MSD and Wayra UK look to reimagine healthcare with AI and tech startups

Merck Sharp & Dohme Ltd (MSD), a global healthcare company, and Wayra UK, an accelerator part of Telefónica Open Future, have joined to offer two startups up to £68k.

This is part of the Velocity Health programme, and will be the third year that MSD and Wayra have run Velocity Health, aiming to accelerate startups so they can meet the healthcare challenges facing the NHS.

This year, partners are seeking startups who are able to help with how technology can help support disease and illness prevention, focusing particularly on startups using artificial intelligence and machine learning.

Gary Stewart, director of Wayra UK and Telefónica Open Future_ UK, said: “Breakthroughs in artificial intelligence and machine learning are changing our lives in ways never previously thought possible.

“It makes sense for us to seek brilliant entrepreneurs who can harness the power of data to improve the NHS and healthcare services globally, potentially transforming the lives of billions.”

Velocity Health was set up in 2015 to invest in digital innovation in healthcare to address the challenges outlined in the NHS Five Year Forward View and in line with recommendations outlined in the Life Sciences Strategy.

Previous programmes were focused on prevention in healthcare with an emphasis on diabetes and cancer preventions.

Dr Junaid Bajwa, director of healthcare services at MSD, added: “As a company, MSD is deeply committed to scientific discovery, working in partnership with the healthcare system and scaling innovation.

“Velocity Health 2018 aims to build on the achievements of the previous two years of Velocity Health and work with startups that truly complement the future of healthcare delivery.”

In both the NHS Five Year Forward View and the Life Sciences Strategy, the NHS is said to recognise technology’s potential to bring fundamental changes to UK healthcare delivery.

Two startups will be chosen to take up a 10-month accelerator programme where a network of mentors, coaches and investors will nurture entrepreneurial talent and technological expertise of each business to enable the development of new products and services vital to the healthcare system.

Up to £68k will be offered in investment to each startup, which will include 50 per cent funds and the rest made up of dedicated acceleration services such as access to mentors.

This is also to include office space within Wayra UK’s new acceleration facility in London, potential access to Telefónica’s customer base of more than 300m people, and MSD and Wayra’s local and global networks.

Applications have opened today (December 4) with a deadline of January 4, 2018. Finals will be taking place on January 12. The programme begins in February 2018.