Honeywell India to fund deep science startups and accelerate innovation through partnership with IISc

Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), has partnered with the Foundation for Science and Innovation Development (FSID) and the Indian Institute of Science (IISc), known for cutting-edge research and development. The Department of Scientific Research has extended research and financial support to 37 Indian startups, increasing capital worth Rs 9,000 crore in the last four years. Honeywell has extended funding worth Rs 2,400 crore to eight startups and five Entrepreneur-in-Residence Program (EIR) in FY23-24, with focus on agri-tech, clean-tech, health-tech and green-tech. In addition, we plan to hire 10 new startups this year.

Through the partnership, Honeywell will provide seed funding and critical research support to deep science startups focused on addressing environmental, agricultural and health challenges, according to the release.

Over the years, the synergies between Honeywell and IISc have been highly sought after, contributing to expanded access to state-of-the-art facilities, connections with industry players and government agencies, and a global network of high net worth individuals (HNIs). . , Angels, Venture Capitalists (VCs), Indian Small and Medium Enterprises (MSMEs).

In FY23-24, Honeywell and IISc collaboration benefits were extended to health/medical technology companies such as Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, Hoyasan Labs Pvt Ltd, Cellsion Technologies Pvt Ltd, Easescan MedTech Private Limited . and agritech companies like Kaiza Tech and Green Collar Agritech. So is cleantech startup Mushloop Pvt Ltd.

Ashish Modi, President, Honeywell India, said, “Our core focus is to not only extend financial support but also encourage deep scientific/technical research that will foster the innovative capabilities of these businesses.” ” In the last four years, we have worked with more than 40 startups and plan to hire 10 more in the next financial year. We are working with IISc to foster a fertile ecosystem for these companies to make a tangible impact on society. ”

Examples of startups backed by Honeywell and IISc include AI Highway, which provides a cost-effective heart disease screening system that leverages advanced signal processing and AI capabilities to screen, detect, and predict cardiopulmonary disease; “there is.

Dfine Bio Innovations Pvt ltd is a medical technology startup supported by a grant from Honeywell. The startup has developed an indigenously built hemostasis system named FibriTimer Zeta-1 (a first for an Indian company). Zeta-1 uses patented dual technology to help clinicians understand human deficits in bleeding and thrombosis.