In a remarkable collaboration, Honeywell Hometown Solutions India Foundation (HHSIF) has joined forces with the Foundation for Science, Innovation and Development (FSID) at the prestigious Indian Institute of Science (IISc) to support 37 Indian start-ups with research and financial assistance totaling ₹9 crores over the last four years. The focus is on agri-tech, clean-tech, health-tech, and green-tech ventures.
Honeywell’s Impactful Funding
During FY23-24, Honeywell extended funding amounting to ₹2.4 crores to eight start-ups and five entrepreneurship-in-residence programs (EIRs). The plan for the current fiscal year includes onboarding 10 new start-ups to further drive innovation and growth in the deep science sector.
Collaborative Support for Start-ups
Through this partnership, Honeywell offers seed funding and essential research support to start-ups focusing on environmental, agricultural, and health challenges. The synergy between Honeywell and IISc has facilitated access to cutting-edge facilities and valuable connections with industry stakeholders, government bodies, and various funding sources.
Success Stories and Impact
Notable beneficiaries of the collaboration include health/med-tech companies like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, and agri-tech firms such as Kaiza Tech and Green Collar Agritech. One standout start-up is ‘AI Highway,’ which offers cost-effective cardiac disease screening systems employing advanced signal processing and AI capabilities.
Another remarkable success story is Dfine Bio Innovations Pvt Ltd, a Medtech start-up supported by Honeywell, known for developing the innovative hemostatis system named FibriTimer Zeta-1.
Future Endeavors and Vision
Looking ahead, Ashish Modi, President of Honeywell India, emphasized the importance of nurturing deep science/tech research to foster innovation and drive societal impact. With plans to onboard more start-ups in the upcoming financial year, the collaboration between Honeywell and IISc aims to create a fertile ecosystem for emerging businesses.
For more information on Honeywell Hometown Solutions India Foundation and their impactful initiatives, visit their official website.
To learn more about the Foundation for Science, Innovation and Development at the Indian Institute of Science, visit their website.