India Pharma Outlook Team | Wednesday, 06 April 2022
Drug maker Pfizer on Tuesday said it has launched the Pfizer INDovation Program to back healthcare innovation start-ups in India in the areas of oncology and digital health. Pfizer will provide grants of up to Rs 65 lakh and two years of incubation support through the Indian Institutes of Technology (IITs) and other top academic institutions to six startups, starting with three in the first year.
The focus of the grants is to allow startups to accelerate the lab-to-market journey of their innovation. A nationwide call for applications in a grand challenge format will be declared to invite digital health and oncology start-ups working on the identified priority problem statements. Pfizer has joined hands with 15 partners to support
startups on all their needs. These include Atal Innovation Mission (AIM), NITI Aayog, Social Alpha,Foundation for Innovation and Technology Transfer - IIT-Delhi and AGNIi; with UN Health Innovation Exchange (UNHIEX) as knowledge partner. Social Alpha and IIT Delhi together will provide support and guidance for 24 months to facilitate the journey of the startups to market launch, help refine the business model, navigate the regulatory landscape, and provide an understanding of national and global market dynamics.
"This is the second version of the Pfizer IIT-Delhi Innovation and IP Program, and is one of Pfizer’s flagship CSR initiatives," said S. Sridhar, managing director, Pfizer (India). "With this program, we are looking to address the challenges start-ups face after crossing the early-stage product growth so that many of these unique ideas and solutions can become commercially successful products,” Sridhar added. Sridhar said the first version Pfizer has successfully raised nine healthcare innovators and supported 19 IP filings. “We expect this program to help start-ups and young innovators to bring healthcare solutions that will address unmet needs in the priority areas of Oncology and Digital Health for not just India, but the world,” said Amitabh Kant, CEO, NITI Aayog.
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