Get ready for a fascinating journey through the booming MedTech sector! The 'Top Disruptors in Healthcare' report is your ticket to discovering the most innovative, game-changing projects in healthcare. The unique nature of this publication is based on rich analysis of the startup market and inspiring success stories. This year's edition of the report presents a total of 151 startups, of which 125 are from Poland and 26 from Central and Eastern Europe.
About the "Top Disruptors in Healthcare" Report
The publication is based on comprehensive information collected using a standardised survey tool, developed in collaboration with industry experts. The questionnaire was designed to collect and analyse the most important information about the startups presented in the report, such as the technological solutions they introduce, their competitiveness, as well as data on their organisation, current needs, challenges, and foreign expansion and funding.
– The report is a bridge that connects the world of medical innovation with the needs of the healthcare sector. The startups in the Top Disruptors in Healthcare Report are both a community of ambitious visionaries and entrepreneurs, creating an ecosystem where innovation is born and thrives. With the Report, we are boldly steering towards a future where patients and doctors have access to cutting-edge technologies that improve quality of life and the effectiveness of treatments. Together we are creating the future of the health sector - indicates Karolina Kornowska, Project Manager of the AI in Health Coalition and the Polish Federation of Hospitals.
The Report also aims to support medical startups with funding. The authors of the Report realise that one of the biggest challenges faced by startups is the lack of adequate funding needed to develop and scale their innovative medical solutions. Therefore, the Report aims to provide reliable information about medical startups, their business models, achievements and potential in order to attract the attention of potential investors and business institutions. By doing so, startups are more likely to attract the necessary financial and strategic support to continue developing, researching, testing and bringing innovations to market.
- PZU Health has supported the Top Disruptors in Healthcare initiative from the beginning and invested in the area of innovation. We are pleased to see the development of the Report, which illustrates the dynamics of the entire medtech market in Poland. This year's results show that the directions of PZU Zdrowie's cooperation with startups respond to the real needs of patients. We are currently piloting solutions based on artificial intelligence in our medical facilities, supporting the work of doctors in the field of diagnostics in, among others, cardiology - the says Karolina Helmin-Biercewicz, member of the PZU Health Board, responsible for the areas of patient experience, marketing, communications, sponsorship and ESG.
- Technological progress is constantly accelerating. We can see this by observing the growing potential of artificial intelligence, which has dominated this year's public debate. Cutting-edge technologies are already enabling us to, among other things, develop effective therapeutic substances, simplify and streamline diagnostics, and allow us to ease the burden on healthcare professionals. Scientific evolution is happening before our eyes. We have no choice but to keep up with it. Medicine cannot afford to be stagnant and indifferent to the latest discoveries and technologies. Patients' lives and health depend on how efficiently we respond to the changing world. - tells us Karolina Tkaczuk, Head of Academic Cooperation and Innovation at AstraZeneca Pharma Poland.
Selected statistics from the "Top Disruptors in Healthcare" report
The areas of medical startups are extremely diverse, but the results of the report clearly show that oncology (17% respondents) and cardiology (17% respondents) are the most popular. These results are no different from last year.
Analysing the sectors of activity of medical startups, the growth of interest in solutions based on artificial intelligence and machine learning in the medical sector is extremely dynamic. As many as 75 startups (60% surveyed) indicated that they are developing their solution in the artificial intelligence and machine learning sector. This probably demonstrates a growing awareness and belief among both startups and the public that AI has the potential to revolutionise healthcare. By analysing vast amounts of medical data, AI-based systems can pinpoint potential health risks, predict the effects of treatments and support clinical decision-making. Unsurprisingly, the second most popular sector for startups is medical data (38% of respondents), which provides the foundation for clinical decision-making and AI development.
- The market for medical startups using artificial intelligence is very important. Thanks to advances in medical technology and healthcare, we are able to live better and longer. We are witnessing how AI is accelerating scientific and research work. It is able to analyse much larger data resources than existing solutions, making diagnosis already easier and faster. This is why it is so important for us to support projects that describe the medical startup ecosystem and popularise it. Many startups focus on data analytics as a basis for scientific research and the development of innovative solutions - this creates huge opportunities for the application of AI -. adds Michal Kramarz, Head of Google for Startups in Central and Eastern Europe.
The majority of respondents (75% respondents) stated that the Russian invasion of Ukraine had no impact on their business. This may suggest that the activities of Polish startups are largely not directly linked to the political or economic situation in that country.
In this year's edition of the Report, startups indicated that, in turn, the biggest problem in developing their solution was finding an investor/funding (44% of respondents). This result did not change too much compared to last year, as did the problem of promoting and selling the solution (35% of respondents identified this problem in this year's edition). Difficulties in raising funding and investors can affect the difficult development and scaling of their solutions. In addition, it may also involve a problem in conducting effective promotion and sales, as marketing requires cash.
Among the institutions with which a startup most frequently collaborates are still medical institutions (62% surveyed), although this trend seems to have declined in recent years (70% in the second edition, while only 63% in the third edition). Collaboration with medical facilities is crucial for medical startups as it enables them to test, implement and improve their solutions in a real medical environment. According to the 'AI is not Sci-Fi' Review, published by the Polish Federation of Hospitals in collaboration with the AI in Health Coalition and the expert team at wHealth, medical solutions, including the medical startups in the Report, are already implemented in some hospitals and are working well in practice.
The research for the report found that more than half of the startups (54% surveyed), were founded by a team of only men. Mixed founder teams concern 45% startups. Startups founded solely by women are in the minority. In the surveyed group, only 2 startups (1% of those surveyed) were founded by a team consisting exclusively of women. . This is an extremely low number compared to the share of men as founders.
For the purposes of the report, funding methods were also analysed. The source of funds in more than half of the cases (56% of the respondents) is the founders' own funds. Respondents also finance their ventures through investments from private investors (41% of respondents) and from grants from European funds (40% of respondents). Money from Polish VC funds was raised by one-third of the startups, and from foreign funds by only 13% - which may be a worrying sign indicating little interest of foreign funds in the Polish medical startup market.
Read the full startup market research findings in the latest fourth edition of the 'Top Disruptors in Healthcare' Report, published at the AI & MEDTECH CEE International Conference!
Working together for the future of medical start-ups
This year's Main Partners of the "Top Disruptors in Healthcare" report are AstraZeneca, Google for Startups and PZU Health. The Supporting Partner is DZP Law Firm. These are leading industry organisations, also driving innovation in the MedTech sector, who have supported us since the initial editions of the Report. Their commitment and long-term support contribute to our vision and progress in healthcare.
The 'Top Disruptors in Healthcare' report is not just another publication, but a real roadmap of the future of medicine that shows how innovative technologies and startups are helping to transform healthcare. We encourage you to read the Report on the website of the Coalition "AI in Health" - https://aiwzdrowiu.pl/raport-tdih/
The report is available in two versions - basicwhich is free to all interested parties, and extended, paid, which includes full information on each of the 151 medical start-ups.