Axilor Ventures, a business incubator run by Infosys co-founders, has partnered Narayana Health and government’s Centre for Cellular and Molecular Platforms to promote innovations in healthcare, Axilor Co-Founder D. Shibulal said.
Axilor, is creating a virtual platform that will enable entrepreneurs and startups to seek technical and business advice. It will also provide access to research and clinical resources and help entrepreneurs raise funds. Krish Gopalakrishan, a former vice-chairman of Infosys, is the other co-founder of Axilor. There is a tremendous need for innovation in healthcare but it is not attracting as many entrepreneurs as other sectors, according to Axilor.
“You drive 15 miles out of Bengaluru and it is completely a different scenario, you do not have access to even basic healthcare,” said Mr. Shibulal. He said 70 per cent Indians live in rural areas. But about 70 per cent of India’s healthcare facilities are present in urban areas. Even in urban areas, the poor don’t have access to basic healthcare.
In its first initiative, Axilor’s virtual platform has introduced a nationwide innovation challenge called ‘Healiate 2016’. It is focused on finding innovative solutions for diabetes. There were 66.8 million cases of diabetes in India in 2014, according to International Diabetes Federation. The challenge is open to entrepreneurs, researchers, medical professionals, inventors and startups.
Axilor said that five winners will be eligible for a cash prize of Rs two lakh. They will also get free admission to accelerator programmes run by Axilor and C-Camp.
Narayana Health and C-Camp will provide the technical knowhow and access to research and clinical facilities. Axilor said the startups are also eligible to potential funding of up to Rs.75 lakh, which includes grant and seed capital. The winners will be announced during an annual conference, which would be held in February. “There is an ecosystem being formed for innovation in the country. We want to bring focus on healthcare in a much more structured manner,” said Mr. Shibulal.
