Venture studio and innovation group BlueChilli has partnered with Enterprise Singapore, an economic agency under the Singapore Ministry and Trade and Industry, to launch a Singapore-based HealthTech accelerator to spur innovation and build startups that address health challenges and opportunities in Southeast Asia.
The Asia Pacific HealthTech sector is the second largest in the world for investment funds raised, after only the United States.
Last year, US$6.3 bn was deployed into HealthTech startups in the region – this investment significantly exceeded 2017 and doubled that of 2016. Southeast Asia’s HealthTech ecosystem is still emerging within the region and poised for growth, with Singapore and Indonesia contributing to most of its notable deals in 2018.
The BlueChilli HealthTech Accelerator will scout for “bold ideas” and domain experts across Southeast Asia. The founders selected to build or advance their startup through the program will get access to tech development services at no additional cost, world-class startup training, seed funding and a global network of advisors and mentors.
BlueChilli CEO Sebastien Eckersley-Maslin said the company’s establishment of a permanent headquarters in Singapore is part of its broader strategy to bolster investment in Asia.
The new accelerator will be a key driver in advancing BlueChilli’s work with regional talents in building globally-scalable startups that draw on insights and capabilities from Asia, in collaboration with private enterprises and ecosystem partners. Building up its activities in the region, BlueChilli launched an Innovation Centre in partnership with Coca-Cola Amatil in Indonesia last month.
BlueChilli CEO Sebastien Eckersley-Maslin said, “Our mission is to help people anywhere solve society’s greatest challenges with technology, so we are excited to extend our reach further into Southeast Asia. By removing the barriers of access to technology and capital, we can help a more diverse range of entrepreneurs in Southeast Asia bring their unique experiences and novel ideas to the global innovation ecosystem. New ideas, innovative business models and emerging technologies coming out of the accelerator have immense potential to disrupt and transform the health industry and improve quality of life across the globe.”