A project based in southern Sweden and Hovedstaden, Denmark has supported the development and growth of more than 260 start-ups that specialise in delivering innovative, digital healthcare solutions. HealthTech Nordic’s advice and expertise has helped these young companies break into local and international markets. The project is backed by the European Regional Development Fund and has already helped create 440 jobs in this cross-border region.
- 16 January 2020
HealthTech Nordic represent a fast-growing community of Nordic start-ups, providing a variety of healthtech solutions empowering the individual – patients and professionals. The new solutions allow for a paradigm shift, providing new and better ways of giving and receiving healthcare. Our 260+ members are changing the world for patients, their relatives and healthcare providers. As the start-ups grow their business they also create new jobs within the ÖKS Region.
Expertise is available to the project’s member companies in range of areas including internationalisation, regulatory issues, prototyping and testing, organisational growth and recruitment. Company development is accelerated by getting the start-ups to work as a community to collaborate, share experiences and results. Meanwhile, state-of-the-art knowledge about internationalisation is being continuously provided by the project’s ongoing evaluator, Professor Mikael Hilmersson from Gothenburg University.
Solid results
HealthTech Nordic boasts some impressive interim results. Creating more than 440 jobs in its first two years of operation means the project is well on the way to meeting its target of 700. In addition, around 75 % of the jobs created are found in start-ups with international sales.
The companies’ products and services have benefited around 1 432 000 patients, relatives and healthcare professionals. The start-ups already have 36 600 paying customers, mainly in the Nordic region, the UK, Germany and US – but also in Australia, Canada, South America, India and Africa. In fact, two-thirds of the companies supported through the project are making sales internationally.
Products and services delivered by HealthTech Nordic member companies include:
Next Step Dynamics, Malmö, Sweden, with a smart, wearable device that can predict falls and thus reduce patient pain and societal costs for the healthcare provider. Miiskin, Copenhagen, Denmark, with an app for people monitoring moles and skin changes tp help preventing skin cancer.Cuviva, Gothenburg, Sweden, providing a smart solution for home monitoring of patients with chronic conditions such as heart failure or chronic obstructive pulmonary disease. This increases quality of life for the patient and provides a more effective way of working for professionals.This success has not gone unnoticed as the start-ups and their products are attracting the attention of international investors.
Model for change
The HealthTech Nordic model is now being used by Gothenburg University to showcase changes in innovation support and how start-ups today scale internationally by working in networks, rather than targeting a particular part of the world. One final project outcome will be a blueprint outlining new and innovative ways to support start-ups as they strive to break into international markets.
Total investment and EU funding
Total investment for the project “HealthTech Nordic” is EUR 4 616 935, with the EU’s European Regional Development Fund contributing EUR 2 308 464 through the “Interreg Öresund-Kattegat-Skagerrak” Operational Programme for the 2014-2020 programming period. The investment falls under the priority “SMEs competitiveness”.