Medical Big Data Application Product Incubation Fund Launches to Alleviate Funding Challenges for Health-Tech Startups

Recently, a significant development emerged in the medical big data industry: a specialized industrial fund named the “Medical Big Data Application Product Incubation Fund” was established in Hangzhou. The fund focuses on addressing two major pain points for small and medium-sized enterprises (SMEs) in the sector, particularly startups—namely, financing and market access. According to VCBeat (WeChat ID: vcbeat), this is the first incubation fund in China primarily dedicated to medical big data.

The medical big data sector has been the most closely watched area over the past two years, with key areas of concentrated industry growth including medical imaging combined with artificial intelligence, structured data paired with machine learning, and third-party medical imaging centers.

However, the medical big data industry is characterized by its nascent stage and high technological barriers to entry. Consequently, most companies and entrepreneurs in this sector are technically oriented, with organizational structures heavily skewed toward technical domains. A lack of market experience and capital constitutes the most pronounced pain point across the entire industry.

Reports indicate that the “Medical Big Data Application Product Incubation Fund,” established in Hangzhou, Zhejiang, was jointly initiated by Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) and Shenzhen Qianhai Yiban Jinfu Group. The fund has an initial target size of RMB 200 million and provides supply chain financial services to industry enterprises and entrepreneurs. Its primary focus is on delivering comprehensive financial solutions—including investment, factoring, guarantees, and credit loans—to hospitals, medical manufacturers, and medical distributors. More importantly, the fund’s materials clearly state that it can provide industry enterprises, particularly startups, with urgent access to market channels, thereby addressing their most critical pain point: possessing technology and products but lacking the capacity to expand into the market.

VCBeat’s research reveals that Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) is an emerging medical big data company centered on artificial intelligence technology, which has rapidly risen to prominence in the industry over the past two years. Within just over a year of its establishment, the company has expanded its operations to more than 400 Grade-A tertiary hospitals across over 20 provinces in China. Meanwhile, Shenzhen Qianhai Yiban Jinfu Group currently achieves an annual business volume exceeding RMB 3 billion in investments, credit services, and other activities within the healthcare sector.

It is reported that Zheng Jun, Chairman of Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL), has been deeply engaged in the medical industry for over 20 years, with business interests spanning the entire industry chain, including pharmaceutical manufacturing, technology research and development, and marketing and sales enterprises.

At the company’s headquarters in the National High-Tech Industrial Development Zone in Binjiang District, Hangzhou, Zheng Jun granted an interview to VCBeat.

Zheng Jun explained that the fund was initiated because, as an entrepreneur who has been deeply involved in the medical industry for over 20 years, he is well aware of the pain points faced by startups, such as lack of funding and limited access to channels. Therefore, helping entrepreneurs address these issues not only yields investment returns but, more importantly, allows him to contribute to the development of the industry. Providing professional services to the sector has long been his aspiration.

Zheng Jun also noted that medical big data has been the hottest topic in the industry over the past two years. In fact, Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) began strategizing in this sector six years ago, focusing on artificial intelligence (AI) and leveraging the integration of medical imaging, AI, and internet technologies as its entry point. After several years of entrepreneurship, the company has achieved significant breakthroughs with its flagship medical big data product, the 3D Reconstruction Surgical Planning System, and is poised to launch its AI-based products to the market. Amidst these achievements, Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) recognizes the abundant opportunities within the medical big data field.

Zheng Jun stated that the surge in medical big data has attracted numerous entrepreneurs to this industry. However, the high technical barriers inherent to the sector mean that most of these entrepreneurs are technical elites who generally lack capabilities in fundraising and market channel development. As medical big data represents a global frontier in technology, China must increase its investment in this area to avoid falling behind in the field of medical technology. As an industry pioneer, Zheng leverages over 20 years of accumulated market channels. Furthermore, as a former surgeon, contributing to the advancement of healthcare serves as both the driving force behind his enterprise and his personal motivation.

Ji Lei, Chairman of Shenzhen Qianhai Yiban Jinfu Group, stated in an interview that prior to founding Yiban Jinfu, he served at China Construction Bank, China Minsheng Bank, Ping An Group, and Wanda Group; therefore, providing professional financial services to the industry constitutes his core competency.

Ji Lei introduced that, according to market research, the medical and device market alone reached RMB 2 trillion in 2016, indicating enormous growth opportunities for the healthcare industry. Therefore, since its inception, Yi Ban Jin Fu has positioned itself as a fintech service platform dedicated to the healthcare sector, specifically focusing on the entire vertical healthcare industry. The company owns multiple subsidiaries specializing in factoring, private equity investment, guarantees, credit reporting, and financial services, primarily providing comprehensive financial solutions to hospitals, medical manufacturers, distributors, and healthcare consumers.

Regarding why the newly launched fund is positioned around “healthcare big data,” Ji Lei explained that securing sufficient working capital has long been one of the most critical pain points for companies in the healthcare industry. However, healthcare firms—particularly those in distribution—have almost no collateralizable assets, making bank financing channels difficult to access. This is especially true for big data enterprises, where it is common to possess technology but lack both funding and distribution channels. Yiban Jinfu Group is well-positioned to provide specialized financial services to these companies.

Meanwhile, in collaboration with Yi Ban Jin Fu Group, it was discovered that Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) has not only established R&D bases both domestically and internationally but also possesses robust technological R&D capabilities. Within just one year, its core medical big data business—3D reconstruction—has achieved an industry-leading position, fully demonstrating the technical prowess and market expansion capabilities of Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL). By partnering with enterprises that possess such core technical competencies and market development capabilities, financial service providers can truly deliver high-quality services to companies within the healthcare industry.

Ji Lei introduced that the fund launched this time focuses on incubating medical big data application products, with its core being to provide financing and market channels for startup companies. The main products include investment, credit, and more.

It is further understood that the strategic signing ceremony for the establishment of the “Medical Big Data Application Product Incubation Fund,” a joint venture between Hangzhou INCOOL Medical Technology Co., Ltd. (INCOOL) and Shenzhen Qianhai Yiban Jinfu Group, was held at INCOOL’s headquarters in Hangzhou. Representatives from China Merchants Bank, Huaxia Bank, Bank of Nanjing, and Langui Asset Management Company, among other enterprises, attended the ceremony and conducted business negotiations with select industry participants on site.