Economic relations between Chile and the United States have a long history, beginning with the trade of traditional products and continuing with innovation and added value in specific niches. In recent years, Chilean innovation and automation in healthcare solutions has become one of the main areas of focus for ProChile's support in the United States: 13% of startups in Chile are related to health, being the United States. The United States is the main destination for Chilean exports of medical products, which represent more than 25% of total Chilean exports in the sector. The United States is also the number one investor in Chile, with $ 22 billion invested in projects in the last 7 years, according to InvestChile.
Thanks to the presence of our commercial offices in three of the most important health centers in the United States (Houston, Philadelphia, and Chicago), it came naturally to organize a week with specialized seminars and individual meetings to publicize the industry and create opportunities for a possible bilateral collaboration between the two markets.
HealthTech Beyond Borders seeks to show Chile's offer in different health areas such as Innovation Centers, Research Centers, Universities, Hospitals, Medical devices, Solutions, and software for the pharmaceutical industry (excluding the manufacture of medicines), Products and services for the healthcare industry, Opportunities for Venture Capital and Alternative Uses of Copper.
It is a program that is designed to facilitate matching opportunities between medical and health organizations in Chile and the United States. The four-day business event provides opportunities for organizations to learn from each other, as well as setting the stage for global collaborations.
"We are proud to produce this event and to bring together so many innovative and leading healthcare organizations and associations”, says Sylas Bailey-Kelly, Trade Commissioner of Chile for the US Midwest. "Health and medical innovation is an area in which Chile and the United States can excel and continue to collaborate to benefit citizens in both countries and around the world”.
One factor that makes Chile such an attractive opportunity for innovation in health is the value placed on health. It is estimated that 93.7% of the population of Chile is covered by health insurance. Furthermore, Chile has one of the highest proportions of health spending relative to its gross domestic product (GDP) in Latin America. Chile currently spends about 9.14% of its GDP on health compared to the United States, where 13% of its GDP is spent on health.
"We feel that this instance is key to creating opportunities to show the important steps that Chile has taken in terms of innovation in science and medicine as well as opening the doors to collaboration opportunities in highly important markets in the United States", says Alexander Grabois, Trade Representative of PorChile in Philadelphia.
And he adds that “the presence of strategic partners by the public and private sectors in our markets shows a commitment to continue strengthening economic relations between Chile and the United States; in addition to continuing to diversify the portfolio of goods and services traded between the two markets. A key aspect of this activity is to be able to present a series of tools necessary to facilitate its internationalization and entry into these markets”.
Chile is already proud to showcase success stories in the area, such as Genosur's Safe Sample (the first rapid COVID-19 test in the world that does not require cold storage, for which they were awarded by the Miami Dade Council for their impact at the local level), Levita Magnetics and its First Magnetic Surgical Platform in the world, Lazarillo's smart application that offers autonomy to the blind and visually impaired, Copptech's patented antimicrobial technology based on copper and zinc or 3D Copper, the Antimicrobial 3D printing based, again, on copper.
At a scientific level, Chile and the United States have established B2B alliances between clinics and hospitals, highlighting the collaboration of Clínica Alemana with the Cleveland Clinic Foundation, the Children's Hospital of Philadelphia, MD Anderson Cancer Center, Hospital for Special Surgery, Chest Disease Center-Beth Israel Deaconess Medical Center and Nicklaus Children's Hospital.
HealthTech Beyond Borders will take place from August 10 to 13 as a completely virtual event supported by the Chilean and American Chamber of Commerce of Greater Philadelphia, City of Houston, City of Philadelphia, Greater Houston Partnerships, Houston Methodist, MATTER Health, MEDIATECH Ventures, The Cannon, World Business Chicago, Widener University Small Business Development Council, Temple University Fox School of Business.
To register or contact the organizers for commercial inquiries, enter by clicking here.