Medikabazaar, an online marketplace for purchase of medical products and medical supplies by hospitals and medical establishments has announced that they have signed a Memorandum of Understanding (MoU) with the prestigious Kalam Institute of Health Technology (KIHT) based in Vishakhapatnam, India. The MoU states that Medikabazaar will showcase innovative technologies ready to be purchased for industrial manufacturing by medical products manufacturers. This will be the first ever e-auction where medical technology can be bought or auctioned. This partnership will help support MedTech transfers and facilitate rapid industrial promotion.

Kalam Institute of Health Technology has collaborated with Medikabazaar for the e-auction of technologies related to medical devices developed by members of the cluster. In a major knowledge transfer boost, KIHT will assist members of Medikabazaar with appropriate information on important domain expertise and available facilities for focused R&D on medical devices.

Medikabazaar will work with KIHT towards technology transfers and improving technology market access, production and competitiveness from their members. It will also actively promote the e-auction portal of KIHT on its website for enabling medical product manufacturers to participate in the online bidding of technology transfer.

Mr. Vivek Tiwari, Founder and CEO of Medikabazaar stated, "I am proud to be associated with Kalam Institute of Health Technology and would like to announce that we are the first portal in healthcare space to facilitate e-auction for technology transfer. Now anyone looking at buying or bidding for innovative medical technology in medical devices can do so simply through the website ."

Dr. Jitendar Sharma, Managing Director & CEO, Andhra Pradesh MedTech Zone, stated, "Partnership between Medikabazaar and KIHT brings the academia one step closer to the medical industry. Medikabazaar has an impressive list of medical devices manufacturers on-board and they can explore acquiring these innovative medical technologies developed in research labs funded by Government of India. By acquiring license of technologies, manufacturers can significantly save time on R&D and go-to-market."