1. SDG3
Good Health and
Well-being
Aligning Business Operations
With the SDGs Through
Collaboration With Startups
INSIDE: Four Startups That
Can Help Corporations Align
With Goal 3
By
SDGFORECAST
2020
AI-Driven Sustainability Insights

2. 2

3. Index
4 What is the SDG forecast by Valuer?
5 The Valuer platform uses AI to find SDG-related startups
7 Reaching corporate sustainability through collaboration with startups
8 About the UN Sustainable Development Goals
10 In focus: Sustainable Development Goal 3
11 Aligning business with SDG 3
12 Advice for corporations
13 Benefits for corporations
14 Market opportunities and technology trends
14 Corporate wellness market overview
15 Digital health market overview
16 Drug discovery market overview
17 Case Studies
17 Corporations that do a great job at tackling SDG 3
19 Four startups that can help corporations align with SDG 3
32 Key takeaways and what we expect in the future

4. 4
About Valuer.ai
Valuer is an intelligent matchmaking platform
that helps corporations, investors, and
accelerators discover compatible startups
that will boost their innovation. The company
supports the idea that large organizations
can modernize their work with the skills and
technology of startups while simultaneously
supporting their survival with industry
experience and resources.
To enable the formation of such symbiotic
partnerships, Valuer uses its crowdsourcing
network to discover startups relevant to the
large organization, and a machine learning
platform to evaluate them. Functioning as an
innovation radar, the platform continually learns
and “recalibrates” itself throughout the discovery
process to meet the customer’s unique needs.
Founded in 2017, Valuer has a team of more
than 90 people from all over the world and has
so far worked with BMW, Siemens Gamesa,
Novozymes, Grundfos, and Spirent, among other
prominent organizations.
What is the SDG
forecast by Valuer?
The following issue
focuses on Goal 3:
Good health
and well-being
Published monthly, each issue of this report
focuses on a different Sustainable Development
Goal (SDG). By taking a deep-dive into the
progress of the goal in question, it covers various
aspects of how the business sector can play an
essential role in achieving its aspirations.
Hoping to serve as motivation, the publication
starts with market analysis and the currently
trending technologies and moves onto the
possible benefits, challenges, and opportunities
for purpose-driven companies. Moreover, it
provides multiple examples of large organizations
and young startups that are doing excellent work
in ensuring a prosperous global community.
In line with Valuer’s rationale, the report stresses
the benefits that surface once various market
actors, specifically corporations and startups,
decide to work together towards achieving
environmental and social sustainability.

5. 5
How the Valuer
Platform Uses
AI to Find
SDG-Related
Startups
We ran the AI platform to identify the 1000
startups most relevant to three focus areas
related to SDG 3. Four of the relevant startups
we found, their technology explained in detail,
are included in this report (page 19).
How does the platform find startups
relevant to SDG 3?
The process starts with Valuer clustering its
database of startups potentially relevant to
SDG 3. Most notably, the startup descriptions
are processed by NLP, which finds patterns
impossible to recognize with tags and regular
search mechanisms.
The platform then references the clusters to
the three focus areas deducted from SDG 3. By
choosing the ones nearest to a projected point,
it finds the 1000 startups most relevant to each
area. The three focus areas are then processed by
the platform to identify similarities, which results
in subgroups with a high degree of relevance (see
color codes on the cluster illustration, Image 1).
Grouping startups from different
SDG 3 areas
The illustration shows the clusters of startups
(represented with dots) colored depending on
their projection area. Their proximity to other
startups depends on how much their solutions
have in common.
The image lets us make simplified conclusions,
but since the platform processes in 1024
dimensions, the insights we can draw from a 2D
illustration are limited. This is also why some dots
seem very distant from their projection areas.
Corporate
Wellness
Digital
Health
Drug
Discovery
Image 1: Valuer platform's AI clustering of
SDG 3-related startups
Smoking cessation
Mental health and workplace well-being
Telemedicine
E-Health
Digital health
Precision medicine
Genome sequencing
Vaccine Development
Database
Clustering
Smoking cessation
Mental health and workplace well-being
Telemedicine
E-Health
Digital health
Precision medicine
Genome sequencing
Vaccine Development

6. 6
Interesting insights and startup trends
The platform can draw several insights from
the clustering, including:
• Both subgroups within “Corporate Wellness”
are uniform in their offerings and different
from the other areas. This indicates a group
of technologies that address the sector
through similar approaches.
• The positioning of the “Telemedicine” and
“Precision Medicine” subgroups indicates the
presence of similar solutions. This suggests
spillover technologies between the “Digital
Health” and “Drug Discovery” sectors.
• The cluster of “E-Health” from the “Digital
Health” focus area is scattered across the
map, which indicates the presence of diverse
solutions. This might indicate that the market
is volatile, early in its development, and has
not settled on the main trends yet.
Finding the most relevant
SDG 3 focus areas
Тhe platform uses three parameters to assess the
clusters’ relevance, importance, and innovativeness:
• Success factor: The cluster score is based on
its startups’ success potential. The system
uses multiple parameters for this, including
funding, age, and human capital.
• Match factor: The platform uses our
customer’s Objectives and Challenges to
calculate how well an area matches their needs
(in this case, the information on SDG 3).
• Innovation factor: Our innovation potential
model is secret. But, for example, it gives
positive scores to previously unknown
combinations. For instance, it discovered the
combinations “Blockchain” “Water” for a
customer once, which guided their search.
Ranking the five SDG 3 focus areas
At this point, the platform ranks the results
to find the most suitable area of focus for
our customers. In this case, it used the three
parameters (Success, Match, Innovation) to
rank the SDG 3 clusters of startups. (Table 1)
“Drug Discovery” is the highest-ranked
cluster on our AI platform, while “Digital
Health Services” ranks the lowest. The
clustering shows a generally low Match score,
which might suggest a fragmented and less
mature group of solutions that are addressing
SDG 3.
Next step: Run the platform to find
the best-matching startups for your
company
Similarly, by using the Valuer platform,
companies can choose a focus area relevant
to their needs and find their best-matching
startups. The startups featured at the end of
this report (page 19) show the final format in
which our customers receive the companies
that were selected for them.
Table 1: Valuer platform’s evaluation and ranking of the
startups from different SDG 3 areas
Subgroup
Success
M
atch
InnovationTotal
C
luster
G
roup

7. 7
We are moving too slowly and face
great danger of coming up short of the
Sustainable Development Goals. To keep
pace with the growing societal needs, we
need to embrace innovation as the answer
to reducing the time and cost necessary to
achieve results.
Technological breakthroughs and
creativity are critical to advancing the
SDGs and facing the ever-increasing list
of sustainability concerns. Disruptive
innovation is not a silver bullet but holds
the highest potential in addressing complex
systemic global issues. Fortunately,
transformative change is something humans
have done many times before.
The private sector, in this context, plays
a crucial role in advancing the global
development agenda. However, no single
company can address such a challenge alone.
This is why collaboration between industry
players is essential to achieving the solutions
we need—and the philosophy of the SDGs
recognizes this.
Innovation:
Key Driver in Building
a Sustainable Future
Reaching Corporate
Sustainability Through
Collaboration With
Startups
By embracing collaboration with startups
and innovators, corporations can adopt
novel solutions and achieve cleaner and
more sustainable operations and products.
Such partnerships are one of the promising
ways to foster the future of industries,
rapidly scale-up efforts, and support the UN
Global Goals.
Moreover, the adoption of novel
sustainability solutions goes beyond
society’s call for greater transparency and
accountability. Blending purpose with
profit promises a competitive advantage
that meets the expectations of modern
customers and employees. Partnering with
innovative startups to make operations
sustainable can, among others, generate
new revenue, reduce costs in the long-
run, open the way to untapped markets,
increase supply chain resilience, and
improve brand image.
We’re already witnessing a wave of
progressive, profit-oriented companies and
entrepreneurs who are using innovative
models to enter SDG-related markets and
ensure long-term business growth. For
instance, Pfizer stays ahead of the curve
by expanding its digital health offering
with robotics-based solutions for patient
management, among other innovations.
18,385,000 USD
FROM THE VALUER PLATFORM:
AVERAGE FUNDING OF THE
SDG 3-RELATED STARTUPS

8. 8
In 2015, the UN general assembly adopted the
2030 Agenda for Sustainable Development,
which includes 17 Sustainable Development Goals.
Intended to be achieved by 2030, the goals are
designed to be “the blueprint to achieve a better
and more sustainable future for all.”
Signed by 193 heads of state, each goal has a
list of targets whose progress is measured with
specific indicators. With data available in an easy-
to-understand form, the 17 SDGs are broad-based
and interdependent—meaning that the action in
one goal’s area will affect the outcomes in others.
The SDGs build on the Millennium Development
Goals (MDGs) that were agreed by governments
in 2001 and expired in 2015. Aside from being
more all-encompassing than the MDGs, which
were considered to be too narrow in focus, the
consultation process for the SDGs was much
more inclusive. The new goals tackle a wide range
of areas, from poverty and gender inequality to
climate change.
About the
UN Sustainable
Development
Goals
THE GOALS ARE
DESIGNED TO BE
“The blueprint
to achieve
a better
and more
sustainable
future for all.”

