Recently the National Research Foundation (NRF) and ACE (the Action Community for Entrepreneurship) co-organised the Singapore Startup Challenge. The winner has created a smart device to help pregnant women during labour, has a chance to compete at Techventure International Startup Challenge.
The challenge acts as a platform for young innovative startups to pitch against one another and present their go-to-market strategies, value propositions, business models to a multi-disciplinary judging panel. It is open to startups located in Singapore from all technology areas (such as biotech/medtech, clean tech/energy/environment, engineering/manufacturing, ICT/IDM, materials etc.)
The winner of the Singapore Startup Challenge will walk away with SG$30,000 (US$22,000) in cash and six-eight finalists will be selected and mentored by ACE to pitch against international winning teams at the Techventure, one of Asia’s largest startup events, International Startup Challenge Finals. The ultimate winner of Techventure International Startup Challenge stands to win SG$50,000 (US$36,600) in cash and an incubation space.
After a long and gruelling pitch session, Innovfusion Pte Ltd, a medtech company clinched the top prize for its EPIVA smart infusion device for women undergoing childbirth.
Basically, EPIVA is a smart infusion pump that modulates the amount of epidural analgesia administered based on patient demand through a patented algorithm. It has a proprietary algorithm that controls and adjusts the background dose of epidural analgesia by reviewing the patient’s demand history. This is coupled with a pump mechanism which basically injects analgesic boluses at high pressures into the epidural space.
According to Innovfusion, EPIVA has been clinically validated to reduce the incidence of breakthrough pain and clinician intervention through providing personalised pain relief for every birth.