Honeywell India boosts innovation by funding deep science start-ups through partnership with IISc
The Hindu
Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), in partnership with the Foundation for Science, Innovation and Development (FSID), Indian Institute of Science (IISc), renowned for its cutting-edge deep sciences research, has extended research and financial support to 37 Indian start-ups, extending capital worth ₹9 crores over the last four years. With an intensive focus on agri-tech, clean-tech, health-tech and green-tech, Honeywell has extended funding worth ₹2.4 crores in FY23-24 to eight start-ups and five entrepreneurship-in-residence programs (EIRs), and further plans to on-board 10 new start-ups in the current fiscal.
Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), in partnership with the Foundation for Science, Innovation and Development (FSID), Indian Institute of Science (IISc), renowned for its cutting-edge deep sciences research, has extended research and financial support to 37 Indian start-ups, extending capital worth ₹9 crores over the last four years. With an intensive focus on agri-tech, clean-tech, health-tech and green-tech, Honeywell has extended funding worth ₹2.4 crores in FY23-24 to eight start-ups and five entrepreneurship-in-residence programs (EIRs), and further plans to on-board 10 new start-ups in the current fiscal.
According to the release, through this collaboration, Honeywell provides seed funding and essential research support to start-ups in the realm of deep science focusing on addressing environmental, agricultural and health challenges.
Over the years, the synergy between Honeywell and IISc has been highly sought after, it has helped to extend access to state-of-the-art facilities, connect with industry stakeholders & government bodies, global network of High Net Worth Individuals (HNIs), Angels, Venture Capitalists (VCs) as well as Micro, Small & Medium Enterprises (MSMEs) in India.
In FY23-24, Honeywell and IISc’s collaborative benefits were extended to health/med-tech companies like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, Hoyasan Labs Pvt Ltd, Cellsion Technologies Pvt Ltd and Easescan MedTech Private Limited; and to agri-tech companies like Kaiza Tech and Green Collar Agritech; as well clean-tech start-up Mushloop Pvt Ltd.
Ashish Modi, president, of Honeywell India, said, “Our core focus is not just to extend financial support but also to encourage deep science/tech research which fuels the innovative prowess of these businesses. Over the past 4 years, we have worked with over 40 start-ups and will be on-boarding another 10 in the upcoming financial year. Together, with IISc, we are cultivating a fertile ecosystem for these companies, making a tangible impact on society.”
An exemplary start-up supported by Honeywell and IISc is ‘AI Highway,’ offering cost-effective cardiac disease screening systems leveraging advanced signal processing and AI capabilities that can screen, detect and predict cardio-respiratory disorders.
Dfine Bio Innovations Pvt ltd is a Medtech start-up supported by Honeywell grant. The start-up has developed an indigenously built hemostatis system named FibriTimer Zeta-1 (a first by any Indian Company). Zeta - 1 uses the patented dual technology and helps clinicians in understanding the defects in humans for bleeding and thrombosis events.
Residents of Chettichavadi express concerns over deteriorating groundwater quality due to long-standing garbage dumping issues in Salem West.
Community Health Officers in Vijayawada protest for reduced workload and continued incentives amid growing dissatisfaction over salary changes.
Telangana faces 13,929 healthcare vacancies, primarily in doctors and nurses, as recruitment efforts aim to address the shortage.
For most patients with TB who are severely underweight, nutritional support is an essential and not optional part of treatment
Family of custodial death victims demands harsh punishment for nine convicted policemen to prevent future abuses of power.
Rajinikanth refutes TVK leader's claims about DMK threats preventing his political entry, expressing gratitude to supportive political figures.
CM announces Cabinet Sub-Committee on Musi rejuvenation; rehabilitation for all displaced
Ramanathapuram identifies 145 polling stations as sensitive, ensuring security with paramilitary forces ahead of assembly elections, says DEO.
BJP Puducherry president V. P Ramalingam files nomination for Raj Bhavan, joined by Union Minister Mandaviya and Khushbu Sundar.
History-sheeter 'Thoppai' Ganesh shot dead by police in Chennai after attacking officers during attempted escape.
The government plans to amend the FCRA, introducing new regulations for NGO asset management and accountability for key functionaries.
The draft policy for “Responsible Digital Use Among Students”, released on Monday by the Department of Health and Family Welfare, has recommended that parents set structured routines with clear screen-time rules and prioritise privacy, safety, and open conversation with children on digital well-being.
Police Observer Sushant Kumar Saxena conducts surprise inspection at Shencottai police station, reviewing warrants and security arrangements ahead of elections.