9. 9
The
Sustainable
Development
Goals
11.
Sustainable
Cities and
Communities
2.
Zero
Hunger
10.
Reducing
Inequality
1.
No Poverty
12.
Responsible
Consumption
and Production
3.
Good Health
and Well-being
13.
Climate
Action
4.
Quality
Education
14.
Life Below
Water
5.
Gender
Equality
15.
Life
on Land
6.
Clean Water
and Sanitation
16.
Peace, Justice,
and Strong
Institutions
7.
Affordable and
Clean Energy
17.
Partnerships for
the Goals
8.
Decent Work
and Economic
Growth
9.
Industry,
Innovation, and
Infrastructure

10. 10
140
120
100
80
60
40
20
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
From the Valuer platform: Founding years of the corporate wellness startups
Development
Goal in Focus
SDG 3:
Ensure healthy lives and
promote well-being for
all at all ages
The purpose of the third sustainable
development goal is to ensure adequate
health for all, with a focus on groups
disproportionately affected by illness. Targets
within SDG 3 relate to reducing mortality
rates in infants and mothers, addressing
communicable diseases, such as HIV and
malaria, combating chronic conditions, and
providing universal health access.
Globally, heart disease, respiratory illnesses
(including lung cancer) and diabetes are the
leading causes of death. Additionally, according
to the WHO, almost 87% of premature deaths
by non-communicable diseases occur in low
and middle-income countries. middle-income
countries. However, health inequities come at a
cost for developed countries as well, with the
European Parliament estimating that around
1.4% of the union’s GDP is spent to mitigate
their effects.
Good health and well-being of individuals
are essential for a productive society, making
the challenge of addressing health-related
issues a matter of global concern. To that
end, the UN encourages public and private
stakeholders to connect and invest in the
research and development of drugs, vaccines,
and treatments. In addition, more effort needs
to be made to make quality care cost-effective
and accessible.

11. 11
Business implications
Health has both direct and indirect implications
for companies. Aside from businesses
dominating the private health and the
pharmaceutical sectors, companies are regularly
blamed for many of the factors that increase
health risks, including poor diets, air pollution,
tobacco, and alcohol. As a result, policy
measures are getting tighter, and organizations
are urged to adjust their business models.
Aligning
Business
Strategies
With SDG 3
900
800
700
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500
400
300
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100
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
From the Valuer platform: Founding years of the SDG 3-related startups
On the other hand, all companies will
significantly benefit from healthier employees,
customers, and infrastructure. But aside from
improving productivity across economies and
lowering costs for businesses, the increasing
popularity of preventative health and well-being
is expanding healthcare sectors and opening the
doors to new markets. According to estimations,
in 2017, wellness expenditures ($4.2 trillion)
were more than half as large as the total global
health expenditures ($7.3 trillion).
This section of the report includes advice for
organizations that are looking to embed SDG 3
into their operations and the resulting benefits
they can expect.

12. 12
Advice
for Corporations
Deciding to incorporate the SDGs into a
company’s operations can seem intimidating.
But fortunately, there are numerous tools and
guidelines, like the SDG Compass, which helps
organizations choose which goals are most
applicable to them and how.
The following recommendations focus on
SDG 3:Good health and well-being. They
are most relevant to corporations that are
considering a health and well-being strategy
but can be easily modified to fit the other
Sustainable Development Goals.
Utilize Data
Experts agree that the best starting point for
engaging with the SDGs is identifying the areas
where a business can have an influence and
the scale of the burden it’s trying to address.
For instance, to understand where it can have a
substantial impact, a company can look at the
major health burden in its area of operating.
One tool that organizations might find helpful
for this is healthdata.org.
Take into account your entire footprint
A health strategy takes into account a
company’s entire footprint, including operations,
employees, the supply chain, and the community
where it conducts business. Once you have a
better understanding of the health burdens your
capacity allows you to address, a good place to
start is where you have a direct impact—which
for most companies is their employees. Aside
from this, most organizations will find indirect
health impacts in the supply chain.
Define priorities and focus your efforts
There is a growing number of online tools designed
to help companies engage with the SDGs. For
instance, the SDG Compass website offers business
indicators mapped against the 17 SDGs and their
targets, which can help your company understand
where to concentrate its efforts.
Outline specific goals and KPIs
Once you’ve assessed your current situation, you
can set specific, measurable, and time-bound
goals for your organization. Selecting several
KPIs for each area of prioritization is highly
advised as an essential step to monitoring your
progress and for avoiding setting goals that are
too broad and impossible to measure.
Avoid short-termism
The SDGs are intended to be achieved by 2030
and to serve as “the blueprint to achieve a better
and more sustainable future for all.” The fact that
they can not be achieved overnight might seem
discouraging but can serve as a simplification for
organizations to make long-term sustainability
programs that are aligned with best global
practices.
Communicate your ambition
Numerous stakeholders in the sustainability
field advise that to stimulate accountability and
motivation, companies should announce their
targets publicly. But even though ambitious
goals usually result in greater impact and drive
internal innovation and creativity, it’s important
to consider the risk of criticism your company
might face if it doesn’t meet the targets in
time. One way to address this potential issue
is by embracing transparent communication
regarding your efforts and the challenges
you’re facing.
Innovate and collaborate
By combining their complementary skills with
other companies and innovative startups in
the value chain, corporations can make their
operations more sustainable in a way that
creates business growth. When used as a
framework for innovation, the SDGs can help
scale-up efforts and create new business
models and products.

13. 13
Improved Brand Image
A PwC study found that 78% of consumers are
more likely to buy from businesses aligned to
the SDGs. As a result, focusing on innovation
related to healthy lives and well-being will
not only help people in unsafe and unhealthy
living conditions but will also give brands a
competitive advantage over their competition.
Increased employee engagement
and productivity
According to the CIPD, on average, each UK
employee uses 7.5 sick days per year, costing
UK businesses £902 per employee. Having a
robust health and well-being strategy will help
employees avoid health issues and return to work
quickly once they occur. According to BMG, the
levels of employee engagement increase by 31%
points when they believe their employer cares
about their well-being.
Reduced legal and other business risks
Health-related regulations are tightening,
and aligning operations with SDG 3 will help
companies meet them on time and avoid
penalties. For instance, industrialized nations
are becoming more dedicated to lobbying and
tackling deaths from tobacco, alcohol, and air,
water, and soil pollution. Failing to adjust to
those policy measures can have a direct impact
on the profitability of companies.
Benefits
for Corporations
Innovating to ensure healthy lives can provide
companies with countless possibilities. Thus, it’s
challenging to list all the benefits of engaging
with SDG 3, but most experts agree on two
central advantages: (1) the financial superiority
of a healthier population, and (2) the expended
and new markets that arise from the focus on
preventative health and well-being.
These are some of the benefits that
organizations can expect from engaging
with SDG 3.
Increased financial performance
Aside from the human toll, a failure to meet
SDG 3 and improve the world’s healthcare,
can undermine economic growth and
curb productivity, especially in developing
economies. The lack of sexual and reproductive
healthcare, dirty water, traffic accidents, and
alcohol abuse, aside from communicable and
non-communicable diseases, can impose costs
on both communities and companies.
Access to new markets
Arguably, people are, now more than ever,
investing in their health and prioritizing their
lifestyle. This comes as the result of increased
consumer awareness of health problems
and expectations for treatments, a general
disappointment with healthcare options, as well
as the grind of our modern lives and jobs. As
a result, this causes an extension of healthcare
services, creating new markets for healthcare
companies and insurance firms, with the
Global Wellness Institute (GWI) valuing the
“wellness economy” at $4.5 trillion in 2018.

