Germany the place to be for innovative healthcare
Germany is proving to be an attractive location for groundbreaking innovation in a number of areas, including healthcare. In its latest issue called "Outsourcing 4.0," Markets Germany magazine presents a company called Innoplexus as an example of the opportunities Germany holds for developers of disruptive technologies.
Innoplexus uses artificial intelligence (AI) and blockchain technology to locate, analyze, and collate vast amounts of data. This information is revolutionizing life sciences industries by accelerating product development. Innoplexus is expected to bring in around EUR eight million this year by providing structured and ordered data to pharmaceutical developers, medical researchers, doctors, and other medical industries alone. Launched within the past decade, the Eschborn-based company has become a global leader in providing data for drug development. The company already owns 65 patents, including fifty for AI alone.
The founder and CEO of Innoplexus, Gunjan Bhardwaj, chose Germany as the place to set up his company after coming from India to study on a German Academic Exchange Service (DAAD) grant. He then worked for several German consulting firms before founding Innoplexus, which has subsidiaries in Pune, India, and the US.
During an interview with the digital magazine, Clutch, Bhardwaj explained that "Germany is an ideal base for dealing with customers all over Europe and in the US as well." He also said Europe is the place where Innoplexus works closely with its customers on the realization of AI projects.
Among the reasons Germany is attractive for healthcare innovators are government programs prioritizing R&D, including those dedicated specifically to helping small and medium-sized enterprises (SME) and start-ups. The country is also a leader in developing pharmaceuticals, medical technology, and medical biotechnology, therefore, it is where customers for companies like Innoplexus are located. What is more, it has a well-educated and highly-trained workforce and a tradition of basic research working closely together with industry on innovation.
Markets Germany is published by Germany Trade & Invest (GTAI), the economic development agency of the Federal Republic of Germany. Printed in English, Markets keeps readers up to date with all investor news and updates within Germany.