HKSTP and MSD Join Hands to Empower Data-Driven Solutions for the Pharmaceutical Industry
(Hong Kong, 11 Aug 2023) – The Hong Kong Science and Technology Parks Corporation (HKSTP) partnered with Merck & Co., Inc., Rahway, NJ, USA (MSD) on the "Healthcare Innovation Challenge” to address issues in the healthcare industry and drive positive change in society. The challenge concluded on 7 July 2023, with a participation of over 25 teams, comprising of startups and students.
Leveraging open data and first-hand industry knowledge shared by MSD, the participants developed innovative proposals targeting two real-life business challenges in the pharmaceutical sector: "Increasing HPV Prevention Awareness among Young Adult Men" and "Enhancing Affordability of Oncology Treatment". The final pitch day featured 12 shortlisted teams competing for cash prizes of up to HK$50,000.
As a member of HKSTP's Data Community – the first citywide platform for cross-industry data collaboration in Hong Kong – MSD supported the competition by enabling young talents to unleash the power of data and apply their solutions to the industry. They provided collaboration opportunities to the winning teams, fostering data-driven innovation that will make Hong Kong’s pharmaceutical sector more competitive and resilient amidst evolving market expectations.
Photo 1: HKSTP partnered with MSD on the "Healthcare Innovation Challenge", using open data to tackle pain points in the healthcare industry and create positive social impact.
Photo 2: Dr Crystal Fok, Head of STP Platform, HKSTP said, “It's inspiring to witness the next generation of innovation and technology talents demonstrating their innovative thinking and applying big data to tackle social problems during the competition. At HKSTP, we are committed to promoting cross-industry data collaboration and uniting every stakeholder to create new solutions that meet society's evolving needs.”
Photo 3: Mr Vincent, Managing Director, MSD Hong Kong & Macau said, ”Hong Kong has great potential to develop big data business and become an international biomedical hub while leveraging GBA opportunities. We look forward to hearing more favorable policy evolution on this topic, and are committed to expand our clinical trial efforts to generate more valuable data to benefit above and beyond Hong Kong.”
Photo 4: The Champion and 1st runner-up of ”Increase Awareness and Sense of Urgency on HPV Prevention for Young Adult Men“: PanopticAI Limited (Left) and WomenX Biotech Limited x Flowsophic Limited (right).
Photo 5: The Champion and 1st runner-up of ” Increase Affordability of Oncology Treatment”: Hollo Limited (Left) and SCGHealth (right).
Healthcare Innovation Challenge - List of Winning Teams:
|
Problem Statements |
Awards |
Teams |
|
Increase Awareness and Sense of Urgency on HPV Prevention for Young Adult Men |
Champion |
PanopticAI Limited |
|
1st runner-up |
WomenX Biotech Limited x Flowsophic Limited |
|
|
Increase Affordability of Oncology Treatment |
Champion |
Hollo Limited |
|
1st runner-up |
SCGHealth |
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