The jury had a tough task last week to select the final 5 finalists of the Westpac #HelloHealthTech innovation challenge.
Having received around 250 applications in just 3 weeks, it is safe to say there is no shortage of innovative ideas on how to improve the healthcare industry with technology. The majority of the submissions came from NSW, with the second and third place taken up by Victoria and Queensland. In addition, 40% of the Top 40 were women-led startups.
The #HelloHealthTech competition focussed specifically on how to improve productivity. We saw plenty of good ideas leveraging AI and VR technologies, as well as productivity solutions ranging from mobile health management applications, hospital and practice communication tools, data management solutions and really impressive capabilities in modern diagnostics.
What we learned is that there is plenty of room for creativity within in the healthcare sector, and the judges would have truly liked to make many more than five nominations for the finalists.
What happens next?
We’ll be announcing the five finalists, along with details on how to vote in our People’s Choice award, in the next two weeks. With the finalists either in the prototyping or pilot phase of their business, they will be part of a 2-week bootcamp to develop their business strategy using the lean startup methodology, to validate their customers and, last but not least, to prepare them for the Pitch Night on the 19th of July. During this event, which will be attended by the big names and VIP’s of the healthcare industry, one of the five finalists will be awarded with a $40,000 cash prize.
We will be sharing much more about the finalists and their businesses over the next few weeks as they polish their businesses and prepare to pitch to Westpac.
Congratulations to everyone who applied and are taking action on your ideas and we hope you follow the journey of the #HelloHealthTech finalists.