Science for Society: Honeywell To Support Indian Deep Science Startups

The Indian startups in agri-tech, clean-tech, health-tech, and green-tech sectors, striving towards societal and environmental well-being, have the opportunity to receive funding and research support from Honeywell.

Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell has joined forces with the Foundation for Science, Innovation and Development (FSID) and the Indian Institute of Science (IISc). This partnership aims to provide essential research and financial support to Indian startups, particularly those engaged in deep science research. Over the past four years, this initiative has extended capital worth Rs 9 crores to 37 Indian start-ups.

With a keen focus on sectors vital to societal and environmental well-being, Honeywell has directed its support towards agri-tech, clean-tech, health-tech, and green-tech startups. In the fiscal year 2023-24, Rs 2.4 crores were allocated to eight startups, along with support for five entrepreneurship-in-residence programs. Looking ahead, the initiative plans to onboard an additional 10 start-ups in the current fiscal year.

Encouraging Deep Science and Technology Research

The collaboration between Honeywell and IISc aims not only to provide financial assistance but also to foster deep science and technology research. By supporting start-ups focused on addressing environmental, agricultural, and health challenges, the partnership seeks to fuel innovation that makes a tangible impact on society.

One of the key advantages of this collaboration is the access it provides to state-of-the-art facilities and a network of industry stakeholders, government bodies, investors, and enterprises. This synergy between Honeywell and IISc has facilitated the growth of start-ups by connecting them with resources essential for their development and success.

Start-ups Benefiting from the Collaboration

Several start-ups have already benefited from the collaboration between Honeywell and IISc. Among them are health/med-tech companies such as Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, and Cellsion Technologies Pvt Ltd. Additionally, agri-tech companies like Kaiza Tech and Green Collar Agritech have received support, alongside clean-tech start-up Mushloop Pvt Ltd.

Ashish Modi, President of Honeywell India, emphasized the significance of encouraging deep science and tech research among startups. He highlighted the company's commitment to nurturing innovative prowess, citing their collaboration with over 40 start-ups in the past four years. An exemplary success story from this partnership is AI Highway, which offers cost-effective cardiac disease screening systems utilizing advanced signal processing and AI capabilities.

“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,” he said.

Another notable start-up, Dfine Bio Innovations Pvt Ltd, has developed the FibriTimer Zeta-1, an indigenously built hemostasis system that aids clinicians in understanding bleeding and thrombosis events. This innovation represents a significant milestone in Indian med-tech.

B Gurumoorthy, Director of FSID and Professor at IISc, emphasized the unique challenges faced by deep science start-ups. He highlighted the importance of significant upfront capital and access to world-class labs and tools to bring innovations from the lab to the market successfully.

“Deep science startups are characterised by long gestation periods, require significant upfront capital and access to world class labs and sophisticated tools to take their innovation from lab to market,” he said.

The collaboration between Honeywell and IISc will support Indian start-ups engaged in deep science research by providing both financial assistance and essential resources. This initiative not only fosters innovation but also contributes to addressing critical societal and environmental challenges. As the partnership continues to grow, it promises to catalyze further advancements in agri-tech, clean-tech, health-tech, and green-tech sectors, ultimately shaping a brighter future for India's entrepreneurial landscape.

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