Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell, has partnered with the Foundation for Science and Innovation Development (FSID) and the Indian Institute of Science (IISc), renowned for its cutting-edge deep scientific research, to expand research and We have provided financial support to 37 Indian startups, increasing capital worth Rs 9,000 crore in the last four years. Honeywell has expanded funding worth Rs 2,400 crore into eight startups and five Entrepreneurship Residency Programs (EIRs) in FY23-24 with a focus on agri-tech, clean-tech, health-tech and green-tech. In addition, we plan to hire 10 new startups this year.
Through this partnership, Honeywell will provide seed funding and critical research support to deep science startups focused on addressing environmental, agricultural and health challenges. The synergy between Honeywell and her IISc has been highly sought after among emerging startups for many years. This partnership not only provides seed funding, but also expanded access to state-of-the-art facilities and connections with industry players and government. A global network of high net worth individuals (HNIs), angels, venture capitalists (VCs) and micro, small and medium enterprises (MSMEs) in India.
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.
“Honeywell has been at the forefront of automation, digitization and sustainability for decades. Our long-standing partnership with IISc will strengthen India’s local innovation and empower startups. Our main focus is to not only extend financial support but also encourage deep scientific/technical research that fosters the innovative capabilities of these businesses. Over the year, we have worked with more than 40 startups and in collaboration with IISc we plan to hire 10 more companies in the next financial year. and creating a measurable impact on society,” said Ashish Modi, President, Honeywell India.
Professor B. Gurumoorthy, Director of FSID and Professor at IISc, said: “Deep science startups are characterized by long conception periods, requiring significant upfront capital and world-class laboratories and facilities to bring innovations from the lab to market. They need access to sophisticated tools. Honeywell has been a great partner for us on this journey, providing much-needed financial and intellectual support to help entrepreneurs along the way. Jamsetsi Tata said, “What moves a nation and a community forward is lifting up its best and most talented people and enabling them to make their fullest contribution to the country.” Honeywell’s CSR support will help raise the ceiling of his science startups deep.
This year’s startups will range from 8 to 10 and will be supported by approximately 3 to 5 resident entrepreneur programs. Examples of startups supported by Honeywell and his IISc include “Cost-effective heart disease screening system powered by advanced signal processing and AI capabilities capable of screening, detecting and predicting cardiopulmonary disease.” AI Highway”. This innovation has the potential to reduce the burden on cardiologists and address India’s severe shortage of specialists, estimated at more than 84,000. Additionally, with support for wastewater treatment start-up OpenWater.in, the grant will help him build a 25,000 liter per day system in Mavaripura, a village about 20 kilometers north of Bangalore city. designed and implemented. The quality of groundwater here is very poor due to the presence of solid waste in the landfill near the village, causing contamination of the water source. Open Water has introduced a solution to treat groundwater contamination.
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. Zeta 1 is designed for professional use in clinical laboratories. This product is ISO certified and approved by CDSCO and is a life saving device. The price of this product is significantly lower than the products available on the market.
