Kerala has the potential to develop into a hub for smart manufacturing in the medical technology sector, Kerala Startup Mission (KSUM) Chief Executive Officer Anoop P. Ambika has said.
He was speaking after a panel discussion on ‘Start-up opportunities in medtech and healthcare’ at the KSUM amphitheatre at Kalamassery on Tuesday.
“We have the right logical aptitude and craftmanship to evolve into a smart manufacturing hub. What we need is a couple of globally recognised anchor clients,” said Mr. Ambika.
The arrival of global clients will lead to the development of an MSME ecosystem capable of contributing a constant supply of components to them. The State government’s initiative of setting up one lakh MSMEs will also play to the advantage of Kerala, he observed.
The Kerala Medical Technology Consortium (KMTC), a flagship initiative of the State government, which aims at positioning the State as a global destination for medical technology and devices will also help. Efforts are under way to bring a major investment in medtech to the State by the end of the year.
“We already have five or six Kerala-based companies doing ambitious work in the field of medical technology,” said Mr. Ambika
During the panel discussion, he spoke about the various initiatives and support being extended by the KSUM to start-ups and researchers in the State to build medtech ventures.
Anuradha Shankar, CEO, Technology Innovation Foundation, IIT Palakkad, showcased the incubation facility for medtech start-ups. She also deliberated on how academia and industry had come together to work on ambitious medtech projects.
Silji Abraham, vice president and chief technology officer, West Pharmaceutical Services, explained how it was a long journey to get Food and Drug Administration approvals to sell in US markets. He said the company was looking for promising start-ups in India.
Medtech start-ups may take five to 10 years to take to market after clinical trials and the requisite approvals.
Prakash Bare, technologist and actor, moderated the discussion.