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Pfizer INDovation Program Boosts Six Healthcare Start-ups with a Rs 25 Lakh grant each and Holistic Incubation Support

By - MD Bureau
Published On 2024-11-12 12:25 GMT   |   Update On 2024-11-12 12:25 GMT
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The NIPER-A edition of Pfizer’s flagship INDovation program announced its 6 winners on 11th Novemeber 2024 in New Delhi. Pfizer limited, in collaboration with NIPER-Ahmedabad, the Department of Pharmaceuticals, NITI Aayog and Social Alpha launched the INDovation program on February 2024, which is one of the largest such programs, both by grant value and partnerships. The program focused on incubating and commercializing healthcare start-ups in the country. The project received applications from around 200 start-ups across the country.
According to census report of 2011, 70% of Indian population lives in rural areas where even the basic medical facilities are lacking. Hence the aim of this project was to help medtech start-ups across the country to focus on timely screening of diseases and coming up with cost effective diagnostic tools.
The shortlisting criteria to decide the final six included the potential impact of the product/solution, level of technological innovation, uniqueness of the value proposition, competitive advantage, financial and operational scalability, and clarity on the future roadmap.
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The winning start-ups will receive a grant of INR 25 lakhs each from Pfizer, while NIPER-Ahmedabad will provide comprehensive incubation support that will help accelerate their lab-to-market journey. The winners include Aarca Research, Babycue Pvt Ltd, Biolockey Healthworks Pvt Ltd, Brela Innovations Pvt Ltd, RNT Health Insights Pvt Ltd and Utopic Tech Pvt Ltd.
Dr. Arunish Chawla, Secretary, the Department of Pharmaceuticals said, "Encouraging indigenous innovation in healthcare is not merely a priority, but a responsibility shared by all who are a part of this ecosystem. Our support to this collaboration between Pfizer and NIPER-A highlights the potential of start-ups bringing innovations that can advance the delivery of healthcare in the country."
He also approved the PRIP (Promotion of Research and Innovation in Pharma-MedTech) scheme or Research Linked Incentive Scheme for the 6 startups for support for pre-clinical and clinical studies. The 6 start-ups are also the first winners to secure funding under the PRIP scheme.
Commenting on the program, Meenakshi Nevatia, Managing Director, Pfizer Ltd, said, “At Pfizer, we are deeply committed to fostering innovations and breakthroughs that improve patients’ lives. With grants from Pfizer and incubation support from our program partners, I am confident that these start-ups will get the full support to rapidly bring their groundbreaking ideas to the market and deliver the promise of making a significant difference in healthcare delivery in our country.”
Dr. Shailendra Saraf, Director NIPER-Ahmedabad, said, “NIPER Ahmedabad has always been a launch platform for healthcare innovation. Through our collaboration with Pfizer, we will offer program acceleration support to help these start-ups scale their solutions effectively thus enabling to develop a strong healthcare ecosystem in India.”
"These six start-ups chosen through the Pfizer INDovation program exemplify the ingenuity and resilience needed to bridge critical healthcare gaps in diagnostics and treatment,” said Manoj Kumar, Founder, Social Alpha. “By providing comprehensive support, from grants to mentorship to market acceleration, we aim to amplify their potential to create diagnostic solutions that are both accessible and impactful, particularly for communities in need."
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