Australia-based venture builder BlueChilli has picked Singapore as the new headquarters for its healthtech accelerator for startups that address health challenges and opportunities in Southeast Asia.
BlueChilli announced that it has partnered with Enterprise Singapore, an economic agency under the Singapore Ministry of Trade and Industry, to launch BlueChilli HealthTech Accelerator.
It has also joined Enterprise Singapore’s Startup SG Accelerator initiative with its HealthTech Accelerator program, the first dedicated to healthtech startups in Singapore.
“The founders selected to build or advance their startup through the program will get access to tech development services at no additional cost, world-class startup training, seed funding and a global network of advisors and mentors,” BlueChilli said.
The establishment of a permanent headquarters in Singapore is part of the venture builder’s broader strategy to bolster investment in Asia’s potential, according to BlueChilli CEO Sebastien Eckersley-Maslin.
BlueChilli, headquartered in Australia, with regional operations in the US, Indonesia, and New Zealand, has already invested in eight healthtech companies, including hardware startups BindiMaps.com and Talkiplay.com, mammography AI diagnostics service Alixir.ai, telemedicine platform VetChat.com, and out-of-home patient care platform CTARS.com.
Established in 2011, it has launched 132 startups that have collectively raised over $170 million.
The new accelerator, according to BlueChilli, will be a key driver in advancing its work with regional talent in building globally-scalable startups that draw on insights and capabilities from Asia, in collaboration with private enterprises and ecosystem partners.
The healthtech sector in the Asia Pacific is now the second largest in the world in terms of capital raised, after the US. Last year, $6.3 billion was deployed into healthtech startups in the region, significantly higher than 2017 and double the capital in 2016, BlueChilli said.
“Partnerships with global intermediaries such as BlueChilli, who have the experience and expertise, can help healthcare startups in Singapore develop and commercialise products that meet the needs of users globally,” said Enterprise Singapore deputy CEO Ted Tan.
BlueChilli is Australia’s largest startup accelerator. It has seen four exits, one IPO, and its startups today have a total value of $800 million.