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In a significant step towards strengthening India's healthcare innovation ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has signed a Memorandum of Understanding (MoU) with Pfizer Limited.
The collaboration aims to accelerate the journey of innovative healthcare products from the lab to the market by providing both financial and non-financial support to startups.
Under this partnership, the Pfizer Endowment Programme will provide grants of up to Rs 60 lakh to empower DPIIT-accredited startups. Along with this, a special 18-month incubation programme (supporting business or startup at the earliest stage) will also be run by Social Alpha.
The programme will provide a dedicated accelerating track, covering clinical validation, regulatory approvals, and market entry strategies. The startups will also get access to expert guidance, infrastructure and global network, in addition to experience at Chennai-based Pfizer's R&D centres. This will enable startups to invigorate innovations with enhanced industry insights.
The initiative will provide support to 14 leading medtech startups innovating in screening, diagnostics, health monitoring, and treatment. It will focus on non-communicable diseases, oncology, brain health, maternal and child health and immunisation.
