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28 Teams Chosen for 2nd Annual Medical Capital Innovation CompetitionBioEnterprise, in partnership with the Global Center for Health Innovation (Global Center), Cuyahoga County, and Healthcare Information and Management Systems Society (HIMSS) is pleased to announce the participants of the second annual Medical Capital Innovation Competition (MCIC2) to be held at the Global Center for Health Innovation in Cleveland, April 23-24, 2018:
The theme of MCIC2 is "The Next Generation of Healthcare" - how big data, artificial intelligence, enhanced reality and other disruptive technologies will engage patients and clinicians, and take healthcare to new levels. The Competition is open to professional and collegiate teams from around the world that are working with big data, artificial intelligence, enhanced reality and other disruptive technologies to improve healthcare. $100,000 in prizes, mentoring, and access to business advisors, including world-class healthcare systems and collaborators, will be awarded. "The caliber of applicants and the level of interest for the Medical Capital Innovation Competition continues to grow," said Aram Nerpouni, President and CEO of BioEnterprise. "By connecting early-stage entrepreneurs with great ideas to mentors, capital and strategic partners, and providing cash prizes and co-development opportunities - the Competition provides a wonderful platform for Cleveland as a leader in healthcare innovation." The 2018 application process attracted applicants from 24 countries and 33 states. In comparison, the 2017 inaugural event attracted applicants from 10 countries and 27 states, and yielded cash prizes to six teams and co-development opportunities with world-class hospital systems to four teams. "Cuyahoga County is fast becoming the world hub for healthcare innovation and technology, based at the Global Center for Health Innovation," said County Executive, Armond Budish. "BioEnterprise and HIMSS, as hosts of the 2nd annual Medical Capital Innovation Competition, are attracting innovators and entrepreneurs to Cleveland from all over the world. This creates jobs and attracts capital to our region." The 2017 grand prize winner, MedRespond, an online healthcare communications company based in Pittsburgh, announced it will open an office in the Global Center and plans to hire several Cleveland-based resources. "Improving health through information and technology comes to the forefront at the Medical Capital Innovation Competition, as these innovators share their solutions to advance healthcare transformation. Digital health requires forward-thinking leaders, including the members of these teams, who understand and can apply artificial intelligence, big data, enhanced reality, and other disruptive technologies to ensure that the right information reaches the right person at the right time to make effective decisions for patient care," said Carla Smith, executive vice president, HIMSS. Interested individuals, community members, and friends and family are invited to watch the back to back company pitches on the second day of the competition, April 24th. Admission is free. For more information, and to register go to TheMedicalCapital.com. About The Medical Capital The Medical Capital initiative is a collaboration of Cleveland's internationally renowned clinical, educational, and research institutions, philanthropies, government, and economic development engines. Convened by BioEnterprise, the initiative promotes the vibrant biomedical and healthcare industry in the 18-county Northeast Ohio region. The Medical Capital includes more than 700 biohealth companies, 30 clinical, research and educational institutions, $735 million annually in research funding, and more than $200 million annually in private startup funding. For more information: TheMedicalCapital.com. About BioEnterprise BioEnterprise is a business formation, recruitment, and acceleration effort designed to grow the Northeast Ohio healthcare industry. Located in Cleveland, at the Global Center for Health Innovation and in University Circle, BioEnterprise provides management counsel and support services to health IT, medical device, and biopharmaceutical companies. In addition, BioEnterprise convenes and leads strategy for industry-building initiatives such as The Medical Capital, HIT in the CLE, and the Global Center for Health Innovation. BioEnterprise founders are Case Western Reserve University, Cleveland Clinic, and University Hospitals. Additional technology partners include the NASA Glenn Research Center, Cleveland State University and BioOhio. Since 2002, BioEnterprise and its partners have created, recruited and accelerated more than 350 health IT, medical device, and biopharmaceutical companies, and have helped these companies raise more than $2 billion in new funding. To learn more: BioEnterprise.com. About Cuyahoga County Cuyahoga County is home to world-renowned healthcare facilities, including Cleveland Clinic, University Hospitals and the MetroHealth System. It is also home to 1.2 million people and is comprised of 59 unique and distinctive communities, with Cleveland as its nucleus. The county is the economic center of Northeast Ohio. With more than 120,000 healthcare professionals, the healthcare field is the largest employer in Cuyahoga County. Additionally, Greater Cleveland has a booming biotechnology and biomedical industry, with more than 700 companies employing 230,000 people. About HIMSS HIMSS is a global voice, advisor and thought leader of health transformation through health information and technology with a unique breadth and depth of expertise and capabilities to improve the quality, safety, and efficiency of health, healthcare and care outcomes. HIMSS designs and leverages key data assets, predictive models and tools to advise global leaders, stakeholders and influencers of best practices in health information and technology, so they have the right information at the point of decision. HIMSS drives innovative, forward thinking around best uses of information and technology in support of better connected care, improved population health and low cost of care. HIMSS is a not-for-profit, headquartered in Chicago, Illinois, with additional offices in North America, Europe, United Kingdom and Asia. About The Global Center for Health Innovation The Global Center for Health Innovation is a convening platform for multi-partner public, private and philanthropic collaborations on healthcare matters of global interest. Capitalizing on Cleveland's healthcare assets and resources, it acts as the gateway between Ohio's healthcare and biomedical communities and the rest of the world. Connected to the Huntington Convention Center of Cleveland, the Global Center was built to attract additional investment and convene biomedical and healthcare activities that lead to ongoing innovation. To learn more: TheGlobalCenter.com.
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