Stockholm firms lead way on digital health
As Stockholm’s reputation as a world leader in life sciences grows, so does the number of new companies specializing in a field that is looking for new solutions to some of mankind’s most important problems.
There are now eleven digital health focused companies on Stockholm Business Region’s popular “hotlist”, which aims to make it easier for foreign investors to find partners in the region.
Ylva Hultman, business development manager for life sciences at Stockholm Business Region Development, said there had been positive interest in digital health from foreign investors and companies.
“We see a lot of activity within digital health right now,” she said. “The healthcare sector has opened their eyes to digital health innovations, and purchase from the hospitals is rising.”
Digital health has been defined as the convergence of the digital and genetics revolutions with health, healthcare, living, and society.
Hultman identified some areas within digital health which are getting increased attention: mental illness with solutions for cognitive behavioral therapy (CBT); fitness and well-being; and chronic diseases.
Among the digital health firms on the list are Biosync Tech, which innovations include a wearable sensor biofeedback system for stress management; Funbeat, which helps people to exercise by using social comparing tools; and Hoa´s Tool Shop, whose smartphone app helps people suffering from depression and anxiety.
Stockholm Business Region Development is also one of the founders of Digital Health Day, which runs on September 23-24 this year. The conference is aiming to combine advanced science, global capabilities and passion to provide innovative therapies that help people manage some of the most serious health conditions. Organizers expect a 25 percent increase in participants compared to last year.
In total, the number of firms on the Stockholm-Uppsala Life Science Investment Hotlist has swelled to a total of 46, up from about 20 just a year ago.
To qualify, companies must offer a product or service based on unique research, which will lead to a commercial solution with global potential. They must also have established themselves on the market with a finished product or service or – alternatively – be close to the commercialization phase.
The list was prepared in collaboration with the consulting firm Avanture. It was established as a tool for investors, making it easier to find the region’s life science gems. Foreign investments and partnerships are promoted by creating awareness of the list and an accompanying pitch book, via investor meetings and marketing initiatives.
The eleven digital health companies:
- Biosync Tech. AB
- DD Innovation AB
- Funbeat AB
- Hoa’s Tool Shop AB
- Inerventions AB
- Mando Group AB
- MID AB
- Mind Apps AB
- One Lab
- Quick Posture Sw. AB
- SciLife Clinic AB