IIT- Delhi and Pharmaceutical giant Pfizer today launched an incubation accelerator for healthcare innovations in India. The programme will be open to Indian entrepreneurs and startups, and will provide all required support and guidance for converting healthcare ideas into patents and will also provide legal and services support to those seeking support to file a patent.
The programme will provide two years of residential incubation at IIT Delhi, funding of up to Rs. 50 lacs for each innovator, mentoring support from IIT Delhi’s faculty, access to infrastructure and prototyping laboratories, IP search and filing services, guidance from Pfizer’s global experts, and access to venture capitalists and other industry linkages.
Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP), said in a statement to ET
“In a knowledge economy, our success will be determined by the place we hold on the global innovation platform. I congratulate Pfizer and IIT Delhi on forging this partnership that will fuel indigenous innovations in the country. The Government is taking decisive steps to further enhance the innovation ecosystem in India and we welcome the participation of all stakeholders in this effort,”
Applicants can submit their proposals between November 27 and January 15, 2016 at the website of the Foundation for Innovation and Technology Transfer (FITT), IIT-Delhi. For those who already have a ready proof of concept and are seeking to obtain a patent, the Program will provide access to intellectual property attorneys and services and cover the patent fee.
Pfizer, applies science and their resources to bring therapies to people and simultaneously work towards discovery, development and manufacture of health care products. Their global portfolio includes medicines and vaccines as well as many of the world’s best-known consumer health care products. It is one of the world’s premier innovative bio-pharmaceutical companies, they have been collaborating with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world for last 150 years.