Health challenge offers access to expert advice

Health challenge offers access to expert advice and networks

13 May 2009: ‘Focus on Health’ - a commercialisation initiative recently launched by New Zealand Trade and Enterprise (NZTE) offers participants the chance to get their health ideas in front of an influential group of business leaders and health professionals who can help them achieve commercial success in the United States.

NZTE’s Sector Director Hans Frauenlob says that the Focus on Health Challenge aims to maximise commercial opportunities for New Zealand ideas, products and services in the significant, and growing, United States health market.

“To do this we have brought together a world-class network of judges, advisors and mentors from medical, academic and business backgrounds, as well as potential investors, end-users and buyers.

“We have the likes of John Halamka, who is often consulted by the US Congress and the White House regarding health IT, and Jay Srini who was named as one of US Computerworld magazine’s Premier 100 Information Technology Leaders for 2009, involved as well as Edwards Lifesciences, a global leader in health products and technologies on board as a sponsor which indicates the extremely high level of advice and expertise that participants will be able to tap into,” Mr Frauenlob says.

Six judges, comprising US and New Zealand-based leaders and entrepreneurs in the healthcare sector, including investors, have been appointed to The Challenge and will be responsible for selecting semi-finalists and finalists whose entries have the greatest prospect for commercial success in the United States. They are:

Dr John Halamka MD, MS (United States): John is the Chief Information Officer of CareGroup Health System as well as Chief Information Officer and Dean for Technology at Harvard Medical School. He is often consulted by individuals in Congress and the Whitehouse regarding health IT.
Jay Srini (United States): Jay is the Chief Innovation Officer for the University of Pittsburgh Medical Centre Insurance Services Division and is responsible for developing the methods, tools and strategies that result in innovative health care solutions and positive consumer experiences. She has been named as one of US Computerworld magazine’s Premier 100 Information Technology Leaders for 2009.
David Clarke (New Zealand): David is Director at Cranleigh Merchant Bankers, providing investment advice and corporate finance services to a range of sectors and industries. He has a successful track record with companies in the areas of biotechnology, IT, health, food and related sectors.
G. Steven Burrill (United States): Steven is the CEO of Burrill & Company, a life sciences firm focused exclusively on companies involved in human healthcare, agricultural and industrial biotechnology and biofuels.
Dion Madsen (United States): Dion is the Managing Director of Physic Ventures, which provides capital and support to entrepreneurs focused on building exceptional science-based, consumer-directed health and sustainable living companies. He has 15 years experience in developing technology companies.
Guy Scalzi (United States): Guy is a Principal with Aspen Advisors, a professional services firm that works with healthcare organisations to optimise the value of their information technology.
 
Mr Frauenlob says that The Challenge is firmly focused on the US market, and in addition to the judges, many of the members of the wider network of professionals involved are US-based buyers and investors who are actively looking for products and services.

“The US is a strategic market for New Zealand and offers significant opportunities for those that can deliver added-value, practical products and services. It is a market that is investing heavily on health care and health technology - they already spend over US$2 trillion every year on healthcare and have plans to spend an additional $135 billion over the next few years, including $20 billion on health technology alone.

“The Challenge is an avenue for New Zealand health innovators to fast-track commercially into the US. Early market feedback is a critical success factor and participants will receive expert advice about how to best position themselves in this market.”

The Challenge offers mentoring, potential local and international partnership opportunities, access to a world-class network of useful contacts, a possible share of over $500,000 of in-kind and cash prizes, and the opportunity for participants to fast-track ideas and enter the world’s largest health market, the United States.

Anyone interested in participating in The Challenge is encouraged to attend a workshop in June which will include speakers from the United States and New Zealand.

NZTE is now calling for entries. Visit www.nzfocusonhealth.com for more information including workshop dates, entry details and full bios of judges and others involved with The Challenge.

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