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Singapore Ministry of Health to test bed new healthcare tech, offers $1.7 million in fundingYash Ranjan09/12/202214
The Ministry of Health, Singapore has offered a total of $1.7 million in funding to the six new healthcare technologies to develop technology-centered healthcare infrastructure in the country. Singapore Ministry of Health has collaborated with the Temasek Foundation for the initiative. The announcement was made at an event, Healthcare InnoMatch 2022, which was arranged by the Ministry of Health, Singapore under the Center for Healthcare Innovation. The Center for Healthcare Innovation has offered an amount of SG$2.4 million, which converts to $1.7 million, to the six various healthcare technologies. This funding aims to test them for their applicability and their mass production. The Healthcare InnoMatch was founded in 2021 by the Center of Healthcare Innovation with the collaboration of the Temasek Foundation. The Healthcare InnoMatch event has partnerships with many national agencies such as SingHealth Service (SHS), National University Health System (NUHS), and National Healthcare Group (NHG). The event serves as a platform for companies and individuals who are active in healthcare technology to highlight their products to a global audience and to receive funding for their mass manufacturing. At the Healthcare InnoMatch 2022, six various products were selected and offered collective funding of $1.7 million. The six endorsed products at the Healthcare InnoMatch 2022 include, PreSAGE by CoNEX Healthcare, FxMammo by FathomX, KIMIA Recovery Management System by Kinexcs, NuCalm, QTX Magnetic Mitohormesis by QuantumTX, and Us2.AI. PreSAGE by CoNEX Healthcare has partnered with the National Healthcare Group. PreSAGE is an image-based solution that allows the management and forecasting of hospitals, residential homes, and nursing homes. FxMammo by FathomX has partnered with the National University Health System. It is an AI system that analyzes breast cancer through analyzing mammograms, an essential tool for tracking breast cancer. KIMIA Recovery Management System by Kinexcs has partnered with the SingHealth Service. The service aids in the post-surgical rehabilitation of the patients. It is a wearable system that uses an AI assistant to guide the patient through exercise routines. NuCalm partnered with SingHealth Service. It is a technology that helps in falling asleep and reducing stress, using the basics of neuroscience. QTX Magnetic Mitohormesis by QuantumTX partnered with the National University Health System. The system offers functional independence to people recovering from stroke and helps them in rehabilitation. Us2.AI partnered with the National Healthcare Group and SingHealth Service. It offers software that helps in the diagnosis of heart failure. The partnership from the public sector that these six companies have received, will provide them with accelerated working conditions, widely available public databases, and improved connectivity with healthcare professionals and patients. This will help these companies to quickly bring their product into the market to be used in the healthcare industry. To the people living in Singapore, this initiative offers early access to newer technologies in the healthcare sector. Innovative technologies in the healthcare sector help in reducing the rising burden on healthcare organizations. The use of advanced technology such as AI in healthcare, automation software, remote monitoring, digital healthcare, etc. can improve patients' lives significantly.