Tata Consultancy Services (TCS) is working with Health Innovation Exchange (HIEx), to deliver two digital solutions aimed at addressing the current challenges faced by global health ecosystems and pave the way towards a sustainable future.
HIEx is a UN-hosted partnership that brings together policymakers, innovators and investors to leverage innovation and technology to reach health-related Sustainable Development Goal (SDG) targets. As part of the partnership, HIEx and TCS Digital Garage, an innovation unit of TCS, will jointly develop a platform called SPINE – Specialised and Proficient Integrated Network of Experts.
Tackling perennial issues across the global healthcare ecosystem
The platform will leverage technologies such as IoT, artificial intelligence and analytics to connect people in need of healthcare solutions and services to a network of primary, secondary, and tertiary health experts and providers. It will help tackle the twin problems of inaccessibility and inequality facing the global healthcare ecosystem and deliver improved health outcomes for all.
The second part of the collaboration will see the forming of a healthcare financing platform called TCS HIEx tokenization platform for SDGs. It leverages blockchain technology to allow investors, including retail ones, to invest easily in promising healthcare start-ups from anywhere in the world, by purchasing unique HIEx SDG3 tokens.
Tokenization of equity allows for the easy and affordable creation, issuance, and transfer of digital tokens, thereby democratizing the fundraising process. This platform is expected to help health start-ups easily receive the funds raised and channel the money towards more innovation and market-ready solutions.
“We are confident that this partnership with HIEx will be a key step towards creating an equitable world where everyone has access to high-quality and affordable healthcare services,” said Girish Ramachandran, President, TCS Asia Pacific. “In keeping with our purpose-driven approach, TCS Digital Garage will utilize our expertise and collective knowledge to ideate and bring to market digital ecosystems and innovations that can help organizations solve real-world problems.”
Pradeep Kakkattil, Director, HIEx, added: “The collaboration with TCS is an important, strategic imperative that will go a long way towards resolving the humanitarian, environmental and societal challenges the world faces during these uncertain times. We look forward to working closely with TCS to implement the two digital solutions in the near future.”