Lack of understanding leads to inadequate funding in deep science ventures, says IISc. professor

Deep science start-ups are problem-oriented and map to at least one of the sustainable development goals

The funds that are currently received by deep science ventures floated by startups in India are inadequate due to the lack of understanding of the science and technology spectrum, said Prof. B. Gurumoorthy, Chief Executive, Society for Innovation and Development (SID), Indian Institute of Science (IISc.), Bengaluru.

Deep Science start-ups were problem-oriented and map to at least one of the sustainable development goals, he said.

“Support for such ventures is inadequate. One of the reasons is the lack of understanding of the underlying science and technology that tends to be diverse and complex,” he added.

According to Prof. Gurumoorthy, Honeywell’s CSR grant has helped nine start-ups and three EIRs (entrepreneur in residence) in diverse areas such as energy, water, medtech, and packaging materials. 

Honeywell’s philanthropic arm, Honeywell Hometown Solutions India Foundation (HHSIF), in partnership with SID, has funded and incubated 30 start-ups since 2019. These start-ups are focused on finding solutions in the fields of biotechnology, healthcare, and nanotechnology that have the potential to offer advanced scientific solutions to some of the pressing needs in healthcare and environment.

They include Azooka Labs, HealthSeq Precision Medicine, Equine Biotech, Protein Design, Siamaf Healthcare, Mimyk Medical Simulations, PathShodh Healthcare, Theranautilus and OpenWater, which focus on subjects ranging from highly advanced healthcare to sustainability.

Interestingly, most of these startups are led by either women or teams that are from the underprivileged communities.