Velocity Health program to boost regional healthcare AI market

In what can be touted as a major breakthrough witnessed across healthcare artificial intelligence market, a prominent start-up accelerator program Velocity Health has recently unveiled an exciting opportunity aimed at exceptional artificial intelligence start-ups that possess the ability to harness the prowess of data to enhance UK’s National Health Service (NHS) and transform the global healthcare artificial intelligence industry.

Reportedly, the latest scheme, named as 2018 Velocity Health program, is seeking two budding start-ups utilizing AI and machine learning to upgrade disease prevention techniques. The selected companies would be provided around GBP 68,000 each in funding, along with additional acceleration services to boost their presence in healthcare artificial market. Furthermore, the 10-month program also offers extensive entrepreneurial aid where both the companies would receive a chance to meet investors, mentors, and coaches. As reported, the deadline to enroll in the program is 4th January 2018, with the finalists to be declared on 12th January.

For the uninitiated, Velocity Health was set-up in 2015 by one of the foremost start-up accelerator platforms of the world, Wayra UK in collaboration with the U.S. based pharmaceutical giant, Merck Sharp & Dohme (MSD) to invest in advanced healthcare technologies that would address the challenges enumerated in the NHS Five Year Forward View aiming to provide better healthcare services across the UK.

Meanwhile, NHS England, one of the four public health services incorporated in the UK’s NHS, has reportedly acknowledged the caliber of technology in augmenting the healthcare delivery system, particularly by utilizing the potential of diagnostics, machine learning, and artificial intelligence. Concurrently, it was recently reported that MSD would set up a life sciences research lab in London, under the UK government’s life sciences sector agreement.

Speaking on the development, MSD’s director of healthcare services, Dr. Junaid Bajwa was quoted stating that Velocity Health is dedicated to start-ups that strengthen the future of healthcare artificial intelligence industry.