14. 14
Market
Opportunities
andTechnology
Trends
18,385,000 USD
7 years
FROM THE VALUER PLATFORM:
AVERAGE FUNDING AND AGE OF THE
CORPORATE WELLNESS STARTUPS
Opportunities
in the Corporate
Wellness Market
Findings from Mental Health First Aid show that
in the United States, almost half of the adults
experience a mental illness during their life, while
only 41% of those who suffered in 2018 received
professional health care or other services.
One of the main factors disrupting people’s mental
health is work-related stress. According to Stanford
research from 2015, serious workplace stress
causes 120,000 deaths and nearly $190 billion in
health care costs each year in the US.
On that note, Grand View Research projects that
the global corporate wellness market will reach
$97.4 billion by 2027, expanding at a CAGR of 6.9%
between 2020 and 2027. The report suggests that the
stress management segment will register the fastest
growth rate, as employers intensify the adoption of
onsite stress relief solutions for their employees.
This market is particularly driven by startups, with
Kaleido Insights reporting in 2019 that investors
have supported almost a hundred startups that
develop apps for wellness, happiness, and other
mental states. These startups together raised more
than $2 trillion as of April 2019.
Emerging Technology Trends:
• Digital nutrition platforms:
Еmployers introducing tools for
helping employees plan their meals
right, managе their calorie intake,
and maintain healthy eating habits.
• Tailored wellness: Еmployees enjoy
customized programs relevant to
their health, based on data from their
health records.
• Wellness gamification: Programs
and apps that motivate employees
to manage weight, eat healthier, and
complete fitness goals through a
rewards system.

15. 15
6,370,295 USD
FROM THE VALUER PLATFORM:
AVERAGE FUNDING OF THE
DIGITAL HEALTH STARTUPS
110
100
90
80
70
60
50
40
30
20
10
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
From the Valuer platform: Founding years of the digital health startups
Opportunities
in the Digital
Health Market
According to an EU report, by introducing and
funding digital technologies in the healthcare
industry, public expenditure on health and
long-term care has been increasing over the last
decades. These expenditures accounted for 8.5%
of GDP in the EU in 2015 and could reach up to
12.5% of GDP in 2060. This data suggests that
authorities have become increasingly aware of the
benefits of digital health solutions in long-term
care, and are allocating more resources.
The market analysis showed that even though
the increasing support for digital health from
the governments will spur growth opportunities,
it is still the high cost of implementation that will
challenge the growth of the market participants.
According to Technavio, the global digital
health market is poised to grow by $207.34
billion from 2020 to 2024, registering a CAGR
of over 20%. The report suggests that North
America accounts for around 45% of the
market growth, while in terms of technology,
the growing adoption of mHealth is a relevant
factor that will contribute to market growth.
Emerging Technology Trends:
• mHealth apps and wearables: Apps
providing personalized wellness
coaches combined with biometrical
data from wearable devices.
• Telemedicine: Using technology to
create personalized and virtual health
services, accessing health professionals
easier, and reducing inequalities in health.
• AI-based monitoring: Digitalized
solutions helping doctors to detect
potential diseases sooner and enabling a
transition from treatment to prevention.

16. 16
Opportunities
in the Drug
Discovery Market
19,786,319 USD
8 years
FROM THE VALUER PLATFORM:
AVERAGE FUNDING AND AGE
OF THE PRECISION MEDICINE
STARTUPS
According to the Johns Hopkins Bloomberg
School of Public Health, clinical trials that
aim to comply with the FDA regulations for
new drugs have a median cost of $19 million.
However, this represents less than 1% of the
average total cost of developing a new drug,
which in recent years has been estimated at
between $2 to $3 billion.
But novel technologies like AI are now paving
the way to faster drug discovery at reduced
costs. For instance, AI and machine learning can
be used to predict the effects of certain drugs on
specific diseases and conditions. On that note,
according to Markets and Markets, the global AI
in drug discovery market is projected to reach
$1.4 billion by 2024, registering a CAGR of
40.8% from 2019 to 2024.
Furthermore, BCC Research estimated the
global market for drug discovery technologies
at $54.7 billion in 2017, projecting it to reach
$85.8 billion by 2022, growing at a CAGR of
9.4% during 2017-2022.
Emerging Technology Trends:
• AI and analytics: Data-based platforms
that accelerate drug discovery for
specific diseases with lower failure rates.
• Gene therapy: Technologies like
the CRISPR, which modifies DNA
sequences and gene function to relieve
the challenges of rare diseases.
• Bacteriophages: A virus-based
treatment alternative for bacterial
infections that decreases the chances
of developing antibiotic resistance.

17. 17
Corporations
That Do a
Great Job
at Tackling
Goal 3
9,352,580 USD
7 years
FROM THE VALUER PLATFORM:
AVERAGE FUNDING AND AGE
OF THE E-HEALTH STARTUPS
Nike
American sportswear retailer Nike has
committed to promoting health and well-being
both among its employees and its consumers.
As part of its business model, the company has
mainly focused on promoting physical activity,
as well as mental health.
In 2019, Nike made gym access free for employees
at its European, Chinese, and North American
headquarters. Through the global Employee
Assistance Program, NIKE employees and families
can access a network of mental health counselors
for free, without the need to enroll in a medical
plan. In 2019, the company also made Headspace,
a guided meditation and mindfulness app,
available to its employees worldwide.
Additionally, Nike has made strides toward
promoting healthy living among its consumer
base, particularly for kids. Through a
collaboration with JUMP-JAM, a program that
merges sport and free play, Nike was able to
train staff at 35 Children Center locations in
Tokyo, reaching over 2450 kids. Together with
U.S non-profit organization Girls, Inc, the retailer
produced a physical literacy curriculum called
Steppingstones to help girls ages 8-10 develop
movement skills based on a diverse selection of
sports and physical activities. In 2019, together
with its community partners, NIKE helped more
than 17 million kids get active.
Within its kid-centric initiative, the company
also supports Active Schools programs around
the world. With the help of several partnerships,
in 2019, the company trained about 100,000
community coaches to create a positive
approach towards sports for their students.
The following three
examples showcase
corporations that are
successfully aligning
their operations with
the SDG 3 targets

