Honeywell Partners with IISc to Fund Science Startups with Societal Impact

With an aim to support deep science startups with societal impact, multinational conglomerate Honeywell International has partnered with the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc). As part of the partnership, Honeywell will fund six startups incubated at SID including Azooka Labs, Siamaf Healthcare, Protein Design, Mimyk Medical Simulations, HealthSeq Precision Medicine, and PathShodh Healthcare. All these startups will work for finding solutions in the field of biotechnology, healthcare, and nanotechnology.IISc startup Equine Biotech develops affordable COVID-19 diagnostic kit, gets ICMR nod. "We see this partnership as a path to fostering a vibrant startup ecosystem, driving innovation to solve societal challenges, and opening up pathways for job creation and economic stimulation,” Business-Standard quoted Honeywell India President Akshay Bellare as saying.

At SID we are well positioned to nurture and grow startups by providing access to the right technology, lab infrastructure, seed funding, mentoring and human capital. We are hopeful that this collaboration with Honeywell will encourage more corporates to support technology incubation through CSR funding

Apart from finding solutions in the field of biotechnology, these startups will also be creating solutions for COVID-19, which include building a new class of ecofriendly specialty fluorescent dyes and a rapid point-of-care diagnostics test for use in low resource settings, reported the daily. "At SID we are well positioned to nurture and grow startups by providing access to the right technology, lab infrastructure, seed funding, mentoring and human capital. We are hopeful that this collaboration with Honeywell will encourage more corporates to support technology incubation through CSR funding," SID's Chief Executive B Gurumoorthy said.

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