize new technologies
in the Indian market.
“We expect that Indian healthcare providers
participating in the program will gain access to a global network of health
technology innovators, while innovators have the opportunity to commercialize
of their technology in India and form new business relationships”, said
Ruzgar Barisik, Senior Investment Officer with IFC’s Venture Capital team.
“Around a dozen leading private sector healthcare providers in India have
signed up and are looking for new technologies for point of care, remote
monitoring, patient engagement, and telehealth, among others.”
The open application launched today invites
health technology innovators around the world to apply to the program.
Innovators will be selected through a competitive process. Companies with
proven technologies are encouraged to apply at www.techemerge.org.
The application deadline is March 6, 2016. Selected innovators will be
invited to meet with TechEmerge healthcare providers in India to discuss
the commercialization of their technology in this market.
Like other developing countries, India faces
the double burden of dealing with communicable diseases and a lack of access
to basic healthcare, alongside a rapidly rising incidence of non-communicable
conditions like heart disease and cancer. Innovations in technology
and processes are essential for expanding access to affordable health services.
Meanwhile, the Indian healthcare market is set to grow to ($280) billion
by 2020, driven by increasing income levels, a growing middle class, longer
life expectancies, and the rise in incidences of non-communicable diseases.
The TechEmerge program is part of IFC’s
approach to catalyze the adoption of new technologies in emerging markets,
and leverage the private sector in India to increase and improve access
to quality health services. IFC has an investment portfolio in the Indian
healthcare sector with commitments of over ($450) million, representing
over 30 percent of its global health care investment portfolio.
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
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 team that invests in innovative companies
with solutions geared at emerging markets. For more information, visit
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