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Time Medical Systems represented HealthTech at the India-Philippines Tech Summit (IPTS) 2024
5th March 2024 — Time Medical Systems (Philippines), as a frontrunner in the health-tech industry, was part of the first ever India-Philippines Tech Summit (IPTS) focusing on three sectors: Agriculture, Finance, and Health. The IPTS 2024 was held in Shangri-La The Fort, Bonifacio Global City last Tuesday, March 5, hosted by the Embassy of India in Manila, with the Department of Information and Communications Technology (DICT) and the apex business chamber in the Philippines.
Significance of Collaboration between India and the Philippines
The partnership between India and the Philippines in the tech sector holds immense importance, fostering mutual growth and innovation.
Mr. Shambhu S. Kumaran, Ambassador of India, warmly welcomed more than 50 Indian and 100 Philippine tech enterprises who graced the event.
“Our political engagements, especially in the run-up to the 75th Anniversary of the establishment of diplomatic relations this year, have intensified, resulting in positive developments on multiple fronts—most notably on the strategic and economic side. Our trade has surpassed USD $3 billion in volume and continues to grow by leaps and bounds with India’s Act East Policy working in synergy with the Philippine’s own open and business-friendly approach. This is enabled as well as driven by new emerging and innovative technology, such as Digital Technology,” Mr. Kumaran said.
The ambassador also said that the world is changing in multiple ways, and as both India and the Philippines are somehow similar countries when it comes to democracies and population, can transform the digital economy dramatically.
“Change requires partnership, and I believe the IPTS 2024 paves the way for this.” he added.
Collaborative Efforts in Health-Tech
In the realm of health-tech, collaborative efforts can lead to breakthroughs in medical research, innovative solutions, and improved healthcare delivery. Time Medical’s proactive involvement in exemplifies the transformative power of cross-border partnerships, emphasizing the shared goal of advancing technology for the betterment of society.
Time Medical stands as a catalyst, promoting collaboration within the health-tech industry specifically. Through the IPTS 2024, they not only showcase their commitment but also underscores the broader benefits of strategic partnerships.
Ms. Joyce Socao, Managing Director & CEO, Time Medical (ASEAN), represented health-tech sector in the summit’s Inspire Segment to give an overview of the broad context of the developments as well as opportunities and challenges in the tech space through a brainstorming panel discussion.
Ms. Socao introduced Time Medical and said that the company is bringing MRI manufactured in India to Asia. As both countries seek advancement for the health sector, by digitalizing preventative and advanced diagnostics, they can help bridge a lot of gaps in healthcare.
“We want to make imaging available for all, one that is advanced, affordable, and accessible.” she emphasized.
Through the technologies that they’ve developed, early detection through MRIs and advanced digital diagnostics can help the people know what they have in advance to be able to prevent it from getting worse, and it can also bridge the shortage of healthcare workers.
Beyond dedicated technologically advanced machines, Time Medical’s cost-effective open MRI systems have made a global impact, serving healthcare facilities across the United States, Europe, China, India, Southeast Asia, Africa, and Latin America.
As the only Filipina in the panel, Ms. Socao talked about how the Philippines, being a challenging landscape comprised of 7,641 islands, needs to the strong collaboration of tech companies and the government to make quality healthcare accessible for all.
“We’re talking of AI and bridging the last mile, so in the Philippines, we really have to reach out to the far-flung communities,” she said.
“There’s a big area for growth and collaboration for us. I’ve been going back and forth to India and I can tell you that they’re not just good in pharma, but also good in devices, and the talents, scientists, doctors, are amazing. We’re looking forward for a stronger collaboration between the Philippines and India.” she added as a closing statement in the panel discussion.
Opportunities in the Tech Space
IPTS 2024 also showcased the tech companies both from India and the Philippines through various showcases, presentations, and the expo displaying the products and services of the participants.
The activities aim to introduce Indian and Filipino companies to the start-up ecosystem in the Philippines including techno-financial support to enable soft landing, market-entry and expansion, collaboration, opportunities, among other things.