Page 9 - MedTech 2021
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                  SINGAPORE MEDTECH DIRECTORY 2020/2021
 For example, the National University Health System’s Centre for Innovation in Healthcare (CIH) allows startups and SMEs to test their products in live ward settings before they roll out their products. CIH also provides services such as health technology assessment, business evaluation and access to networks and capital.
Singapore General Hospital worked with Biobot Surgical to develop a robotic system that conducts prostate biopsies using a navigation platform to position a needle that can target tumour areas accurately. The system has since been used in Singapore, Australia and Europe, to perform prostate biopsies on more than 6,000 patients.
In 2019, the National Research Foundation (NRF) launched the Singapore Health Technologies Consortium (HealthTEC) to bridge the gap between R&D and application, by connecting academia and industry. It focuses on developing health and wellness solutions in two areas –health sensing technologies which refer to innovations to track and collect health-related data; health analytics and artificial intelligence (AI) which uses predictive modelling and machine learning technologies to make sense of collected data, with the aim
of providing insights and suggesting actions that individuals can take to improve their own health and wellness. The Consortium also
acts as a national resource in R&D and commercialisation by providing seed funding and facilitating licensing
of locally developed technologies.
Early-Stage
Investment
Singapore is seeing more
investor willingness to support early-stage startups in the industry, including overseas companies looking to expand to Asia.
Since the launch of SEEDS Capital, an investment arm of ESG and DxD Hub, the number of Singapore-based MedTech companies has spiked by 250 per cent in just four years (2014 – 2018) to more than 250 MedTech companies. Over half of them are startups.
SEEDS Capital has co-invested more than S$90 million in over 20 MedTech startups since 2018.
More recently on 14 July 2020, SEEDS Capital and Advanced MedTech Holdings
co-invested US$10 million to fund ABM Respiratory Care (ABM), a medical device company developing novel integrated airway clearance and ventilation solutions.
The funding will accelerate the global commercialisation of the Alpha, the world’s first telehealth ventilator developed by ABM in Singapore. The investment represents one of SEEDS Capital’s largest investment in the medical device sector to date and Singapore’s largest Series A medical device fundraise in 2020.
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