- Honeywell India partners with IISc to fund deep science startups, providing research and financial support to 37 Indian startups with a total capital of ₹9 crores over four years.
- The focus is on agri-tech, clean-tech, health-tech, and green-tech sectors, with ₹2.4 crores funding in FY23-24 to eight startups and five entrepreneurship-in-residence programs.
- Collaboration aims to address environmental, agricultural, and health challenges by offering seed funding and research support to startups in deep science.
- The partnership facilitates access to advanced facilities, industry stakeholders, and global networks for startups, connecting them with various funding sources.
- Notable startups supported include AI Highway for cardiac disease screening systems and Dfine Bio Innovations for a hemostatis system, showcasing the impact of the collaboration on innovative solutions.
Boosting Innovation in India: Honeywell’s Support for Deep Science Startups
Honeywell India, in a strategic partnership with the Indian Institute of Science (IISc), is making significant strides in boosting innovation by funding deep science startups. This collaboration aims to provide essential research support and seed funding to startups focusing on addressing environmental, agricultural, and health challenges. Over the last four years, Honeywell has extended support to 37 Indian startups, with a total capital infusion of ₹9 crores. Let’s delve deeper into this remarkable initiative and explore the impact it’s creating in the Indian startup ecosystem.
Empowering Deep Science Startups with Financial and Research Support
The partnership between Honeywell and IISc is not just about providing financial assistance; it is about nurturing deep science and technology research that drives innovation. Honeywell’s commitment goes beyond mere funding, as they aim to encourage cutting-edge research that fuels the innovative prowess of these startups. By offering seed funding and research support, Honeywell is laying the foundation for startups to develop groundbreaking solutions in agri-tech, clean-tech, health-tech, and green-tech sectors.
In the fiscal year 2023-24, Honeywell allocated ₹2.4 crores to support eight startups and five entrepreneurship-in-residence programs. The focus sectors of agri-tech, clean-tech, and health-tech received significant attention, with plans to onboard ten new startups in the current fiscal year. This proactive approach demonstrates Honeywell’s dedication to fostering a conducive ecosystem for deep science startups to thrive and make a tangible impact on society.
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Facilitating Collaboration and Access to Resources
One of the key benefits of the collaboration between Honeywell and IISc is the access to state-of-the-art facilities and a network of industry stakeholders. Startups supported through this initiative gain the opportunity to connect with government bodies, High Net Worth Individuals (HNIs), Angels, Venture Capitalists (VCs), and Micro, Small & Medium Enterprises (MSMEs) in India. This network not only provides financial support but also opens doors to valuable mentorship, expertise, and market opportunities.
In the fiscal year 2023-24, the collaborative efforts of Honeywell and IISc extended support to several notable startups in the health/med-tech and agri-tech sectors. Companies like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, Hoyasan Labs Pvt Ltd, and Green Collar Agritech benefited from this partnership, leveraging the resources and expertise offered by Honeywell and IISc. This collaborative approach underscores the commitment to fostering innovation and driving impactful solutions in critical sectors.
Success Stories: Transforming Ideas into Impactful Solutions
Among the success stories emerging from Honeywell and IISc’s support is ‘AI Highway,’ a startup offering cost-effective cardiac disease screening systems. Leveraging advanced signal processing and AI capabilities, ‘AI Highway’ has developed innovative solutions for screening, detecting, and predicting cardio-respiratory disorders. This is just one example of how deep science startups, with the backing of Honeywell and IISc, are transforming ideas into impactful solutions that address pressing societal challenges.
Another noteworthy startup supported by Honeywell is Dfine Bio Innovations Pvt Ltd, a Medtech company that has developed an indigenously built hemostasis system named FibriTimer Zeta-1. This groundbreaking technology, powered by dual technology, helps clinicians understand defects in humans related to bleeding and thrombosis events. By supporting such innovative ventures, Honeywell is not only driving entrepreneurship but also contributing to advancements in healthcare technology in India.
The partnership between Honeywell India and IISc represents a significant step towards fostering innovation and supporting deep science startups in India. By providing financial assistance, research support, and valuable industry connections, Honeywell is empowering startups to develop cutting-edge solutions that address critical challenges in sectors like agri-tech, clean-tech, and health-tech. The success stories emerging from this collaboration underscore the transformative impact of investing in deep science startups and nurturing a culture of innovation in the Indian startup ecosystem.
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