Honeywell Hometown Solutions India Foundation (HHSIF), Honeywell India's philanthropic arm, and the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) here have expanded their partnership to support 13 new startups in deep scientific research and development (R&D) and local innovation.
HHSIF will provide seed capital to these startups, while SID will provide infrastructure support, access to appropriate technology, mentoring, and human capital. HHSIF said in a statement on Monday that startups focused on R&D in deep science solutions were eligible for funding and support through this partnership.
It was stated that startups with founders from marginalized communities or those working on solutions that have a direct impact on disadvantaged communities were given preference.
As a result, startups working on COVID-19 solutions, developing medical technologies to assist the elderly and differently-abled, developing eco-friendly specialty fluorescent dyes, developing rapid point of care diagnostics tools for use in limited-resource settings, and working on water, sanitation, and hygiene issues have been chosen for this round of funding (WASH).
“Our collaboration with SID is an effort to drive local innovation, foster a vibrant startup ecosystem, and enable job creation,” said Ashish Gaikwad, Managing Director, Honeywell Automation India Limited and Director, HHSIF.
“We believe that this collaboration with Honeywell will serve as a catalyst for technological innovation and pave the way for more corporations to form incubation associations through CSR,” said Professor B. Gurumoorthy, Chief Executive, SID, IISc.
According to the statement, Honeywell and SID, IISc, formed a partnership last year to support six startups working on deep science solutions, primarily in the healthcare sector.
About IISc
The Indian Institute of Science (IISc) was established in 1909 by a visionary partnership between the industrialist Jamsetji Nusserwanji Tata, the Mysore royal family and the Government of India.
It is one of the world's leading academic institutions with excellence in research and promoting innovation, and provides world-class education to train future leaders in science and technology, and by applying scientific and technological breakthroughs for India's wealth creation and social welfare.
