18 May 2011:
IBM (NYSE: IBM) is working closely with a group of entrepreneurs whose new technologies can transform how people manage their personal health, the company said today at its SmartCamp in Austin, Texas. The forum there, one of several the company will do this year, is part of its investment in the White House-led StartUp America initiative.
In this time of growing demands for healthcare and rising costs, healthcare providers and companies expect patients to take charge of their personal health. Even as medical science advances, demand for better health care increasingly outstrips supply. In developed nations, more than $850 billion is wasted each year on things like duplicate lab tests, preventable conditions, and inefficient paper-based systems. As new therapies, treatments and resources emerge to respond to this need, advanced Watson-like technologies such as analytics, cloud and mobile computing can help citizens better manage their health care.
The IBM SmartCamp brings together entrepreneurs with venture capitalists, academics and other industry leaders to provide coaching and industry support. The three health care finalists are helping speed up the shift to more patient-driven healthcare by putting new technology in the hands of patients. The finalists include:
- DxUpClose which developed a smarter bacterial diagnostic system that uses electronic sensors to help patients quickly screen for a specific infection by counting bacteria and performing a rapid antimicrobial sensitivity test. Results of the screening and treatment recommendations are then sent to the healthcare worker’s smartphone within sixty minutes.
- Tactical Information Systems which developed a platform for low-cost, easy-to-use, biometrics that matches fingerprints, palm prints, iris and face images in the cloud. The fledgling company’s first product, WanderID, helps patients unable to reliably speak for themselves communicate with their caregivers in case of emergency. It is specifically designed for people with Alzheimer’s disease or cognitive disorders, such as Autism or Down Syndrome.
- Waldo Health which developed a tablet-based patient monitoring service that delivers a smarter solution to patients’ homes via telephone and mobile devices. Designed specifically for individuals with chronic disease, Waldo Health connects patients to health care providers wirelessly, allowing quick and easy access without the time and cost of an office visit.
“Everyone wants to improve health care. These companies are developing technologies that can make a difference to people’s personal health,” said Jim Corgel, general manager, IBM Developer Relations. “These three entrepreneurs have the potential to help transform health care if IBM can help them build their business quickly.”
Two additional finalists at IBM’s SmartCamp are:
- SecureWaters which is commercializing patented technology that monitors, detects and identifies toxins in surface water. AquaSentinel is a real-time early warning electronic monitor and alarm system that automatically and continuously tests for toxins. This new method is less labor-intensive, cumbersome and time consuming than current methods.
- Stormpulse which provides comprehensible, on-demand weather intelligence for better decision making by gauging the impact the weather has on personnel, assets, and supply chains. The product is designed for customers in a broad range of industries, including energy and utilities, transportation, defense, healthcare, and manufacturing.
SmartCamp Austin is part of the IBM Global Entrepreneur initiative, which is designed to bring new technologies to market faster that tackle some of the world’s most pressing issues. The five Austin finalists were selected from 150 start-up companies that are creating new technologies in critical areas such as healthcare, energy, water management, and services that improve the life of citizens around the globe.
IBM SmartCamps judge the best start-up company in different cities around the globe, rewarding the winners with mentoring, services, access to industry experts, and deeper partnership opportunities from IBM, venture capital firms and industry partners. The winner will also be invited to the next SmartCamp World Finals to square off against other SmartCamp winners from around the globe to claim the title of “IBM Global Entrepreneur of the Year.”
IBM is hosting SmartCamp Austin in conjunction with the University of Texas and the Austin Chamber of Commerce. The event will be webcast at www.livestream.com/ibmsoftware.
You Can Be a Judge: Watch the Online Pitches and Vote for Your Favorite in the Final 5: IBM SmartCamp People’s Vote Award
Help us pick the IBM SmartCamp Online People’s Vote Award winner. Each of the final five startups has created a one-minute video pitch that you will be able to watch on the Smarter Planet blog at ASmarterPlanet.com. After watching the pitch videos and watching the companies live on LiveStream, you can vote for your favorite at www.asmarterplanet.com.
For more information about IBM Global Entrepreneur, please visit: http://www.ibm.com/isv/startup. For more information on the IBM Venture Capital Group, please visit http://www.ibm.com/venturecapitalgroup.