– Microsoft and AstraZeneca are joining forces to launch the AI Factory for Health, a European accelerator for AI-focused digital health startups.
– The 3-month accelerator program is for startups that offer an innovative health solution based on artificial intelligence technology for patients or health professionals
– Created by Microsoft in partnership with the Inria laboratory, the AI Factory unites a community of startups dedicated to the development of innovative solutions based on Artificial Intelligence.
On Thursday, Microsoft and AstraZeneca announced they are joining forces to launch the AI Factory for Health, a European accelerator for AI-focused digital health startups. The three-month accelerator is designed to continue their development in artificial intelligence, cloud computing to push the boundaries of science.
AI Factory for Health Background
Created by Microsoft in partnership with the Inria laboratory, the AI Factory is a co-innovation laboratory that links startups, the research world and the various players in the sector. Through these synergies, the AI Factory for Health projects will serve the patients and the medical profession to offer a renewed and individualized medicine.
Startups selected to join the AI Factory for Health will benefit from AstraZeneca’s know-how and expertise in pathologies, knowledge of patient needs and healthcare professionals, as well as legal expertise, access to institutions, and health data for the different European countries in which AstraZeneca operates.
From mentoring to technical advice on their solutions to recommendations for promotion and marketing as part of a co-marketing or co-selling approach. Microsoft provides each start-up with personalized support at every stage of their growth. In addition, Microsoft will bring its technological expertise and services from the Azure platform as well as personalized support, particularly via its commercial network.
The Bigger Picture
Many practices in health and in the development of therapeutic solutions are, at the moment, transformed by the digital technology, making it possible to position the patient at the heart of this device, and thus to propose a truly individualized medicine. Artificial intelligence (AI), machine learning, big data, and automation improve the patient’s journey from prevention to treatment, diagnosis and quality of life. Thanks to a more precise and regular follow-up of the effects of the drugs or digital companions likely to answer the questions which were not put to the medical team, the patients approach their care more serenely, in the hospital as at home.
“At AstraZeneca, putting patients first is the fundamental value that guides us in everything we do. We believe that by deepening our understanding of diseases, patient expectations and experiences, we can further improve their quality of life. We also believe that putting patients at the heart of the health care system is a collective effort that draws on the expertise and skills of new partners. That’s why I’m really excited that the AstraZeneca and Microsoft teams are joining forces and laying the foundation stone for their collaboration with AI Factory for Health, ” says Iskra Reic, EVP Europe & Canada, AstraZeneca.
Startup Submission and Criteria
The open application period is now open until October 31st. Startups who want to join the program must:
Offer an innovative health solution based on artificial intelligence technology for patients or health professionals
– First fundraising: Seed or Series A, or equivalent phase of development. Up to $3M in funding. (Funding information must be verified.)
– Mature project: The startup must be engaged in the development of a software-based product or service that will form a core piece of the current or intended business.
– Already on market: The startup must be engaged on a deployment with at least a minimum of one customer
– Promising Team: Common Values & Vision