Indian startups in the agritech, cleantech, healthtech and green technology sectors striving for social and environmental well-being have the opportunity to receive funding and research support from Honeywell.
Honeywell Hometown Solutions India Foundation (HHSIF)philanthropic arm of honeywell joined forces with Foundation for Science and Innovation Development (FSID) And that Indian Institute of Science (IISc). The partnership aims to provide critical research and financial support to Indian startups, especially those engaged in deep scientific research. Over the past four years, this initiative has increased his capital value to Rs 20 million. 9 billion Donated to 37 startup companies in India.
Honeywell has directed its support to agritech, cleantech, healthtech and green technology startups, with a focus on areas essential to social and environmental well-being.Within the fiscal year 2023-24Rs. 2.4 billion Eight startups were allocated and support was also provided for five resident entrepreneurship programs. Looking ahead, the initiative plans to include 10 more startups this year.
Encouraging deep scientific and technological research
The Honeywell-IISc collaboration aims not only to provide financial support but also to foster deep scientific and technological research. The partnership aims to foster innovation that has a tangible impact on society by supporting start-ups that address environmental, agricultural and health challenges.
One of the key benefits of this collaboration is that it provides access to state-of-the-art facilities and a network of industry players, government agencies, investors and companies. This synergy between Honeywell and his IISc has facilitated the growth of startups by connecting them with the resources essential to their development and success.
Startups benefit from collaboration
Several startups are already benefiting from the Honeywell-IISc collaboration. These include health/medical technology companies such as: Papyrus Diagnostics Private Limited, Akumen artificial intelligenceand Cellsion Technologies Pvt Ltd.In addition, agritech companies such as Kaiza Tech and green color agritech Supported alongside clean technology startups Mashloop Private Limited.
Honeywell India President Ashish Modi emphasized the importance of encouraging deep science and technology research among start-ups. He highlighted the company’s commitment to fostering innovative capabilities, noting that in the past four years he has partnered with more than 40 startups. Examples of successes resulting from this partnership include: AI highwayprovides a cost-effective heart disease screening system that leverages advanced signal processing and AI capabilities.
“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. We are working with IISc to foster a fertile ecosystem for these companies. , which has a tangible impact on society,” he said.
Another notable startup is Dfine Bio Innovations Pvt Ltdhas been developed. Fibritimer Zeta-1, a uniquely constructed hemostasis system that helps clinicians understand the phenomena of bleeding and thrombosis. This innovation represents a significant milestone in Indian medical technology.
FSID Director and IISc Professor B Gurumoorthy highlighted the unique challenges faced by deep science startups. He emphasized the importance of significant up-front capital and access to world-class laboratories and tools to successfully bring innovation from the lab to the market.
“Deep science startups are characterized by long conception periods, requiring significant upfront investment and access to world-class laboratories and sophisticated tools to take innovations from the lab to market,” he said. said.
The Honeywell and IISc collaboration will support Indian startups engaged in deep scientific research by providing both financial support and essential resources. This initiative not only fosters innovation, but also contributes to addressing critical social and environmental challenges. As this partnership continues to grow, it promises to drive further advancements in the agri-tech, clean-tech, health-tech and green-tech sectors, ultimately shaping a bright future for Indian entrepreneurship.
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