18. 18
28,315,373 USD
8 years
FROM THE VALUER PLATFORM:
AVERAGE FUNDING AND AGE
OF THE VACCINE DEVELOPMENT
STARTUPS
Deutsche Telekom
Telekom has recognized the potential of
information technologies in catalyzing the
achievement of good health and well-being. To
that end, the company has outlined a strategy
for incorporating SDG 3 in its business model
through e-Health solutions and employee health.
One of the KPIs set by the company in 2019
was smart innovations. Within this area, Telekom
launched Sea Hero Quest, a navigation game
available for commercial entertainment that
simultaneously helps scientists research spatial
navigation ability in individuals across all ages.
Insights from the game, already downloaded by
more than 4 million people, aid in discovering
potential mechanisms for dementia. Telekom’s
partners in the project, a consortium of UK
universities and research centers, can now
obtain information 150 times faster than with
traditional methods.
In addition, Telekom has developed iMedOne®,
a hospital information system that connects
hospital staff and coordinates hospital processes
from logistics to patient management. On the
platform, physicians and nursing staff have
continuous access to key data, such as lab
results, notes, and prescriptions. To date, more
than 230 clinics in Germany have implemented
the iMedOne software.
To address employee health, the company has
launched several initiatives for occupational and
health safety, including mandatory ISO-standardized
safety training, health check-ups, immunizations,
and cancer screenings, among others. Telekom also
supports employee psychosocial health through
free and anonymous counseling hours.
Pfizer
Pfizer has identified the third SDG as crucial “for
both its business and societal mission”. Guided
by the UN agenda, the company has integrated
several SDG 3 targets within its business strategy.
To help prevent infant mortality, Pfizer has
launched a research project to develop a vaccine
for Respiratory Syncytial Virus (RSV), currently in
clinical trials. RSV annually infects an estimated
number of 33 million children under 5 years of age
globally and results in 120,000 preventable deaths,
mostly in low and middle-income countries.
Through the Pfizer Foundation, the company
has led several programs to improve healthcare
access in the developing world. The foundation’s
Healthy Families, Healthy Futures program has
supported four non-profits across Africa: CARE
in Benin, the International Rescue Committee in
Ethiopia and Uganda, Save the Children in Malawi,
and World Vision in Kenya. The goal of this
program is to ensure access to family planning
tools and routine immunizations, particularly for
women. In addition, in 2018, Pfizer partnered
with Gavi, an international alliance dedicated
to ensuring access to vaccines. Through the
partnership, Pfizer was able to provide vaccines
for pneumococcal disease in over 50 countries
and train over 40,000 healthcare workers in
proper immunization methods.
To promote RD, in 2017, Pfizer launched the
Healthcare Hub program for startups working
within digital health. “At Pfizer, we believe that
partnering with digital health startups can really
accelerate healthcare innovation,” says John
Gordon, leader of the program and Head of
Digital in International Developed Markets.

19. 19
Four Startups That Can
Help Corporations Align
With Goal 3
This publication demonstrates the way that
Valuer helps corporations find solutions for
their sustainability goals. For this purpose,
we’ve included a selection of four startups that
can help corporations become sustainable in
regards to SDG 3.
The format of the startup features resembles
the one our customers receive once their
startup search is finalized. But, there’s one very
significant difference—the selection here is a
general example that doesn’t take into account
a corporation’s unique needs.
BioVariance
page 28
BioVariance develops AI solutions for precision
medicine in the healthcare, pharma, and biotech
sectors.
Zipongo
page 20
Zipongo delivers a digital platform to help curb
chronic illness by addressing eating behaviors.
Infermedica
page 32
Infermedica has developed a proprietary AI-based
system that guides patients to the right care.
Alex Therapeutics
page 24
Alex Therapeutics develops CE-certified
digital therapeutics products that combine
machine learning with evidence-based support
methodologies.

20. 20
Business logic: Summary:
• The idea behind Zipongo is to combat the
popularity of fast and processed food by
making healthy food choices accessible,
cheap, and tasty.
• The platform uses data science to create
personalized nutrition recommendations for
eating at home, at work, and in restaurants.
• Zipongo is integrated with the company’s own
Foodsmart app, as well as with Amazon Fresh,
Instacart, Plantable, and Sun Basket.
• According to Markets and Markets, Zipongo is
a key player in the personalized nutrition market,
which is predicted to grow at a CAGR of 15%
between 2020 and 2025.
Product Concept
Driven by the “food as medicine” concept, the
startup’s core product is the Zipongo nutrition
platform. The platform quizzes users on their eating
habits and other health parameters and combines
the data with nutrition science and behavioral
economics to generate personalized nutritional
recommendations. These can include recipes, grocery
lists integrated with delivery platforms, restaurant and
workplace cafeteria recommendations.
Business Model
The startup operates with a B2B model, mainly
targeting U.S. health plans and employers interested
in nutrition-based corporate wellness programs.
The Zipongo platform brings value to clients by
effectively targeting unhealthy eating behaviors and
decreasing costs associated with nutrition-related
chronic illnesses.
Revenue Model
Zipongo generates revenue through a subscription
model. Clients pay a yearly subscription fee
calculated per member.
Customers
Zipongo
Zipongo delivers a digital platform to help curb chronic
illness by addressing eating behaviors.

21. 21
Meet the team:
MATCH
1L O C A T I O N : San Francisco, CA, United States
F O U N D E D : 30/12/2011
F U N D I N G : 46,028,000 USD
E M P L O Y E E S : 28
W E B S I T E : meetzipongo.com
Milo Krastev has served as Zipongo’s CFO since 2018.
He has over 15 years of experience in venture capital,
finance and entrepreneurship, which includes the
positions of Head of Financial Strategy Analytics at
Palantir Technologies and Investment Banker at Bank
of America Merrill Lynch, among others. Krastev holds
degrees from Georgetown University and the London
School of Economics.
MILO KRASTEV
Co-Founder CFO
Jason Langheier is a medical doctor with a keen
interest in social entrepreneurship, nutrition, and
preventative medicine. Before founding Zipongo, he
was co-founder and CEO of Proventys, a predictive
medicine startup, and founder and chairman of
Fitness Forward. Langheier also holds an MPH in
Epidemiology, Biostatistics and Decision Sciences
from Harvard University and is currently a Board
Director at Partnership for a Healthier America.
Scott Matthews is an entrepreneur with an extensive
background in digital health. Before joining the
Zipongo team, he worked as VP of Business
Development at 23andMe, a consumer genetics and
research company, and VP of Product Marketing
and User Engagement and Growth, respectively,
at Castlight Health. Matthews holds an MBA in
Entrepreneurial Management from the Wharton
School.
JASON LANGHEIER
Founder CEO
SCOTT MATTHEWS
COO
M H E A LT H
H E A LT H C A R E
IDEA PRODUCT/ PROTOTYPE GO TO MARKET GROWTH EXPANSION ESTABLISHED

22. 22
Z I P O N G O
F
ood can serve to nourish health, yet it
is currently one of the primary causes
of chronic diseases. According to the
U.S. Center for Disease Control and
Prevention, 6 out of 10 U.S. adults suffer from
at least one chronic condition, including heart
disease, diabetes, and obesity; and poor nutrition
is a key lifestyle risk. These conditions come at a
high cost, with the U.S. healthcare system annually
spending $147 billion on obesity only.
While Jason Langheier was working at the Pediatric
Obesity Clinic at Boston Medical Center, he was
tasked with creating a weight-management program
to tackle rising childhood obesity. Looking at the
causes, the doctor realized that the fast food and
consumer packaged goods industries spend billions
on advertising to both kids and adults, making high-
sugar, high-fat foods the go-to choice for families.
Most of the solutions designed to address resulting
weight issues were based on strict diets, even
though more than 90% of people who lose weight as
a result of dieting gain it back within five years.
The odds were stacked against healthy choices,
and Langheier decided to change them. In 2010,
he founded Zipongo, a startup that works to
change the way people relate to food by making
healthy choices tastier, cheaper, and more
sustainable.
Using Food
as Medicine
to Tackle
Chronic
Diseases
“We started by asking kids what
they liked, what grossed them out,
learning what grocery stores were
nearby, and what the food budget
was for these families. We were able
to create personalized grocery lists
that were tangible and led to much
lower insulin resistance and lower
BMI scores for the kids,”
EXPLAINS LANGHEIER.
To streamline the process, the Zipongo team decided
to leverage the processing power and accessibility of
digital technologies.
A Trusted Guide for
Choosing Healthy Food Anywhere
Today, Zipongo is a modular, personalized digital
platform available both as a mobile app and a web
interface. Each user journey starts with taking the
Nutriquiz, a questionnaire that probes into the user’s
eating habits, allergies, and preferences. In addition, the
platform can process user reports on parameters such as
blood pressure, cholesterol levels, and body composition.

