Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell India, and the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) here have extended their partnership to support 13 new startups to promote research and development (R&D) in deep science and fuel local innovation.
HHSIF will provide these startups with seed capital, while SID will offer infrastructure support, access to the right technology, mentoring, and human capital.
Startups focused on R&D in deep science solutions were eligible for funding and support under this partnership, HHSIF said in a statement on Monday.
Preference was given to startups with founders from marginalised communities or to those working on solutions that have a direct impact on disadvantaged communities, it was stated.
Accordingly, startups that have been selected under this round of funding include those working on COVID-19 solutions, developing medical technologies to assist the elderly and differently abled, building eco-friendly specialty fluorescent dyes, creating rapid point of care diagnostics tools for use in limited resource settings, and working on solving issues related to water, sanitation and hygiene (WASH).
Our partnership with SID is an endeavor towards driving local innovation, fostering a dynamic startup ecosystem and enabling job creation, said Ashish Gaikwad, Managing Director, Honeywell Automation India Limited and Director, HHSIF.
We believe that this association with Honeywell will act as a catalyst for technological innovation and lead the way for more corporates to form incubation associations through the CSR route, said Professor B. Gurumoorthy, Chief Executive, SID, IISc.
Honeywell and SID, IISc, entered into a partnership last year to support six startups working on deep science solutions, primarily in the healthcare sector, the statement noted.
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