Background

 

The global healthcare sector continues to experience strong growthyet significant challenges remain in areas, such as lack of accessibility,
rising cost of care, labo
ur shortage, inconsistency in care standard, and inadequate communication and patient journey, resulting
in long-lasting
, and in some instances, crippling socio-economic issues. Technology adoption and integration, supported by policy improvement
and talent development, are undoubtedly amongst the key strategies for overcoming these challenges and 
they form the very foundation
of the sector’s transformation. 
The Covid-19 pandemic in recent months has inevitably exposed or amplified many of the underlying
“pinch points of healthcare systems around the world. However, it has also served as a stark reminder of the importance
of innovation
and cross-sectoral collaboration, not to mention it is accelerating the pace of digitization in healthcare and other industries.  

 

Whilst priorities, such as patient safety and care quality, are shared by providers and operators across the globeaffordability remains
one of the most 
prevalent and challenging issues faced by Emerging Markets in South East Asia, where a large proportion of the population
struggles to 
access quality care and financial support. Patchy insurance coverage, coupled with financial illiteracy and lower bank account
ownership, means that many patients in those markets 
are unable to benefit from novel therapies and financing options. Consequently, they
are often burdened with high out-of-pocket payments, impacting 
adherence and their overall quality of life. Therefore, innovative, efficient
and patient-centric support systems must be put in place to help improve the level of affordability and accessibility. 
 

 

With that mission in mind, we have established the HFA to connect like-minded individuals and organisations in the creation of a
technology eco-system that encompasses the industry, academic research, investment, entrepreneur and patient communities
in the region and beyond. With our partners and capabilities, we are well-positioned to help you develop your idea
into working scalable solutions to improve and 
democratise healthcare. 

Background

 

The global healthcare sector continues to experience strong growthyet significant challenges remain in areas, such as lack of accessibility, rising cost of care, labour shortage, inconsistency in care standard, and inadequate communication and patient journey, resulting in long-lasting, and in some instances, crippling socio-economic issues. Technology adoption and integration, supported by policy improvement and talent development, are undoubtedly amongst the key strategies for overcoming these challenges and they form the very foundation of the sector’s transformation. The Covid-19 pandemic in recent months has inevitably exposed or amplified many of the underlying “pinch points of healthcare systems around the world. However, it has also served as a stark reminder of the importance of innovation and cross-sectoral collaboration, not to mention it is accelerating the pace of digitization in healthcare and other industries.   

Whilst priorities, such as patient safety and care quality, are shared by providers and operators across the globeaffordability remains one of the most prevalent and challenging issues faced by Emerging Markets in South East Asia, where a large proportion of the population struggles to access quality care and financial support. Patchy insurance coverage, coupled with financial illiteracy and lower bank account ownership, means that many patients in those markets are unable to benefit from novel therapies and financing options. Consequently, they are often burdened with high out-of-pocket payments, impacting adherence and their overall quality of life. Therefore, innovative, efficient and patient-centric support systems must be put in place to help improve the level of affordability and accessibility.   

With that mission in mind, we have established the HFA to connect like-minded individuals and organisations in the creation of a technology eco-system that encompasses the industry, academic research, investment, entrepreneur and patient communities in the region and beyond. With our partners and capabilities, we are well-positioned to help you develop your idea into working scalable solutions to improve and democratise healthcare.  

[WEBINAR]

Briefing Day

As part of our Healthcare Fintech Alliance (HFA) efforts to tackle these issues with innovative, tangible solutions, we are organizing the Healthcare Fintech Alliance Innovation Challenge for Startups and University students to present their ideas.

Challenge Statements

  • To maximize the reach and efficiency of Patient Support Program’s via technological applications.

  • To Innovate Financing to expand excess and affordability to medicines and quality healthcare.

Who To Apply

  • You can be a Healthtech or Fintech company with an existing or potential solution or just someone who just has a good and actionable idea that can overcome specific healthcare issues in Indonesia or Vietnam or other ASEAN countries.
  • Your funding round can be up to Series B (including yet-to-be funded, pre-seed, seed, pre-Series A, Series A and Series B). 

Selection Criteria

  • Experience and understanding of the financial and healthcare ecosystems within Emerging Markets Asia
  • Solution fit to the proposed need, considering the expected outcomes
  • Cost-effectiveness
  • Patient impact
  • Innovative solution
  • Ease of pilot implementation
  • Scalability
  • Time to market and market risk
  • Differentiation of solution within the competitive landscape
  • Capability of participant to execute the solution
  • Extent to which the solution could advance to a partnership with the Organizer
  • Demonstration of total funding requirements for various stage of development
  • Demonstration of use of funds, i.e. prize money

Challenge Statements

  • To maximize the reach and efficiency of Patient Support Program’s via technological applications.

  • To expand access and affordability to medicines and quality healthcare via Innovative Financing.

Selection Criteria

  • Experience and understanding of the financial and healthcare ecosystems within Emerging Markets Asia
  • Solution fit to the proposed need, considering the expected outcomes
  • Cost-effectiveness
  • Patient impact
  • Innovative solution
  • Ease of pilot implementation
  • Scalability
  • Time to market and market risk
  • Differentiation of solution within the competitive landscape
  • Capability of participant to execute the solution
  • Extent to which the solution could advance to a partnership with the Organizer
  • Demonstration of total funding requirements for various stage of development
  • Demonstration of use of funds, i.e. prize money

Who To Apply

  • You can be a Healthtech or Fintech company with an existing or potential solution or just someone who just has a good and actionable idea that can overcome specific healthcare issues in Indonesia or Vietnam or other ASEAN countries.
  • Your funding round can be up to Series B (including yet-to-be funded, pre-seed, seed, pre-Series A, Series A and Series B). 