23. 23
M AT C H 1
“Our platform is based on the
principles of brain science as much
as nutritional science. It’s about
more than saying, ‘here’s what you
should be eating’; we encourage
understanding why you don’t eat
that way already, and providing
decision support throughout the
day,”
SHARES THE TEAM.
“We deliver to our users actionable
personalized recommendations
in real-time at the critical point of
food decision, through a trusted
environment free of unhealthy
influences.”
In fact, recommendations made by Zipongo target
all the places where people make food choices:
cooking, grocery shopping, eating in restaurants,
and in the workplace cafeteria. To aid in cooking,
the app can suggest recipes and help the user
make grocery lists and find discounts. Zipongo
also provides nutritional information and advice
about the food available in restaurants, and can be
combined with cafeteria menus.
Possibly one of the biggest perks of Zipongo is
its focus on food delivery, an increasingly popular
way of grocery shopping. The startup integrates
the Zipongo app with their proprietary Foodsmart
app, through which users can order food. On top
of Foodsmart, Zipongo can connect to Amazon
Fresh and Instacart, two of the largest grocery
delivery programs in the US. The startup has also
partnered with Plantable and Sun Basket, delivery
services for fresh, organic groceries and pre-
prepared meals.
In 2018, Zipongo launched Foodscripts, a
module of the Zipongo platform, which offers a
specialized program for individuals suffering from
hypertension, obesity, and diabetes. Foodscripts is
linked with a network of registered dietitians and
health plans, adding a telenutrition element to the
platform.
Serving Health and Wellness-Oriented Clients
Across the U.S.
Because of its comprehensive approach to promoting
healthy nutrition, Zipongo has recorded impressive
traction in the market since its inception in 2010. The
startup’s main targets have been corporate clients
interested in adding nutrition to their corporate wellness
programs; already, corporations such as IBM, Disney,
and Kohler have entrusted their employee nutrition to
Zipongo. In addition, Zipongo has served clients in the
healthcare field, including health insurance plans such
as Dean Health, Independent Health, and CDPHP, as well
as corporate wellness company Virgin Pulse.
In January 2018, Zipongo completed a Series B1 round
of financing led by Zaffre Investments and Seventure
Partners. The round added $18 million to the startup’s
investment capital, now topping $46 million. The
investment comes in line with a rising global interest
in personalized nutrition, with reports by Markets and
Markets predicting a CAGR of 15% for the personalized
nutrition market between 2020 and 2025.
According to the research agency, the market was
worth $8.2 billion in 2020, and will grow to $16.4 billion
by 2025, due to factors such as rising health awareness
and a proliferation of digital healthcare solutions.
Markets and Markets identifies Zipongo as one of the
key players in personalized nutrition.
Once the app collects user data, it can generate
tailor-made meal plans. A lot goes into creating
these recommendations: from the user’s personal
preferences, to general nutritional science and
behavioral economics. For the Zipongo team, this
is the focal point of their work.
IN LIGHT OF THESE TRENDS,
THE BUSY ZIPONGO TEAM SHOWS
NO SIGNS OF SLOWING.
“Our main plans for the
future are to expand our
telenutrition offering to
increase convenience
to seeing registered
dietitians, to create
a more personalized
experience for our users,
and to continue making
online grocery ordering
more seamless given
adoption has skyrocketed
during COVID-19,”
CONCLUDES THE TEAM.

24. 24
Business logic: Summary:
24
Business logic:
Alex Therapeutics
Alex Therapeutics develops CE-certified digital therapeutics products that
combine machine learning with evidence-based support methodologies.
Product Concept
The Alex Therapeutics platform is designed for
the quick development of new CE-certified Digital
Therapeutical (DTx) medical devices. The platform
allows for the combination of existing programs,
code, and the AI engine, together with Cognitive
Behavioural Therapy (CBT), Acceptance and
Commitment Therapy (ACT), and other evidence-
based methodologies. The startup's first commercial
product is the Alex Quit Smoking app. The app
features the Motivation and Triggers questionnaires,
informing the algorithm on the environmental
and personal conditions of the smoking habit. In
response, Alex offers Habit Hacks in the form of
tools and tips.
Business Model
Alex Therapeutics mainly operates on a B2C
model, offering its app to individual users looking
to manage their cigarette addiction. However,
the company aims to expand to other verticals
within mental health and addiction. In addition,
the company is developing a B2B component by
collaborating with employers, pharmaceutical
companies, and other healthcare stakeholders. Alex's
main value proposition is that it takes a science-
based approach to improve the preventative aspect
of chronic conditions and save associated costs.
Customers
Revenue Model
Alex Therapeutics earns revenue by charging
subscription fees to app users and employers.
Additionally, the startup uses its platform and know-
how to develop projects with partners from the
pharmaceutical and healthcare industries.

25. 25
Meet the team:
MATCH
2
• Alex Therapeutics aims to prevent chronic
illnesses by targeting unhealthy habits.
• The company's first commercial product, the
Alex Quit Smoking app, combines machine
learning and evidence-based therapeutic
approaches to help users quit smoking.
• In 2019, Alex Quit Smoking was approved as a
CE-licensed, Class 1 Software Medical Device.
• According to Grand View Research, the global
market for mHealth apps will grow at a CAGR of
44.7% between 2018 and 2026, to reach $236
billion by the end of the forecast period.
L O C A T I O N : Stockholm, Sweden
F O U N D E D : 01/03/2018
F U N D I N G : 5,600,000 SEK
E M P L O Y E E S : 12
W E B S I T E : alextherapeutics.com
P E R S O N A L H E A LT H
T H E R A P E U T I C S
A R T I F I C I A L I N T E L L I G E N C E
H E A LT H C A R E
S O F T W A R E
IDEA PRODUCT/ PROTOTYPE GO TO MARKET GROWTH EXPANSION ESTABLISHED
OLIVER FLEETWOOD
Co-Founder CTO
John Drakenberg Renander is a psychology graduate
with an MSc in Business and Economics from Uppsala
University. He brings versatile experience, from
marketing to product development and headhunting,
thanks to his involvement in diverse business teams.
Renander is also associated with Arista Education, a
private education and tutoring company, which he
founded in 2005.
JOHN DRAKENBERG RENANDER
Co-Founder CEO
Before co-founding Alex Therapeutics, Oliver
Fleetwood had been serving as the CTO of the Nordic
HR-Tech company Prepaird for three years. In addition,
he worked as a software developer for several
computer software and IT businesses. Fleetwood is
a physicist by training, currently pursuing a PhD in
Theoretical Computational Biophysics at the KTH
Royal Institute of Technology, where he previously
obtained his MSc in Theoretical Physics.
Summary:

26. 26
A L E X T H E R A P E U T I C S
A Pocket Therapist
Sets out to Break
Unhealthy Habits
T
oday, chronic illnesses in the developed
world are on the rise. According to the U.S.
Center for Disease Prevention, they account
for 7 out of 10 deaths annually. Chronic
conditions often occur as a result of unhealthy habits,
such as tobacco use, inadequate nutrition, insufficient
physical activity, and excessive consumption of
alcohol. In addition to claiming the lives of many,
chronic diseases account for a significant portion of
total healthcare expenditures worldwide.
Efforts to curb harmful lifestyle choices have been
complicated by a lack of adequate access to effective
and consistent therapeutic solutions. Two Swedish
entrepreneurs, John Drakenberg Renander and Oliver
Fleetwood, decided to tackle this challenge. In 2018,
they co-founded Alex Therapeutics, a startup aiming to
help people break unhealthy habits through technology
and a personalized, evidence-based approach.
“Today, if you actually need
psychological help for a
mental problem or a bad
habit that you have, there
is a pretty high threshold to
gaining that help. There is a
stigma involved—you don’t
want to actually contact a
therapist. The idea behind
Alex is that it should be as
easy as possible. You should
be able to receive the help
that you need,”
COMPANY REPRESENTATIVES
TELL VALUER.
In line with that, the startup now offers Alex Quit
Smoking, an app designed to be a friendly, non-
judgmental companion in the journey toward smoking
cessation. The solution uses machine learning in
combination with Cognitive Behavioral Therapy (CBT)
and Acceptance and Commitment Therapy (ACT) to
help users quit smoking and remain smoke-free.
Delivering Science and Data-Driven App Therapy
To provide a tailored approach, the Alex app deploys
two questionnaires tagged Motivation and Triggers.
Through the Motivation survey, users can answer how
motivated they feel about quitting smoking and what
benefits they get from smoking, e.g. taste, a calming
effect, and socialization. Additionally, they try to identify
the disadvantages, including health consequences, cost,
and diminished appearance. Furthermore, the app asks
the user to identify the potential benefits and challenges
of quitting smoking.
Following the Motivation survey, the app deploys
the Trigger questionnaire designed to assess the
environmental and individual patterns that accompany
the habit. Questions probe the user to pinpoint what
situations trigger smoking, such as getting a drink
or taking a break from work, as well as what feelings
or physical sensations give them cravings, be they
feelings of anger or a need to fiddle or fidget.
This preliminary information then passes through
the app’s algorithm to offer Habit Hacks. Within this
module, Alex offers two tools—deep breathing and
focus—and eight different categories of tips on how to
relieve cravings, including relaxation and distraction.
Additionally, Alex offers an “emergency” service
for momentary help during cravings. Through
this service, the app asks users questions on their
environment and emotional state and to agree/
disagree with statements like “I want to get fresh
air” or “I’m a more enjoyable person when I smoke.”

