mLab Southern Africa
Press release: [Cape Town, South Africa] 23 July 2018
HealthTech Market Maps: 50+ companies redefining health in South Africa
The healthtech opportunities defined in two infographics from mLab and reHealthAfrica
Click Images to view full Infographics
mLab, as part of its reHealthAfrica project in partnership with CSIR and the DST, has created two market maps for investors, startups and corporates wanting to better understand the opportunities and structure of the local HealthTech ecosystem.
Advances in technology, from the gradual improvements in mobile phone camera technology through to rapid advancements in AI have contributed to the growing levels of activity in the healthtech space, both in South Africa and internationally.
“For geographies like Southern Africa where relatively small improvements to the health system have the potential to positively impact millions of people, massively reduce costs and significantly improve patient outcomes, understanding the landscape is critical,” says Alex Fraser, head of Fraser Consulting and partnerships and ecosystem advisor for mLab.
The potential in this space is enticing. With 45 million South Africans reliant on the public healthcare system and a government spending, on average, just over R3000 per person and systems that have remained unchanged for decades, the industry is ripe for disruption.
“While the opportunity is clear, the challenges are significant and require a lot of money, time and skill to address. Without some way of sharing activity, there is the threat of doubling up on these efforts to reach the same conclusions or outcomes. These market maps are designed to give people a quick, broad overview of who else is the space and what they are doing so that everyone from the investment partner to the entrepreneur can make better and faster choices,” says Fraser.
reHealthAfrica is a project to rethink, redesign, reimagine and redouble efforts to unlock the potential of mobile Health and wellness innovation in Africa. The market maps started as an internal project as the team needed to understand the players but the tool’s value to the whole community was quickly realised.
The Startup and Stakeholder maps are living documents that will be regularly updated. If you want to be included in the next update, please visit www.mlab.co.za/healthstartupmap (startups) or www.mlab.co.za/healthtechmap (ecosystem actors) to submit or update your info. If you have any other questions or would like to contribute to this project please email [email protected]
Established in 2012, mLab is a youth-focused, tech-enabled, innovation, skills development and startup support organisation in South Africa. www.mlab.co.za
reHealthAfrica is about rethinking, redesigning, reimaging and redoubling efforts to unlock the potential of mobile health and wellness innovation in Africa. It is a joint initiative between CSIR, Department of Science and Technology and mLab. www.rehealthafrica.com
To: [email protected] or +27 (012) 844 0240 (Request Alex Fraser)