Challenge Statements

Challenge #1:  To maximize the reach and efficiency of Patient Support Program’s via technological applications

In an ordinary PSP process, patients and/or their healthcare provider need to submit an application
before they receive financial support through the PSP.  This process is lengthy and complex and the variation of PSP offered by different
pharmaceutical companies may diminish the efficiencies of PSP overall. The expected deliverables to the above challenge include
quality outcomes through applying latest technology to improve patient access to innovative medicines.


Challenge #2: To expand access and affordability to medicines and quality healthcare via Innovative Financing  

 

Access and affordability to innovative medicines and quality healthcare is one of the most significant challenges to populations
around the world and in emerging markets. To ensure everyone gets the opportunity to live heathier lives, creative partnerships focusing
on driving innovative financing are essential to provide holistic solutions for patients and their families. Redefine resources needed
and pathways to build sustainable solutions that empower patients to access innovative medicines and quality healthcare

Challenge #1:  To maximize the reach and efficiency of Patient Support Program’s via technological applications


In an ordinary PSP process, patients and/or their healthcare provider need to submit an application before they receive financial support through the PSP. This process is lengthy and complex and the variation of PSP offered by different pharmaceutical companies may diminish the efficiencies of PSP overall. The expected deliverables to the above challenge include quality outcomes through applying latest technology to improve patient access to innovative medicines.


Challenge #2: To expand access and affordability to medicines and quality healthcare via Innovative Financing

 

Access and affordability to innovative medicines and quality healthcare is one of the most significant challenges to populations around the world and in emerging markets. To ensure everyone gets the opportunity to live heathier lives, creative partnerships focusing on driving innovative financing are essential to provide holistic solutions for patients and their families. Redefine resources needed and pathways to build sustainable solutions that empower patients to access innovative medicines and quality healthcare.

Our Partners

Main Organizers

Alibaba Cloud
Main Organizer

Established in 2009, Alibaba Cloud, the data intelligence backbone of Alibaba Group, is APAC’s top one and the world’s top three IaaS providers, according to Gartner. Alibaba Cloud provides a comprehensive suite of cloud computing services to businesses worldwide, including merchants doing business on Alibaba Group marketplaces, start-ups, corporations and public services. Alibaba Cloud is the official Cloud Services Partner of the International Olympic Committee.

Alibaba Cloud
Main Organizer
Fintech Academy Singapore
Main Organizer

We aim to be a leader in innovative education programs by integrating learning, industry and community and we strive to educate, inform, and inspire via outreach, up-skilling and incubation.

Fintech Academy Singapore
Main Organizer
Pfizer Logo
Pfizer
Main Organizer

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. We collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world.

Pfizer
Main Organizer

Supported by

Access Health International

ACCESS Health International is a nonprofit think tank, advisory group, and implementation partner with a mission to improve access to high quality and affordable healthcare for people everywhere, no matter what their age.

Access Health International
Alpha Momentum

Alpha Momentum is an Indonesia-based venture capital firm founded by an exceptional team of seasoned entrepreneurs and proven international business leaders. Their intend is to work with emerging Startups with great ideas that are revolutionary and business disruptive.

Alpha Momentum
Vietnam National University, Hanoi

Vietnam National University, Hanoi (VNU) is one of two leading multidisciplinary and multi-sectoral national universities, tasked with producing highly qualified human resources for the development of the country. VNU is a pioneer in innovation and is considered the symbol of intellectual life and education in Vietnam.

Vietnam National University, Hanoi

Event Schedule

Check below the schedule at a glance for the pitch competition. Due to the Covid-19 outbreak, we will run the event online. Event information will be sent via emails to shortlisted entrants.

Benefits & Prize

What’s in it for you?

Funding

The winner of the competition will be funded
USD 50,000 as the grand prize

Mentorship

Opportunity to be mentored by HFA partners to build and scale up your solution

Alibaba Cloud Support

Receive free Alibaba Cloud support and credits and access to technology experts and academia

Networking Opportunities

Get access to network of professionals and investors in the industry

Access to Healthcare Organisations

Link and connect to health-related organisations such as hospitals and pharmaceutical companies

Research & Development

Get support on research & development for your products from our HFA partners

Apply To Our Challenge

Submission for application is now closed. Thank you for your interest!

Frequently Asked Questions

Check out the FAQs to find the answers to common questions. Can't find your question answered here? Contact us.

– As long as you are above 18 you can participate

– The team can consist of a mix of members from different age group, background and skill sets (e.g. professors, students, industry partner)

– We require each team to have at least one member who is familiar with the local market

– Well-defined problem statement and unique value proposition

– Target market and opportunity

– Solution mock-up/minimum viable product

– Business model and go-to-market strategy

– Background of your team

– The  first round of pitches will be held online.

– If the Covid-19 situation persists, the finals will be online

– We will notify your team via email.

– Your team will retain the intellectual rights of the ideas that are pitched.

– The aim of the alliance is to groom promising startups in the field of healthcare and fin-tech.

 – Winning teams will get to work with Pfizer Innovation Lab to test-bed their ideas across various markets.

Contact Us

LOCATE US

80 Robinson Rd #08-01
Singapore 068898