27. 27
M AT C H 2
Based on combined data, the app can offer four
best Habit Hacks to try to ease the craving at the
moment. Finally, Alex asks the user whether they
ended up smoking the cigarette or not. Unsmoked
cigarettes are recorded in the app as money and
hours of life saved.
All the information the app collects is integrated
into the platform’s backend algorithm. For one, this
allows the software to propose individually tailored
strategies for the user based on what had worked
for them and similar users in the past. Importantly,
this data can also be useful for understanding habit
patterns on a larger scale.
“Right now, we are more actively
pursuing a B2B model, essentially
because Alex is a platform, and
Alex Quit Smoking is just the first
iteration. For our B2B ventures,
we are in discussion with different
pharmaceutical companies, some of
them very much global, about how
we can take our platform knowledge
and our experience in digital
therapeutics within CBT and apply
that to different areas of treatment,”
REVEAL COMPANY REPRESENTATIVES
DURING AN INTERVIEW.
“We are on a mission to help billions of
people break free from unwanted habits
and back to better health. With plans
to expand into other verticals within
addiction and mental health, smoking
cessation is only the beginning,”
CONCLUDES THE TEAM.
So far, Alex Therapeutics has established a partnership
with a Swedish insurance provider to aid their
policyholders in preparing for surgery to avoid unwanted
risks from smoking. Moreover, the startup has teamed
up with a Swedish telemedicine company to create a
comprehensive online treatment toolkit, combining Alex
with professional clinician consultations over video or chat.
Their accolades go a long way. In 2019, the Norrsken
Foundation listed Alex Therapeutics as a Top 100 Nordic
Impact Startup, whereas the Royal Swedish Academy of
Engineering Sciences included them among its top 100
most promising companies. Throughout its journey, the
startup has also received financial support from the King
founders through their Sweet Studios fund. In 2019, Alex
was approved as a CE Class 1 Software Medical Device and
currently has the EU, the USA, and India as its main markets.
With a product of this kind, Alex Therapeutics eyes
the growing global market for mHealth apps. A report
published by Grand View Research projects a market
value of $236 billion by 2026, with a CAGR of 44.7%
during the 2018-2026 forecast period. MHealth apps owe
their impressive growth to several factors, including the
increased adoption of advanced technologies in healthcare
as well as the need to reduce the load of overburdened
healthcare facilities.
The company plans to continue its global outreach,
develop its business model further, and expand its
portfolio of treated illnesses.
Alex Joins a Burgeoning Market for
mHealth Apps
Currently, the startup is in the process of A/B
testing Alex Quit Smoking in different end-user
markets. In addition, the company is working
towards marketing the app in collaboration with
businesses and employers. On that note, the
Swedish State Railways (SJ) now offers Alex Quit
Smoking to all its employees.

28. 28
Business logic: Summary:Business logic:Business logic:
Product Concept
The company’s current product portfolio consists
of three core products: (1) BioCore Studio, a web-
based data analytics platform that incorporates
machine learning and data mining algorithms for the
generation of customized and automated analysis
pipelines for various data types, (2) OncoVariant,
a solution that provides individualized treatment
options for cancer patients based on their genetic
profile and high-quality scientific evidence, and (3)
Pillbox, an app for monitoring patient medication
adherence. Additionally, the company is working on
another product, OncCOVER, a diagnostic test for
individualized treatment selection in colon cancer.
Business Model
BioVariance uses molecular genetics, big data,
and artificial intelligence to enable and empower
personalized research and care. To this end,
BioVariance works with a B2B model, providing
its solutions to organizations working within the
healthcare, pharma, and biotech sectors. So far,
customers have included pharmaceutical companies
and oncology clinics in Germany.
BioVariance
BioVariance develops AI solutions for precision medicine in the
healthcare, pharma, and biotech sectors.
Customers
Revenue Model
The company’s revenue model is based on multiple
streams. It charges a fee per usage for the diagnostic
tool and a license fee in combination with a fee per
usage for its software solution. In addition to these
streams, the company plans to charge a monthly
fee from health insurance companies, based on
partnerships.

29. 29
Meet the team:
MATCH
3
• The idea behind BioVariance is to combine
artificial intelligence with molecular genetics to
provide personalized care for cancer patients.
• The company’s suite of software solutions uses
machine learning and data mining algorithms to
process data from biomedical testing and clinical
research to recommend treatment options.
• BioVariance has been named “Innovator of
the Year” by Statista and the Berlin Institute of
Innovation and Technology for three consecutive
years.
• According to a report by Allied Market Research,
the global AI in medicine market is estimated to
increase from $719 million in 2017 to circa $18.1
billion in 2025, registering a CAGR of 49.6%.
L O C A T I O N : Waldsassen, Germany
F O U N D E D : 26/09/2013
F U N D I N G : 2,700,000 EUR
E M P L O Y E E S : 18
W E B S I T E : biovariance.com
H E A LT H D I A G N O S T I C S
H E A LT H C A R E
IDEA PRODUCT/ PROTOTYPE GO TO MARKET GROWTH EXPANSION ESTABLISHED
Prior to founding BioVariance, Josef Scheiber worked
as a Senior Scientist for Biomedical Informatics at
Roche Diagnostics and as a Knowledge Engineer for
Novartis Pharma AG. His educational background is in
biology, with a degree obtained from the University of
Regensburg. Scheiber also holds a PhD in Pharmacy
from the Julius Maximilians University of Würzburg.
JOSEF SCHEIBER
Founder CEO
Summary:

30. 30
B I O VA R I A N C E
The Right
Medication
for Every
Patient
“There are seven and a half
billion people. Each of
them reacts differently to
a drug. Our mission is the
improvement of patient
health and quality of life
through analysis and
interpretation of complex
biomedical data.”
JOSEF SCHEIBER
Headquartered in the German town of Waldsassen,
BioVariance addresses the issue of “blind” medication
prescription by analyzing biomedical data and
integrating it with available research-based evidence.
To accomplish this, the startup uses state-of-the-art
automatization and parallelization techniques, machine
learning, and mathematical algorithms.
In line with these efforts, the company offers a variety
of products and services for precision medicine in the
healthcare, pharma, and biotech sectors. Their current
product portfolio consists of three core products: (1)
BioCore Studio, a web-based data analytics platform,
(2) OncoVariant, a solution that provides individualized
treatment options for cancer patients based on their
genetic profile, and (3) Pillbox, an app for monitoring
patient medication adherence.
T
his is how Josef Scheiber defines the idea
that inspired him to create BioVariance,
a startup working to integrate genetic
testing and AI to provide personalized
medication treatments for cancer patients. As a
result of genetic differences between individuals,
medications that work for one patient can provide
little relief for another with the same condition,
leading to inefficient treatment and avoidable side
effects. At the same time, medical data has never
been more accessible, with genetic tests being
commercially available and a plethora of research
done on drug molecular mechanisms. The vision of
BioVariance is to extend human longevity by making
severe diseases, such as cancer, neurodegenerative,
infectious diseases, as treatable as any common cold.

