Headstart Network Foundation and Krishna Institute of Medical Sciences, Deemed to be University (KIMSDU) Karad, Maharashtra, launched the Innovation in Medical, Pharmaceutical and Allied Sciences for Commercialization of Technology (IMPACT) Award to assist inventors for financial support for the filing of domestic IP, technology commercialization, and extending support of Research Lab, Medicinal facilities and all resources available at KIMSDU to promote innovation and technology development to support Healthcare ecosystem. Some of the partners which joined hand for this launch event include iTTO, FITT, IIT Delhi, AIC MUJ, Pune University, AIC LMCP, IIT Madras, IIT Hyderabad.
Post-COVID many of the inventors and startup came with technologies and ideas to support the Indian Healthcare ecosystem; however, many of the time, lack of availability of resources to do clinical trials, testing at labs, and development of these ideas into the prototype, commercialization of developed technologies and as well lack financial support for the processing of IPs to the inventions were some of major challenge. The Innovation Center of KIMSDU understands this major challenge and has launched a unique flagship initiative to bridge the gap, IMPACT Award to support such inventors by assisting and supporting these technologies.
Launch was scheduled for 06th of July, where 7 speakers from Corporate, Government, Ecosystem Enablers interacted with some of the promising health tech startups in the ecosystem and got insight on how they should best leverage support from institutions and incubator in their startup journey. Launch event was followed by a program IP Conclave - Boosting Technological Innovation for COVID-19 on 07th July where a panel of 4 experts of healthcare, IP, tech commercialization, investors, and ecosystem enablers shared their views on the importance of IPs, Technology Development for Healthcare and How Tech advancement has supported healthcare ecosystem during this pandemic time. Also, IIT Madras Bio Incubator and IIIT Hyderabad Ojas Accelerator Head shared on how startups can avail the services and Join them to accelerate the startup journey.
As part of COVISOLVE, 21 shortlisted startups also joined the program.
Goal of IMPACT Award: Innovation in Medical, Pharmaceutical, and Allied Sciences for Commercialization of Technology (IMPACT Award), an initiative to promote innovation and entrepreneurial mindset in the Healthcare domain, in line with the vision of Hon’ble Shri Jaywantrao Bhosale to impact the ecosystem by supporting technological innovations.
The responses received for the launch, which were done as part of the outreach effort for the IMPACT Award, have been extremely diverse, from pan India. The organizing team received responses from all over the country with most of them coming from Maharashtra (72%), Karnataka (5%), Jammu (6%), Delhi (10.5%), Uttar Pradesh (11.6%) and Uttarakhand (5%) closely following. Interestingly, out of the 170+ participants who attended the launch program, and registered through the online form, come from an entrepreneurship background, with 48.6% of the responders describing themselves as aspiring entrepreneurs and 17% describing themselves as existing entrepreneurs.
Also, the experts were invited from different ecosystems. The program was designed to attract and inspire entrepreneurs and startups to avail support from KIMSDU by availing the offerings of the IMPACT Award. Over 50% (92) of the applicants have shown their interest in applying for the IMPACT Award. Where 30%+ of the applicants were interested and responded with may be as option.
Speakers involved for the launch program involved Dr. Biju Jacob, Country Head, UN Health Innovation Exchange – HIEx; Prof. Narayanan, Principal Scientist, IIT Madras Bio Incubator; Mohammad Ammel, Health, Primary Healthcare Technology & Innovation (PATH); Ms. Pooja, Chief Manager, i-TTO FITT, IIT Delhi; Venkatesh, Innovation Manager, Baxter International Inc.; Dr. Srinivas Savale, CEO, AIC - LMCP; Mr. Divya Pritwani, CEO, AIC MUJ
For the IP Conclave - Boosting Technological Innovation for COVID-19 Pandemic, speakers includes Dr. Arvind Shaligram, CEO, SPPU Research Park Foundation, Pune University; Dr. Sonali, Head- OJAS MedTech BioNEST & Resident Mentor, CIE IIIT Hyderabad; Reema, Project Manager, i-TTO