AIA, Konica Minolta Join Hands to Launch Unique Digital Health Accelerator in Singapore

SINGAPORE - Media OutReach - 17 November 2015 - AIA Group Limited and Konica Minolta, Inc. today jointly launched the 'AIA -- Konica Minolta Digital Health Accelerator' in Singapore. The 12 week programme supports entrepreneurs and businesses to deliver innovative solutions through integrating data to healthcare delivery.

The Singaporean Government's spend on Healthcare in Singapore is expected to double to SG$8 billion by the end of 2015, from SG$4 billion in 2011. 'Digital Health' solutions present one of the most promising growth segments in the healthcare sector, as innovative solutions empower people to better manage and improve their health and provide better diagnostics and treatment options using sensors, data and imaging that are now within the consumer ecosystem.

The programme will be run by Nest, a prominent investment incubator which has worked with large corporations to operate customised accelerator programmes, and aims to nurture start-ups and support the Singapore government's push on adopting information communication technologies to develop an integrated healthcare delivery system in the country.

Patrick Teow, CEO at AIA Singapore said, "This launch is another extension of AIA's belief in the power of Collaborative Innovation to help manage healthcare costs in Singapore and create value for families here. The protection gap in Singapore is estimated to be US$305 billion, and healthcare spending is expected to increase with government health spending expected to increase to SG$12 billion annually by 2020. Digital health can play a meaningful role in addressing both these issues as we seek to ensure the well-being of families in Singapore".

"Konica Minolta has long embraced Open Innovation, and combined our expertise to create cutting-edge medical field products for more than 30 years now," said Yuji Ichimura, Executive Officer at Konica Minolta, Inc.  "Since 2014 we have opened 5 Business Innovation Centres across the world to work with customers, start-ups, research institutions and crowdsourcing channels. This accelerator program is another Open Innovation step to reach out to promising start-ups and Konica Minolta will make available R&D assets, and go-to-market channels to accelerate their entry into the Digital Health space."

Applications open from 1 December 2015 till 31 January 2016.  The programme will commence on 22 February 2016, and end in June 2016 with a 'demo day' by the participants.

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