Zilico Ltd selected for the Inaugural TechEmerge Health Innovation Summit
Friday 10th June 2016
Zilico Ltd has been selected to participate in the inaugural TechEmerge program, an initiative of IFC, a member of the World Bank Group. TechEmerge is a first-of-its-kind matchmaking program that connects technology companies from around the world with corporations in emerging markets, to conduct pilot projects and foster commercial partnerships. The inaugural phase of the program is focused on the healthcare sector in India.
The TechEmerge Health Innovation Summit, which takes place in New Delhi on June 15-16, 2016, will enable innovators to meet with healthcare providers in India to discuss the adoption of their products in this market.
Zilico was shortlisted as one of the top health technology companies through a competitive process, selected from over 320 applications from 29 countries, for its ZedScan™ product. Recent clinical evidence from UK and European clinics using ZedScan demonstrates the effectiveness of a real-time non-visual diagnostic for cervical cancer. In a recent case study ZedScan helped identify significantly more high-grade disease. Coupled with better accuracy, the portability of the system makes it an ideal part of the solution for the emerging economies.
Like other developing countries, India faces the double burden of dealing with communicable diseases and a lack of access to basic healthcare, alongside a rapidly rising incidence of non-communicable conditions like heart disease and cancer. Innovations in technology and processes are essential for expanding access to affordable health services. Meanwhile, the Indian healthcare market is set to grow to $280 billion by 2020, driven by increasing income levels, a growing middle class, longer life expectancies, and the rise in the incidence of non-communicable diseases.
The TechEmerge program is part of IFC's approach to catalyze the adoption of new technologies in emerging markets, and leverage the private sector in India to increase and improve access to quality health services. IFC has an investment portfolio in the Indian healthcare sector with commitments of over $450 million, representing over 30 percent of its global health care investment portfolio.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and network, to create opportunity where it's needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity. IFC has a dedicated Venture Capital group that invests in sustainable technology-driven ventures that make an impact in emerging markets. For more information, visit www.ifc.org