Medtronic launches first-ever Open Innovation Platform in APAC, Health News, ET HealthWorld

Mumbai, India: Medical device maker, Medtronic announced the launch of) for APAC which will aid in strategic collaboration with various innovators across the healthcare ecosystem for developing healthcare through capability development, partnerships and business organizations networking in the areas of medical technology a nd digital health.

The platform will enable Medtronic to explore and advance partnership opportunities that can help it leverage AI and automation to address patient needs. The global healthcare technology leader is planning to invest up to US$50 million, over a period of five years, starting from FY22, to support capability development of talent and technology.

Speaking on the company’s intent to get hands on the best technology to address patient needs, Chris Lee, president for Asia Pacific, Medtronic said, “Building on the entrepreneurial spirit that we share with other companies including our Medtronic OIP start-ups serves as a launchpad for us to grow new ideas, empower an innovative ecosystem and translate this collaboration into actionable outcomes. Medtronic is one of the best destinations for innovation and innovators due to its large and diverse portfolio across 70 disease states. This is indeed aligned to our new brand and bold ambition to become the global healthcare technology leader, with a focus on AI, robotics, automation, IoT and digital health.”

Medtronic also launched the Medtronic APAC Innovation Challenge (MAIC) to motivate business organizations in APAC to develop, showcase and further work under the guidance of Medtronics to devise innovative medical technology solutions in one of the four domains namely Life Transforming Technologies, Better Outcomes for All, Experiences that Put People First and Insight Driven Care.

In addition to MAIC, Medtronic is also planning to open its first-ever Digital Medtronic Innovation Centre (dMIC) in Singapore as part of the OIP with plans to offer a collaborative space for an all-round immersive experience of product and therapy innovation.

MAIC will be hosted alongside the Medtronic Asia Innovation Conference in the first quarter of 2022 at Medtronic’s regional headquarters in Singapore.

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