Increasing the success rate of developing startup-corporate partnerships by a structured program to build and validate a joint value story by Kors van Wyngaarden, Medical Officer @Philips HealthWorks Based on extensive experience in engaging with startups in 12 weeks programs Philips HealthWorks is continuously tweaking their approach to increase the value of sustainable partnerships between Philips and Healthcare startups. Kors will share how HealthWorks uses a structured approach, stakeholder and ecosystem engagements to help startups increase their own value and, in parallel, to build and validate the partnership value story.

1. Kors van Wyngaarden
Medical Officer HealthWorks
November 2018
Accelerating innovation and fueling a
culture of entrepreneurship
An introduction to Philips HealthWorks

2. Royal Philips

3. Focused on the EUR 60+
billion lighting solutions opportunity
Focused on the EUR 100+
billion HealthTech opportunity
Lighting solutions
Philips Lighting
HealthTech
Royal Philips
Separating Philips into two strong companies

4. Philips
https://www.youtube.com/watch?v=DSGAh62zgfw1.5 min

5. Our Mission

6. We strive to make the world
healthier and more sustainable
through innovation
We’re aiming to improve the lives of
3 billion
people a yearby 2025

7. The Challenge

8. Global healthcare challenges
Too little accessToo little capacity Spiraling costsRising chronic
diseases
Growing and aging
population
healthworks.philips.com

9. 400M
people
1 out of 3
people
will be diagnosed with
cancer in their lifetime
worldwide have diabetes
1B adults
have hypertension
An estimated
500 million
people
suffer from respiratory
diseases
+

10. 10
Zhongshan Hospital
Shanghai

11. Shift to value-based
healthcare will reduce
waste, increase access
and improve outcomes
Digitization of
healthcare
Important trends driving the opportunity
Care shifting to lower-
cost settings and the
home
Increasing consumer
engagement in their
own health
healthworks.philips.com

12. We innovate across the health continuum
Providing propositions for
healthy living
Supporting predictive and
preventative care
Connecting care in the home
to improve quality of life

13. Innovating in the 21st Century

14. 14
A new perspective is needed

15. 15
Collaboration
leads to the best innovation

16. Co-creation with partners: Joining forces to
redefine the future of Healthcare
• Patients
• Startups
• Insurers
• Pharma
• Hospitals
• Investors
• Government
• …

17. Philips HealthWorks

18. Accelerate breakthrough
innovation
Fuel a culture of
entrepreneurship
Philips HealthWorks mission is to
And

19. We leverage internal and external
entrepreneurial innovation to fulfil our mission
Boosting innovation Fueling entrepreneurship
Breakthrough Acceleration Program
Accelerating breakthrough value propositions
and new business models
Startup Program
Partnering and investing in external ventures
Venture Incubation
Incubating and growing new businesses
Increasing internal agility and
a rapid prototyping mindset
Strengthening a culture of
entrepreneurial innovation
Attracting & retaining talent

20. Philips HealthWorks provides a unique setting to
drive entrepreneurial innovation globally
CAM
EHV
HAM
BGL
SHA
• Access to a unique healthcare ecosystem
• Access to internal capabilities and assets
• Deep mentoring from experts
• Dedicated space for incubation
• Access to funding
• Hubs working together as a network

21. Startup Program
Identifying the best HealthTech
entrepreneurs
and defining collaboration
opportunities

22. The Startup Program helps identify the best
entrepreneurs and define collaboration opportunities
Bangalore
Cambridge
Eindhoven
2017• +1000 startups assessed
• 16 startups invited
• 3 collaborations, 1 investment, 1 DD
• Kick off China for global reach
• Global AI program in H2 across all hubs
2018
Cambridge

23. Searching for great
startup collaborations
For entrepreneurs: Access
• Domain knowledge
• Assets (technology, IP)
• Ecosystem
• Funding
For Philips: Acceleration
• Technology edge
• New business models
• Risk diversification
• Portfolio of innovation opportunities

24. Program structure
Phase 3:
Pitch week and Breakthrough Day
Phase 2:
Experiment and learn
Bangalore Nine weeks One week
Phase 1:
Immersion period
Sprint 3Sprint 1
• Initial pitch
• Deconstruct
output
• Update pitch
• Confirm and
prioritize key
assumptions
• Experiments
• Set objective
Specialized training sessions and expert access
• Consolidation
of insight
• Updated pitch
• Course
correction
Sprint 2
• Final pitch
• Objective results
• Validated key
assumptions
• Go-to-Market
scenario
StageSprintsKeydeliverables
• Consolidation
of insight
• Updated pitch
• Course
correction
Progress board +
progress reports

25. Standard modules
In addition to a customized component of the program,
all startups will have the following modules related to core functions in Philips:
IP Generation:
What, Why and How?
1) What: IP101 – Principles of IP Protection
2) Why: IP value models (case studies)
3) How: Fostering IP culture, invention
capturing, and IP generation
Other Strategic IP Considerations
IP ownership including joint development
• IP risk management
• IP enforcement and licensing
Health Economics and
Market Access
1) Understanding Common Categories of
Risk Associated with Market Adoption of
New Technologies and Solutions
2) HEMA assessment
Understand opportunities/risks and the
product’s clinical and economic value
proposition potential
3) Problem Identification
Understanding the clinical problem that
is being solved
Business Case Creation
1) Focus of Session
• Market
• Value (revenue) creation
• Customer benefits
• Cost of operation
2) Specific Areas
• Current market sizing
• Financial benefits for customers
• Business case with financial projections
Quality and Regulatory
1) Medical Device or Solution
2) Quality System
3) Design and Development Framework
4) Regulatory Strategy
Regulatory and Quality Overview session
1:1 session to review individual strategy

26. Global Startup Program H2 2018
AI in Healthcare
Artificial Intelligence has the potential for enormous
disruption, particularly in healthcare.
Making AI work in a meaningful way for health systems, health
professionals and patients is a challenge for corporates and
startups alike.
Philips has taken significant steps in the initial application of AI
with the goal to increase speed, comfort & confidence, and is
now looking to enhance its approach together with leading
startups in the field.

27. We are looking for
change makers in health
technology
Health technology startups
early stage startup specializing in AI with a focus
on Radiology, Ultrasound or Oncology
We generally take teams that have;
• validated their technology
• have a working prototype
• more than 1 founder
• and are now focusing more on their
go-to-market strategy and approach.

28. AI in Healthcare Startup Program Participants
28 https://www.healthworks.philips.com/pages/AI_Healthcare_2018/

29. “By working every week
with Philips experts, we
dramatically shortened the
time from idea conception
to product roadmap”
Elizabeth Asai, CEO & Co-Founder, 3Derm,
Cambridge 2017 cohort

31. “The only way to win is to learn faster
than anyone else”
Eric Ries – The lean Startup