Our co-founder and COO, Robert Herman, was featured in the “Medical innovation around the world” segment published by the Calcalist, Israel’s number one finance newspaper. We are very glad to represent Slovakia with Powerful Medical in the company of world-class medical innovations.
The web version in Hebrew is available here.
Below is an English translation of Robert’s segment:
What are the main sources of support for entrepreneurs in the field of Medical Innovation in your country (Govt. and Non Govt.)? In what ways?
On the governmental level, there are various types of grants issued by the Ministry of Health or one level higher, issued by the European Union. Unfortunately, in many cases the grants have a number of different conditions, which for SMEs / startups are usually impossible to meet. These conditions favor larger institutions, such as biomedical institutes, state-owned research institutes or hospitals.
What are the local characteristics of your country/continent that have an influence on Medical Innovation initiatives (special needs, demographic characteristics, specific challenges etc.)?
Based on the most recent OECD country health profile for Slovakia in 2019, cardiovascular diseases are the number one cause of death. The report also mentions that Slovakia would benefit greatly from initiatives strengthening primary care and thus improving chronic disease management. Furthermore, five-year cancer survival is lower than in most EU countries.
Please provide an example of Innovation projects that demonstrate these local characteristics.
PMcardio, developed by Powerful Medical is a clinical assistant in the form of an iOS and Android application aimed to improve cardiovascular patient management. Using proprietary ECG digitization, and automated AI-powered interpretation technology, the assistant enables primary care healthcare workers, such as general practitioners or emergency medical responders, to make guideline-compliant decisions when managing their patients.
Has Covid-19 had an influence on Medical entrepreneurship in your country? If so, please provide examples of innovative projects.
COVID had a positive influence on medical entrepreneurship in Slovakia. The demand for investment in any medical or telemedicine solutions has increased. Furthermore, healthcare legislature is shifting towards a more innovative approach favouring more digitization and use of telemedicine solutions.