Fidelidade, Fosun, and Hospital da Luz Boost Innovation Culture

The new edition of this Open Innovation program, led by Fidelidade and Fosun, focuses on technological solutions related to Artificial Intelligence and Sustainability in the fields of insurance and healthcare.

Lisbon, October 10, 2024 – The Fidelidade Group - in partnership with Fosun, Fosun Foundation, Hospital da Luz Learning Health, and with the support of Fábrica de Startups - launches the 7th edition of Protechting, its international open innovation program. Startups can apply until November 24, 2024, via the program’s official website, www.protechting.com. This year, the focus is on finding innovative solutions in the fields of Insurtech, Healthtech, and other technological areas incorporating, for example, Artificial Intelligence (AI) to act as enablers or accelerators. This edition also features close collaboration with the venture capital partners Shilling and Big Start Ventures.

With a history of success from the previous six editions, Protechting aims to foster global-scale innovation by offering participating startups the opportunity to develop pilots and collaborate directly with Fidelidade and the other partners.

Startups selected for the 7th edition will have the chance to work with leading players in the insurance and healthcare sectors and may receive up to €50,000 in funding for pilot development, divided among selected projects. Additionally, these startups may be invited to join a roadshow to China, where they can establish new strategic partnerships, expand their network, and explore new opportunities.

Since 2018, more than 40 pilots have been developed, resulting in 5 commercial agreements. The goal is always to establish continuous collaborations, as achieved in previous editions with success stories such as Visor-Ai, Bdeo, UpHill, Glooma, Nevaro, Gripwise, among others. In the last edition alone, 8 of the 14 semifinalist startups developed various validation initiatives (pilots or proof of concepts) with at least one of the Protechting partners.

The 7th edition of Protechting focuses on three main areas:

Insurtech: Seeking innovative solutions that improve customer experience and operational efficiency in the insurance sector. Priority challenges include Insurance Product Personalization, Claims Automation, and Fraud Prevention.

Healthtech: Emphasizing continuous investment in future healthcare, the focus is on solutions promoting well-being and health in a safe and accessible manner. Challenges include Preventive Care with technologies encouraging proactive health management, Early Disease Detection, and Remote Health facilitating patient care and monitoring. Moreover, innovation in Personalized Medicine and Digital Therapeutics is also key to ensure better patient outcomes.

Tech-Enablers: The power of AI and cybersecurity is crucial to driving digital transformation. Startups developing solutions in IoT, wearables, and real-time monitoring are also welcome to enhance risk management and ensure a safer, more personalized customer experience.

Startups with a prototype or more advanced solutions can apply to Protechting, aiming to develop pilots addressing internal challenges faced by the partners.

Main stages of Protechting 

Based on the shared vision of Fidelidade and Fosun, which define entrepreneurship as an essential source of innovation for building future societies, Protechting seeks to foster a culture of welcoming and developing innovation, providing access to important resources for the evolution and realization of business ideas.

Statements

Rogério Campos Henriques, CEO of Fidelidade: "Protechting 7.0 reinforces and consolidates our commitment to innovation, with sustainability as a central pillar of the program, allowing us to capture opportunities for collaboration and growth for Fidelidade with startups worldwide, featuring innovative, disruptive, and sustainable projects."

Isabel Vaz, CEO of Luz Saúde "In this 7th edition of Protechting, we once again play a leading role as a Healthtech partner, focusing on delivering excellent healthcare, improving patient experience, and addressing their needs through new and innovative digital solutions in close collaboration with startups."

Miguel Abecasis, Member of Fidelidade’s Executive Committee: "Throughout the Protechting editions, we have witnessed the real impact of collaborations, creating solutions that not only respond to strategic challenges but also shape the future of the healthtech and insurtech sectors. We are excited to continue this journey of open innovation, connecting innovative startups to our companies, and creating a unique opportunity to generate sustainable value. "

Li Haifeng, President of Fosun Foundation, "The last six editions of Protechting have made a significantly innovative influence for Fosun. This year, we concluded a successful roadshow for selected 3 teams to help them understand and dive into the Chinese market and look for opportunities. We will continue doing it to promote this kind of exchange from different culture backgrounds, especially in the field of innovation. "

Applications are open until November 24, 2024, and all information about the Protechting 7.0 program is available at www.protechting.com