31. 31
M AT C H 3
Making Complex Biomedical Data Accessible
for Personalized Treatment
The core of the company’s business is its
proprietary BioCore platform, which uses
artificial intelligence and data analysis to create
individual therapy recommendations for cancer
treatments. To perform a complete analysis of a
patient, BioVariance processes around 500 GB of
data per patient. Data from tissue biopsies and
bloodwork is uploaded on the platform, where,
with the help of data analytics, BioCore identifies
relevant genetic variants and/or gene expression.
Next, OncoVariant performs data mining to
analyze and evaluate recent clinical studies and
research results, before finally calculating which
medications and treatment options are most likely
to work for the specific patient. The OncoVariant
software can also provide reports detailing
predictions about the effectiveness, side effects,
and drug interactions of different treatments,
as well as recommendations about appropriate
dosage.
According to Scheiber, the BioVariance solution is
a win-win for all parties involved. Patients receive
better treatment based on their personalized
profile and avoid non-responsive therapies and
potential side effects. With better-targeted
treatments, both survival rates and patient
satisfaction increase. Additionally, the solution
enables clinicians to treat more patients at the
same time, reduces payouts for health insurance
companies by shortening hospital stay periods,
and helps pharmaceutical companies lower the
costs of drug discovery and development
through data.
A company representative shares that they
aim to use the obtained results to come up
with a testable hypothesis for various issues in
drug discovery and development, translational
medicine, and precision medicine. For now, the
company’s focus is on providing oncologists
with digital diagnostic services, particularly for
colorectal cancer. Their product OncCOVER,
a diagnostic test for individualized treatment
selection in colon cancer, is currently in
development, and the IVD approval is expected
later in 2020. Similar diagnostic services can
quickly be developed for a variety of other cancer
indications or neurological disorders.
To supplement the digital diagnostic tools, the
company also offers the mobile app Pillbox,
which serves as an adherence monitoring
app. Pillbox reminds patients to take the right
medication regularly and monitors whether the
medication is being taken correctly and if the
recommended therapy is working. It also allows
users to share medical history, symptoms, side
effects, health status, and other information with
their healthcare teams.
Molecular Diagnostics Strengthens BioVariance’s
Position in the AI in Medicine Market
Because of its commitment to bringing individualized
medicine directly to the patient, BioVariance has
attracted several angels and institutional investors
as their allies. A few years after its inception, the
company raised €200,000 through public grants and
angel investment. In 2019, they welcomed their first
investors, Fleming Enterprise Holding and Blaugold
Investment on board, raising a €2.5 million seed round
in exchange for a minority stake in the company.
Further milestones include adding Roche, the Swiss
multinational healthcare company, to the company’s
customer list, which also includes several oncology
clinics in Bavaria. Moreover, BioVariance has received
numerous awards, and for three consecutive years, has
been voted among the most innovative companies in
Germany by a panel of experts from Statista and the
Berlin Institute of Innovation and Technology.
With a successful track record, BioVariance is looking
for its place in the global market for AI in medicine.
According to Allied Market Research, the market will
grow from $719 million in 2017 to $18.1 billion by 2025,
registering a CAGR of 49.6% during the forecast period.
The report further states that the major factor driving
the market is the rise in the processing power of AI
systems, which is expected to improve the effectiveness
of drug discovery and clinical trial management. The
proliferation of interest in precision medicine, as well as
the increased funding of RD activities for the use of AI
in medicine, will help fuel market growth.
One of the main tasks the company has set for 2020 is
to reach agreements with public insurances in Germany
to incorporate BioVariance tests in existing health plans.
As for their geographical expansion, the company shares
that, at the moment, the focus remains on Germany.
However, in the future, BioVariance intends to expand
internationally and provide solutions beyond oncology.
The company envisions using the BioCore platform as
the basis for medical diagnostics applications, as well as
various non-medical lifestyle applications.
ACCORDING TO ALLIED
MARKET RESEARCH, THE
MARKET WILL GROW
FROM $719M IN 2017 TO
$18.1B
BY 2025

32. 32
Business logic: Summary:Business logic: Summary:Business logic:
• Infermedica was founded with the aim to provide
patients with accurate medical information and
guidance.
• The startup develops a set of AI-based solutions
for pre-diagnosis and triage that can be applied
by diverse healthcare-related businesses.
• To date, Infermedica’s tools have been used by
more than 5 million people worldwide.
• According to Allied Market Research, the global
market for AI in medicine is projected to grow at
an impressive CAGR of 49.6% between 2018 and
2025.
Product Concept
The startup uses advanced AI algorithms and
a sizable database of medical symptoms and
conditions to provide accurate pre-diagnosis and
help guide patients to the right care. To this end,
the company offers four different B2B products:
(1) Symptom Checker, (2) Call Center Triage, (3)
Emergency Room Triage, and (4) Infermedica API.
Business Model
Infermedica operates with a B2B model, helping
businesses within the healthcare ecosystem reduce
costs and improve patient care. The startup’s target
clients include insurance companies, hospital systems,
healthcare IT companies, medical startups, and
pharmaceutical companies. Infermedica’s target
regions are mainly in Europe, the Middle East,
Southeast Asia, USA, and South America.
Revenue Model
The company generates revenue through a SaaS
subscription model.
Customers
Infermedica
Infermedica has developed a proprietary AI-based system that
guides patients to the right care.

33. 33
Meet the team:Meet the team:
MATCH
4
Roberto Sicconi is an experienced entrepreneur and
researcher with a PhD in Electronics Engineering
from Politecnico di Milano. On top of his experience
as an engineer at IBM Research, Sicconi has also
been the co-founder of two startups: TeleLingo and
Dreyev.
ROBERTO SICCONI
Co-Founder CSO
L O C A T I O N : Wrozlaw, Poland
F O U N D E D : 01/06/2012
F U N D I N G : 4,700,000 USD
E M P L O Y E E S : 85
W E B S I T E : infermedica.com
Irving Loh is a medical doctor with a subspecialty
in cardiology. Besides his position as CMO of
Infermedica, he is Chair of the Innovation and
Technology Committee of the American College of
Cardiology, and in 2019, he received the Outstanding
Achievement Award. Loh obtained his MD at the
University of California, San Francisco, and is
currently an adjunct lecturer at Stanford University
School of Medicine.
IRVING LOH
Co-Founder CMO
IDEA PRODUCT/ PROTOTYPE GO TO MARKET GROWTH EXPANSION ESTABLISHED
Piotr Orzechowski is a software engineer passionate
about using technology to improve the quality and
accessibility of medical diagnoses. Before founding
Infermedica, he was co-founder of QCode and
CTO of Sky Storage. Orzechowski holds an MSc in
Software Engineering and Management from the
Wroclaw University of Science and Technology.
PIOTR ORZECHOWSKI
Co-Founder CEO
P E R S O N A L H E A LT H
M H E A LT H
H E A LT H D I A G N O S T I C S
H E A LT H C A R E

34. 34
I N F E R M E D I C A
Tasking AI
to Improve
Patient Care
H
ealthcare systems around the world are
chronically overburdened. According to
a report published by Deloitte in 2020,
because of the rise in chronic conditions
and a growing geriatric population, healthcare
providers are struggling to meet the demands of
patients. In addition, many patients nowadays turn
to the Internet for medical advice, which can often
be conflicting or downright wrong.
Two European entrepreneurs embarked on a mission
to change the situation. In 2012, Piotr Orzechowski
and Roberto Sicconi founded Infermedica, a startup
that uses advanced artificial intelligence to provide
accurate medical information for patients and help in
the process of pre-diagnosis.
“We want to provide reliable
medical knowledge to
everyone, regardless of their
circumstances, and to guide
patients to the right care,”
SHARES THE TEAM, NOW
SURPASSING 85 MEMBERS.
In addition to its patient-centric approach, the
Infermedica team works to create value for healthcare
businesses. Headquartered in Wroclaw, Poland,
the startup has created a set of tools for hospitals,
insurances, and other health systems that will reduce
misdiagnoses and the inappropriate use of medical
services. With that goal in mind, Infermedica offers
four different B2B products based on machine
learning: (1) Symptom Checker, (2) Call Center Triage,
(3) Emergency Room Triage, and (4) Infermedica API.

