On January 17, the submission of applications for the All-Ukrainian competition of medical and biological startups started. The competition, organized by the Ukrainian Medical Association of United Kingdom (UMAUK) in conjunction with “Innovation House”, has the goal of supporting domestic producers and innovators.
“Innovation House” is a platform for businessmen and scientists who are striving to develop innovations in Ukraine. This position is very close to Max Polyakov, managing partner at Noosphere Ventures, who embodies his initiatives to create a technological ecosystem in Ukraine through interesting activities, including events for startups. UMAUK, for its part, has long been uniting Ukrainian specialists in the field of medicine and pharmacology, and also helps and supports talented Ukrainian doctors.
The topic of startups in healthcare in Ukraine is not new, and a medical reform is a key point for the Ministry of Healthcare to date. In line with the well-known competition of engineering startups the Vernadsky Challenge, organized by Association Noosphere under the leadership of Max Polyakov, the Medical & Biological Startup Challenge plans to help Ukrainian startups establish communication with potential investors.
Innovators and inventors with developments in the field of biology and medicine at any stage of development, from the idea to the finished product, are invited to participate in the competition. Applications will be accepted until March 17, after which the finalists will be selected based on the criteria developed by the organizers. The Medical & Biological Startup
Challenge will allow finalists to get help in preparing presentations of their projects and to show them to British investors at the finals of the contest, in London, during the Medicine and Innovation UMAUK Annual Conference. And the winners will be able to attract investments by taking part in programs of intensive development for companies.
Medical Startups in Ukraine
The leading experts in medicine and entrepreneurs, including Max Polyakov, managing partner of Noosphere Ventures, and Michael Ryabokon, co-founder of the Noosphere Engineering School and Director of Innovation at Noosphere, were honored to judge the contestants. The subject of the project is close to Max Polyakov, not only because of his initiative to organize the Vernadsky Challenge, but also because of his education – he has two Master’s Degrees, one in medicine and one in economics.
Speaking of the Vernadsky Challenge, it is worth mentioning that in the 3 years of the contest, projects in the field of “Medical Equipment” occupied one of the leading positions in terms of the number of applications. This category includes not only 26.5% of all the finalists of the contest, but also 4 of 10 prize winners, including such projects as Bioton and Cardiomo. This proves that interest in the topic of medicine and health is high not only among investors but also among potential inventors.
Every year, the number of startups in the health sector is growing, trying to achieve success through similar events, as well as crowdfunding platforms like Kickstarter, Rockethub, etc. Max Polyakov with the support of Association Noosphere does everything possible to promote such projects in Ukraine, helping the innovative ideas of talented people become reality. After all, what can be more important than taking care of our health? And what, if not technological progress, can help us change life for the better?