Through its collaboration with the Indian Institute of Science’s Foundation for Science, Innovation and Development, Honeywell India has extended research and financial support worth Rs 9,000 crore to 37 Indian startups over the past four years.
Honeywell expands funding worth Rs 2,400 crore in FY23-24 to 8 startups and 5 resident entrepreneur programs, with 10 new startups, with focus on agri-tech, clean-tech, health-tech and green-tech is planning to hire. The company said in a press release that the number of startups this period is high.
Through our collaboration with IISc, Honeywell provides seed funding and research support to deep technology startups focused on addressing environmental, agricultural, and health challenges.
This partnership has enabled us to expand our access to Indian facilities, connect with industry players and government agencies, and network with angel investors, venture capitalists, and MSMEs.
“Our core 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 past four years, we have We have worked with over 40 startups and plan to hire 10 more in the next financial year,” said Ashish Modi, Managing Director, Honeywell India.
According to Honeywell, in FY23-24, the partnership benefit was extended to health and medical technology companies such as Papyrus Diagnostics, Hoyasan Labs, Akumen Artificial Intelligence and Cellsion Technologies, and agritech companies such as Kaiza Tech and Green Collar Agritech.
AI Highway, a startup backed by Honeywell and IISc, offers a cost-effective heart disease screening system that leverages advanced signal processing and AI capabilities to screen, detect, and predict cardiorespiratory disorders. I am.
The grant to wastewater treatment startup OpenWater.in was used to design and install a 25,000 liter per day system in Mavaripura, a village about 20 km from Bangalore. Open Water has introduced a solution to treat groundwater contamination.
Additionally, Dfine Bio Innovations is a medical technology startup backed by Honeywell. The company has developed a proprietary hemostasis system. It uses patented dual technology to help clinicians understand human deficiencies regarding bleeding and thrombosis.
“Deep science startups are characterized by long conception periods and require significant upfront capital and access to world-class laboratories and sophisticated tools to take innovations from the lab to market,” FSID said B. Gurumoorthy, director and IISc professor.
“Honeywell has been an excellent partner for us on this journey, providing much-needed financial and intellectual support to help our entrepreneurs navigate their journey,” Gurumoorthy added. .
