The Society for Innovation and Development (SID) at Bengaluru-based Indian Institute of Science (IISc) has extended its partnership with a non-profit organisation, Honeywell Hometown Solutions India Foundation (HHSIF), to support a total of 13 start-ups working in the field of research and development in deep science.
HHSIF, the philanthropic arm of Honeywell India, will provide these start-ups with seed capital, while SID will offer infrastructure support, access to the right technology, mentoring, and human capital.
Start-ups focused on R&D in deep science solutions were eligible for funding and support under this partnership, HHSIF said in a statement on February 28.
Preference was given to start-ups with founders from marginalised communities or to those working on solutions that have a direct impact on disadvantaged communities, the organisation further stated.
Start-ups 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).
Honeywell and IISc, entered into a partnership last year to support six start-ups working on deep science solutions, primarily in the healthcare sector, the statement noted.
“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 (corporate social responsibility) route,” said B Gurumoorthy, chief executive, SID, IISc.
“Our partnership with SID is an endeavour towards driving local innovation, fostering a dynamic start-up ecosystem and enabling job creation,” said Ashish Gaikwad, managing director, Honeywell Automation India Limited, and director of HHSIF.