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SGInnovate announces investment in medical blockchain startup MediLOT Technologies

SGInnovate announces investment in medical blockchain startup MediLOT Technologies

SGInnovate announced
that it will be investing in the medical blockchain start-up, MediLOT
Technologies. SGInnovate is now a
Strategic Investor in the company, MediLOT, a blockchain healthcare platform that uses
Artificial Intelligence and other technologies to bring the latest and most
innovative advancements to patients and healthcare providers.

SGInnovate has invested in MediLOT
as part of its Deep Tech Nexus strategy which focuses on adding tangible value to the Singapore deep tech start-up
ecosystem in two key areas — development of Human Capital and deployment of
Investment Capital. With the support of partners and co-investors, SGInnovate backs deeply technical founders
through equity-based investments, access to talent, and support in building
customer traction. Their efforts are prioritised
around transformational technologies such as Artificial Intelligence,
Blockchain, and MedTech, which represent
impactful and scalable answers to global challenges. SGInnovate is a private limited
company wholly owned by the Singapore Government.

MediLOT is a decentralised healthcare platform built on blockchain, Artificial Intelligence and database management system technologies for
patients, healthcare providers, researchers and commercial companies. It has
committed itself to the principles of patient centricity, privacy, and
equitable data sharing. Integrating these principles, MediLOT leverages
technologies with over 5 years
of development that have been featured
in numerous peer-reviewed scientific publications. Utilising
the well tested blockchain-based GEMINI software stack, MediLOT allows patients
and doctors to fully unlock the value of their health data for better diagnoses
and more effective treatments.

MediLOT employs five
main technologies:

i.   GEMINI, a GEneralisable
Medical Information aNalysis, and Integration Platform. The objective is
to design and implement an integrative healthcare analytics system to address
various kinds of healthcare problems. The systems integrated in GEMINI cover data acquisition, data
cleaning, data integration, data processing, data analytics and data visualisation steps of the big data analytics
pipeline;

ii.   ForkBase, a system that supports high-level properties
demanded in many modern applications, including data versioning, collaboration,
and security. With its versatile
programming interface, rich semantics and high performance, ForkBase enables rapid developments of many classes of
scalable, distributed applications.

iii.   BLOCKBENCH, the first evaluation framework for analysing private blockchains. It serves as a
fair means of comparison for different platforms and enables a deeper understanding of different system design
choices. BLOCKBENCH measures overall and component-wise performance in terms of
throughput, latency, scalability, and
fault-tolerance.

iv.   Apache SINGA, an Apache Incubating project for developing
an open source machine learning library. It provides a flexible architecture
for scalable distributed training, is extensible to run over a wide range of
hardware, and has a focus on healthcare applications.

v.    Hyperledger++, an enhanced blockchain infrastructure of
Hyperledger. It uses trusted hardware to improve the trust relation between nodes
and its throughput by a wide margin.

MediLOT claims
that by using a dual blockchain solution with a unique layered architecture, its
platform is able to incorporate Artificial Intelligence and Data Analytics
capabilities on top of its control and data layers. This allows for machine
learning APIs and complex applications to be built on top of MediLOT platform.

SGInnovate backs deep
tech start-ups through equity-based investments, access to talent, and support
in building customer traction. MediLOT
is honoured to be the first Blockchain
and Healthcare Analytics company in Singapore that the company has invested in.
It is focused on transformational technologies such as Artificial
Intelligence (AI), blockchain and robotics that have horizontal applications to
many industries, as well as MedTech which impacts the healthcare industry.

“MediLOT has assembled
a great team with a vision to build an interoperable decentralised platform that can be used by all healthcare providers
to extract greater value from healthcare records, affording patients better
diagnoses and more effective treatments,” said Tong Hsien-Hui, Head of Venture
Investing, SGInnovate. “Their vision is in line with SGInnovate’s mission to
help develop high potential companies with products that will have global impact. We are proud to back MediLOT in
their journey to transform the healthcare industry around the world,” he added.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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