Enabling Healthtech Is Essential to Attain Future Global Wellbeing Healthtech breakthroughs across the world have displayed an ability to overcome legacy industry challenges, and improve access to healthcare services.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Healthtech is emerging as a beacon of hope for improved healthcare delivery and better medical outcomes.
Driven by a growing appreciation for the convergence of tech such as artificial intelligence (AI) with healthcare, an array of innovative products and solutions is becoming available to raise the efficiency of service delivery, improve diagnostics, and provide personalized and patient-centric care.
Healthtech breakthroughs across the world have displayed an ability to overcome legacy industry challenges, and improve access to healthcare services. Wearable devices equipped with health monitoring features enable individuals to proactively manage their health and prevent the onset of chronic conditions, while digitized medical records and insurance procedures help to simplify and streamline complex patient management frameworks.
The appetite for such innovation is unlikely to taper off, given the nature of healthcare challenges that are expected to shape the diverse needs and priorities of growing middle- and old-aged populations, as well as socioeconomic budgets around the world. According to the Economist Intelligence Unit, climate change alone will threaten healthcare systems, as heatstroke and natural disasters increase, and health providers and pharmaceutical companies come under more pressure to cut emissions.
This outlook makes it even more essential that public- and private-sector efforts are aligned to empower startups and entrepreneurs –the lifeblood of the healthtech movement– to redefine and revolutionize the future of meaningful medicine. Nurturing entrepreneurial creativity and ambition with guidance, mentorship, and access to investment is an essential part of this journey, and it is to strengthen these pathways that in the UAE, in5 and Dubai Science Park -TECOM Group PJSC's startup incubator and science-focused ecosystem, respectively– launched the in5 Science vertical in June 2023.
Related: 10 Insights On The Business of Healthtech In The MENA Region
in5 Science is aligned with strategic priorities such as those underlined by Dubai Economic Agenda "D33," Dubai Research and Development Program, and We the UAE 2031 to support homegrown and international founders in futureproofing industries such as healthcare and advanced manufacturing. Its ecosystem includes innovators and disruptors like RelphaCare Technologies, a social healthcare tracking platform that enables real-time communication and monitoring by doctors and family, and Detectiome, which in October 2023 announced Revonco, an AI-powered multi-cancer early detection test designed for the Middle Eastern population's unique genetic makeup.
These successes matter because they reiterate the life-changing promise of healthtech innovation, and the possibilities that can be transformed into tangible solutions that solve the world's most complex problems. From remote patient monitoring to AI-powered diagnostics, healthtech is already transforming traditional models and services into more proactive, preventive, and patient-centric approaches that will better serve future populations. Our endeavor at Dubai Science Park is to serve as the glue that brings and binds together innovators and creative thinkers from around the world to facilitate this transformation.
With more than 450 industry leading customers including Pfizer, AstraZeneca, Virax Biolabs, and Innovate Life Science Lab, our district serves as a catalyst for collaborative healthcare innovation and for ideas to converge. The network of more than 5,500 professionals within our ecosystem -which is also home to dedicated research and development labs operated by industry leaders like Himalaya, and offers cross-sector collaboration opportunities through its sister districts at TECOM Group such as Dubai Knowledge Park, Dubai Industrial City, and Dubai Internet City– further empowers innovators to build invaluable connections with researchers, scientists, and investors from all walks of life.
Such networks are essential for the healthtech value chain –be it legislators drafting approvals structures, researchers working on new drugs, technologists rethinking insurance processes, or doctors enhancing telemedicine services– to address multifaceted industry challenges through the cross-pollination of ideas between diverse experts. As we navigate the challenges of an evolving healthcare landscape around the world, the synergy between technological advancements, research, and innovation enabling platforms will continue to drive the growth of healthtech that delivers not just product-led advancements, but actionable solutions that can enhance and save lives.
In line with the UAE's and Dubai's goals to deliver globally impactful social innovation, Dubai Science Park and in5 Science will continue to unite the brightest minds in healthtech to brainstorm, innovate, and, ultimately, change the landscape of healthcare. We welcome you along this journey.
To read more about the transformative innovation of digital health in 2023, read the full report here.
This article was originally published on Lucidity Insights, a partner of Entrepreneur Middle East in developing special reports on the Middle East and Africa's tech and entrepreneurial ecosystems.
