NEW DELHI

IIT partners with Pfizer to support healthcare innovation

Drug firm Pfizer has partnered with the Indian Institute of Technology (IIT) Delhi to launch an initiative to support individuals and start-ups for creating healthcare innovations in the country.

The initiative — “Pfizer IIT Delhi innovation and IP Program” is open to Indian nationals, individuals and start-ups.

Under the programme, Pfizer will provide an unencumbered grant of up to Rs.50 lakh to each innovator, who will own the patents and will be free to commercialise them.

The programme has two components. For innovators seeking support to translate healthcare ideas into patents, the programme will provide an unencumbered grant of Rs.50 lakh, two years of residential incubation at IIT Delhi, mentoring support from IIT Delhi’s faculty, access to infrastructure and prototyping laboratories.

The IP search and filing services, guidance from Pfizer’s global experts, and access to venture capitalists and other industry linkages will also be provided to them. Commenting on the initiative, Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant said: “The government is taking decisive steps to further enhance the innovation ecosystem in India and we welcome the participation of all stakeholders in this effort”.

Nurturing entrepreneurship and innovation is a priority for India. In a knowledge economy, the country’s success will be determined by the place it holds on the global innovation platform, he added.

The incubation accelerator initiative is co-created by Pfizer and the Foundation for Innovation and Technology Transfer (FITT) at the Indian Institute of Technology.

“For innovators who already have a ready proof of concept and are seeking to obtain a patent, the programme will provide access to IP attorneys and services and cover the patent fee”, Pfizer said.

“Our Innovation and IP Program with IIT Delhi will promote, celebrate and reward innovations and advancements in healthcare that are born and brought up in India for the benefit of our people,” Pfizer India Executive Director S Sridhar said.

The program will invite two rounds of proposals during the year 2015-2016. Call for proposals for the first round will open from November 27, 2015 until January 15, 2016.

Applicants can submit their proposals on the FITT website. An independent panel of subject matter experts established by FITT will review and short-list the potential incubatees.

The Technology Business Incubator Unit board at IIT Delhi will make the final selection of individuals and start-ups that shall receive the grants and be incubated at IIT Delhi.

Headquartered in Mumbai, Pfizer has been in India for over 60 years.



Department of Industrial Policy and Promotion Secretary Amitabh Kant said: “The government is taking decisive steps to further enhance the innovation ecosystem in India and we welcome the participation of all stakeholders in this effort”





The programmme will invite two rounds of proposals during 2015-2016. The first round will open from November 27