Polish startups in the field of medical technology: one in two solutions is based on artificial intelligence – Puls Medycyny

Almost one in two Polish medtech startups operates in the AI/machine learning sector, and one in four solutions is in oncology, according to the “Top Disruptors in Healthcare” report, summarizing the activities of more than 100 startups.

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47 percent of startups said their solution worked in the AI/machine learning sector, according to partial data in the report.

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The “Top Disruptors in Healthcare” report is an annual initiative carried out by the Polish Federation of Hospitals in cooperation with a team of young directors of medicine, and this year also with a team of health experts. One of its main objectives is to collect information on innovative solutions available on the market, as well as to help establish effective partnerships between startups and medical companies and investors, medical institutions and end customers.

The benefits that startups participating in the report receive and report are: public relations and marketing (32%), expanding knowledge of the startup market (36%), and establishing contacts with business partners (11 %).

We already know the partial results from this year’s edition of the report based on responses from over 100 startups.

In which fields do Polish startups in the medtech sector operate?

The most common areas of activity of Polish startups include:

  • oncology (24%),
  • cardiology (22%),
  • family medicine (20%).

An equally important and growing field in recent years is psychiatry (19%), as the interest in this market and the need of Poles to take care of their mental health increases. This may have been influenced, among other things, by the COVID-19 pandemic, which increased the feeling of isolation during the lockdown.

In last year’s edition of the report, 55% of respondents listed telemedicine as their main area of ​​activity, and artificial intelligence (45%) as the next. This was a significant increase from 2020, where only 30% of startups said they were developing an AI-based solution.

These data seem interesting when compared to This year’s edition of the report, in which most startups (47%) say their solution works in the AI/machine learning space. Next come medical devices (39%), telemedicine (37%) and an independent computer application (35%). This shows the growing popularity of offering AI-powered services and products, which is not surprising given the rapid increase in AI algorithms available around the world – over the past 5 years. , this number was multiplied by 10.

What problems do medtech startup founders face

The summary shows that the biggest problem for startups is promoting and selling the solution (41%), as well as finding an investor and funding (35%). More than 20% of the respondents also indicated difficulties in establishing cooperation with the public party as well as with industrial organizations, universities and medical entities.

96% of startups have a developed business model – slightly more than in last year’s edition (92%). Startups that have already developed their payment model indicate that they intend to offer their product or service in a subscription model (41%) or with a one-time payment (26%).

Startups want to cooperate with medical institutions

Medical institutions’ interest in cooperating with startups hasn’t changed much since last year – although this trend has fallen from 70% to 63%, it is still the most frequently given answer. In the future, this could translate into how quickly hospitals adapt new medical solutions. Moreover, it proves that medical institutions are open to implementing innovations. According to the journal “AI is not Sci-Fi”, published by the Polish Federation of Hospitals in cooperation with the AI ​​Coalition in Health and a team of health experts, the medical solutions, including the report’s medical startups, are already implemented in some hospitals and work very well in practice. Interestingly, startups significantly more often indicated their willingness to establish cooperation with medical institutions in the next 12 months (70%), and only in second place with investors (64%).

Startup funding has increased

The biggest differences from previous editions of the report appeared in the level of funding. In 2020 and 2021, the funding obtained by startups was most often at the level of PLN 1-2 million. It may have been influenced by the popularity of grant programs, such as 01.01.02 POPW, or the BRIdge Alfa investment funds. In this year’s edition of the report, startups most often indicated that their funding amounted to PLN 2-5 million. This in turn can indicate the evolution of their level of advancement.

Legal regulations are the biggest barrier to overseas product development

Polish startups see the essence of expanding abroad and present their solution also outside the national healthcare market – despite the fact that up to 37% of respondents indicated that it was difficult to nationalize the product. Although more than 50% of the startups in the report are not yet present in foreign markets, they indicate that they are considering doing so. They also point out the biggest barriers to expanding their products overseas. These are legal regulations (48%) and problems in establishing business contacts (48%). A positive fact is that Nearly 20% of the startups listed in the report successfully offer their products overseas and have already recorded revenue.

– According to all analyses, there is a growing mismatch between health needs and the availability of specific services and resources in Europe. The “Top Disruptors in Healthcare” report perfectly shows how Polish innovators are responding to these urgent needs. The very fact that one in four startups deals with the critical oncology sector is significant – says Natalia Świrska-Załuska, Startup Program Manager, OVHcloud CEE. – At OVHcloud, we closely follow bold visions and pioneering solutions that help bridge the huge gap between needs and supply. It is more than a necessary report.

Full results of “Top Disruptors in Healthcare” to be announced in June 2022

These are partial results from the “Top Disruptors in Healthcare” report. The rest of the statistics and the final results will be available after the report is officially released in June this year. at the international conference “AI in Health”. The main partners of the report are: PZU Zdrowie, AstraZeneca, Google for Startups and OVHcloud. The supporting partner is Kancelaria DZP.

The media partner of the report is “Puls Medycyny”.

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