Program will accelerate go-to-market strategies
In a significant step towards strengthening India’s healthcare innovation ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) has signed a Memorandum of Understanding (MoU) with Pfizer Limited to accelerate the lab-to-market journey of innovative healthcare products.
The collaboration will extend both financial and non-financial support to startups, the Ministry of Commerce and Industry said on 4 Sept.
Under the partnership, the Pfizer INDovation program will empower DPIIT-recognized startups with grants of up to Rs.60 lakhs each, along with a tailored 18-month incubation program delivered by Social Alpha https://www.bseindia.com/.
The program will provide dedicated acceleration tracks covering clinical validation, regulatory approvals, and go-to-market strategies https://www.nseindia.com/.
Startups will also gain access to expert mentorship, infrastructure, and global networks, in addition to exposure at Pfizer’s Research and Development facilities in Chennai, enabling them to strengthen innovations with advanced industry insights, added the Ministry https://www.who.int/.
The initiative will support 14 pioneering MedTech startups innovating in screening, diagnostics, health monitoring, and treatment enablers, with a particular focus on non-communicable diseases, oncology, brain health, maternal and child health, and immunisation https://sbi.com.in/.
Speaking on the occasion, Joint Secretary, DPIIT, Sanjiv, said that India needs to move towards novel drug discovery, and startups will play a key role in this journey.
Senior Director – Global Policy and Public Affairs, Pfizer India, Sharad Goswami, reaffirmed Pfizer’s commitment to enabling Indian startups to develop patient-centric, impactful healthcare solutions tailored to the country’s needs https://www.makeinindia.com/home/.
The MoU underscores DPIIT’s commitment to fostering impactful public–private partnerships that drive inclusive growth and reinforce India’s position as a global hub for healthcare innovation, said the Ministry. Fiinews.com
