Bangalore, June 28, 2023: Medix Global, a pioneering global healthcare management company, announces the launch of the Digital Health Innovation Challenge 2023 for start-ups and innovators creating cutting-edge digital health solutions. The challenge focuses on tech start-ups catering to healthcare issues linked to Women’s Health and Mental Health. These are essentially start-ups that aim to bridge the gap, enhance accessibility, improve the quality of healthcare, minimize unwarranted disparities in healthcare services, and promote the long-term viability of the healthcare system in India. The two-month challenge, scheduled to conclude in August 2023, invites entries starting June 28th, 2023. Medix Global calls upon visionary start-ups, passionate individuals, pioneering researchers, and forward-thinking organizations to participate and showcase their game-changing digital health solutions tailored specifically to address the unique healthcare needs of women in India.
India’s economy has been witnessing remarkable growth; however, the participation of women in the workforce has seen a decline. In 2021–22, only 29.4% of women in the working age group were part of India’s labour force, a much lower figure compared to the early 2000s. To sustain and even accelerate economic growth, it is imperative to increase the participation of women in the workforce. This necessitates providing better care for women’s physical and mental health, enabling them to overcome barriers and contribute to the economy. According to national statistics, in the last two years, over 2 lakh women in the country have lost their lives due to cervical cancer and breast cancer alone. In terms of breast cancer mortality, for example, 37.2 percent of women died from this disease in India in 2020. The mortality rate in India was higher than the Asian rate of 34 percent and much higher than the global average of 30 percent. Mental health is a significant concern that directly impacts productivity and economic growth. Indian employers bear a staggering cost of approximately USD 14 billion each year due to mental health issues. This underscores the urgent need to prioritize mental health support and create accessible solutions that can alleviate the burden on individuals and employers alike.
Speaking about the Digital Health Innovation Challenge 2023, Mrs. Sigal Atzmon, Chief Executive Officer, Medix Group, says, “The national statistics and decreased workforce participation showcase an alarming picture with respect to Women and Mental health in India. This is a wakeup call for each of us to take initiative. While significant strides have been made by the government of India in this area, it becomes our collective responsibility to work towards mitigating these issues as well. The Digital Health Innovation Challenge 2023 is one step in that direction. Through this competition, we create a platform where initiative, proactivity, innovation, and technological development can come together to make a difference in society.”
According to the most recent survey conducted by India’s National Institute of Mental Health and Neurosciences (NIMHANS), nearly 150 million Indians require mental health care services, yet only around 30 million individuals are actively seeking such care. According to another survey, an overwhelming 80% of the Indian workforce has disclosed experiencing mental health difficulties. Research indicates that 40% of individuals who confront mental health challenges refrain from seeking assistance due to the stigma attached to it.
These alarming statistics underscore the urgent need for innovative digital health solutions that can improve access to quality healthcare services for women across the country.
Thus, Medix’s Digital Health Innovation Challenge 2023 seeks to encourage entrepreneurs to present their ground-breaking ideas, products, or services that leverage digital platforms, mobile applications, telemedicine, artificial intelligence, and other cutting-edge technologies. By fostering collaboration and ingenuity, the challenge aims to propel the development of innovative solutions that will revolutionize women’s and mental healthcare outcomes in India.
To participate in the Digital Health Innovation Challenge 2023, start-ups are invited to submit their applications through the official competition website at www.medix-startups.com. The submission deadline for entries is July 21, 2023, giving start-ups ample time to refine and showcase their innovative solutions.
A panel of distinguished judges, consisting of healthcare experts, investors, technology leaders, and influential figures in women’s health, will evaluate the submissions based on innovation, feasibility, scalability, and potential impact. These judges include: Mrs. Sigal Atzmon, Chief Executive Officer, Medix Group; Prof. David Zeltser, Global Medical Director, Medix Group; Mrs. Neerja Birla, Founder & Chairperson at Aditya Birla Education Trust, Founder & Chairperson, mPowerMinds; Mr. Gordon Watson, Chief Executive Officer Asia & Africa, AXA Group; Mr. Sanjay Kedia, Country Head & Chief Executive Officer, Marsh India; Mr. Naveen Tehilyani, Chief Executive Officer, Tata AIA; Mr. Ajay Nanavati, Chairman, Quantum Advisors; Mr. Yaron Daniely, General Partner, aMoon Fund, Ms. Padmaja Ruparel, Co-founder, Indian Angel Network, Ms. Bala Deshpande, Founder Partner, MegaDelta Capital/Senior Managing Director-New Enterprise Associates (NEA INDIA), Ms. Seema Chaturvedi, Managing Partner & Founder, Achieving Women Equity Funds (AWE), Ms. Sudha Shivkumar, President FICCIflo, and Ms. Anat Bernstein Reich, Chief Executive Officer BDO India-Israel Investment Banking.
Medix Global will actively support the winners in providing access to potential funding, validating product-market fit, mentorship and driving the implementation and adoption of their solutions to address the pressing healthcare challenges in India.