35. 35
M AT C H 4
“Our broader goal is to improve
customers’ performance, increase
healthcare accessibility, and reduce
costs. To date, our tools have been
used by over 5 million users worldwide,
and we are working with more than 50
companies, including Allianz Worldwide
Partners, Microsoft, Global Excel, Médis,
PZU Zdrowie, or Everyday Health,”
SHARES ORZECHOWSKI.
Digital Diagnostic Tools for Finding the Right Care
The first product, the Symptom Checker app, works by
having patients input their symptoms and assessing
the details of their case through a follow-up interview.
This means that, for example, if a patient reports
having a headache, the app will ask them whether the
pain is throbbing or stabbing, if it gets worse under
stress, and if there are any other important symptom
characteristics. The content is processed through
NLP to evaluate the reported information, analyzing
the presence and likelihood of illness. Based on this
analysis, the system recommends further actions,
which can include self-care or seeing a doctor. The
company estimates that up to 26% of patient cases
are self-treatable, so a symptom checker can prevent
unnecessary doctor visits. Infermedica also offers a
B2C version of the Symptom Checker in the form of
the Symptomate app, which is available for free.
In addition to the Symptom Checker solution,
Infermedica offers Call Center Triage, a navigation
tool that uses AI to help patients find the right care
when they contact a call center. Using the solution,
call operators can standardize the interview process
and receive accurate pre-diagnosis. Based on the
pre-diagnostic information, they can decide if the
patient needs to be seen immediately and by a doctor,
or if self-care and teleconsultations are the most
appropriate option. The Call Center Triage tool can
help health providers optimize patient flow and reduce
hospital visits while improving the quality of care. A
similar application is available to assist hospitals in the
process of ER triage. According to the Infermedica
team, the engine has a 93% accuracy.
Finally, the Infermedica API is the diagnostic
technology itself, which can be used in other
applications beyond the company’s products.
CEO PIOTR ORZECHOWSKI EXPLAINS THE
FOUNDATION BEHIND THIS PROCESS AS
FOLLOWS:
“We build our system based on two
types of sources - literature, i.e.
textbooks, publications on various
diseases and described anonymous
patient cases. We have doctors in the
team who search for all this literature
for us and help create a knowledge
base… The more data we collect, the
better our solution becomes.”
In the wake of the COVID-19 pandemic, Infermedica
has used its technology to build a screening tool
for potentially infected patients, underscoring
the potential of AI to aid healthcare systems in
addressing questions of access and quality of care
even in extreme circumstances.
A Global Player in the Fast-Growing Market
for AI in Medicine
With a product that promises to bring significant
cost and operational benefits for multiple players
in the healthcare field, Infermedica serves diverse
businesses, from insurance companies and hospital
systems to healthcare IT companies, medical
startups, and pharmaceutical companies.
Notably, Infermedica counts achievements on multiple
fronts. In 2020, the startup announced its partnership
with Microsoft, whose main purpose is to integrate
Infermedica’s triage engine with the Microsoft
Healthcare Bot. Recognition has come from investors
as well; in June 2019, the company completed its latest
round of seed funding. Led by Karma Ventures, this
round brought Infermedica $3.65 million in investment
capital. In 2018, Infermedica received a Seal of
Excellence from the EU Commission.
Infermedica’s success makes it a strong contender in
the global market for AI in medicine. According to a
report by Allied Market Research, in 2017 the market
was worth $719 million. Projections indicate that the
market will reach a size of $18.1 billion by 2025, growing
at an impressive CAGR of 49.6% during the forecast
period. Key drivers of the market include the dearth of
skilled healthcare professionals and the increase in the
processing power of AI solutions.
Within these promising market conditions, Infermedica
will continue to serve the healthcare ecosystem, now
more fragile than ever. For the foreseeable future, the
company’s team plans on expanding over new markets
and guiding more patients to the right care.
The products are now available in 17 languages and
include a database of 800 conditions and over 1,500
symptoms based on 30,000+ hours of physician review.
Infermedica’s technology has also received EU approval
as a Class I Medical Device and is GDPR compliant.

36. 36
Conclusion:
Key Takeaways and
What We Expect in
the Future
The 17 UN Sustainable Development Goals were
explicitly designed to engage the business sector
in addressing some of the greatest challenges
humanity is facing.
This publication was created to promote the idea
that organizations can become more sustainable
in a way that lowers costs, generates additional
revenues, and opens the doors to new markets.
Focusing on SDG 3: Good health and well-being,
it stresses the benefits that can emerge when
large organizations align their operations with
the goal’s ambitions by adopting innovative
technology.
Technological innovation is imperative to
achieving the SDGs: We’re moving too slowly
and struggling to keep pace with the growing
societal needs. In this regard, technological
breakthroughs and creativity hold the highest
potential for reducing the time and cost
necessary to achieve results.
Startups can help corporations become more
sustainable: Since startups are inherently
innovative, large organizations can benefit greatly
by collaborating with them. This is one of the most
promising ways of finding the right sustainability-
related technologies that work for corporations.
Аll companies will significantly benefit
from healthier employees, customers, and
infrastructure: But aside from improving
productivity across economies and lowering costs
for businesses, the increasing focus on preventative
health and well-being is expanding healthcare
sectors and opening the doors to new markets.
There are steps companies can take to make
aligning with SDG 3 easier: A robust health
strategy takes into account the company’s
entire footprint. Once they learn their footprint,
organizations are advised to define priorities,
outline specific KPIs, announce their plans, and
achieve business growth through innovation
and collaboration with other companies.
Companies can expect numerous benefits from
engaging with SDG 3: From improved brand
image and increased employee productivity
to open doors to new markets. Furthermore,
companies will be able to meet changing
regulations in a timely manner and avoid
penalties under their state’s legislature.
The global corporate wellness market will
advance at a CAGR of 6.9% between 2020 and
2027: The global corporate wellness market is
expected to reach $97.4 billion by 2027. The
report suggests that the stress management
segment will register the fastest growth rate, as
employers intensify the adoption of onsite stress
relief solutions for their employees.
The global digital health market is expected
to grow by $207.34 billion from 2020 to 2024:
According to Technavio, North America accounts
for around 45% of the market growth, while in
terms of technology, the growing adoption of
mHealth is a relevant factor that will contribute to
market growth.
Novel technologies like AI are paving the roads
to faster drug discovery at reduced costs:
For instance, AI and machine learning can be
used to predict the effects of certain drugs on
specific diseases and conditions. According
to Markets and Markets, the global AI in drug
discovery market is projected to grow at a CAGR
of 40.8% from 2019 to 2024.
Organizations are addressing the goal from
different angles that make the most sense to
their ambitions and stakes: The report includes
the stories of Nike, Pfizer, and Deutsche Telekom
as some of the large organizations that are
successfully aligning their operations with SDG 3.
These are some of the report’s key takeaways:

37. 37
The Company
of the Future is
Sustainable
As the Harvard Business Review once put it:
There’s no alternative to sustainable development.
The increasingly evident climate change and its
resulting stricter regulations, coupled with the
modern needs of the informed customer, mean
that business-as-usual won’t cut it anymore.
Fortunately, this new reality doesn’t only bring
threats, but also numerous new business
opportunities to those that embrace it on time.
IN SUPPORT OF OUR CONCLUSION,
A STUDY CONDUCTED BY HBR POINTS
OUT THAT:
“ Sustainability is a mother
lode of organizational and
technological innovations that
yield both bottom-line and
top-line returns. [...] In fact,
because those are the goals
of corporate innovation, we
find that smart companies
now treat sustainability as
innovation’s new frontier.”
Valuer Helps
Corporations
Blend Purpose
With Profit
There’s no one-size-fits-all approach. This is why
it’s essential that each organization approaches
the challenge from a perspective that makes the
most sense to its individual strategies.
By finding startups with innovative solutions
that complement a corporation’s unique needs,
the Valuer AI platform helps organizations
adopt the most compatible sustainability-
related technologies.
The platform’s data-driven approach empowers
companies to identify previously unseen
opportunities within their sector, enabling a
move from cost-cutting to opportunity-driven
profit generation.
Learn more about how the Valuer AI platform
works on page 5.

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