Hyderabad Monday, 10th July 2023. Research and Innovation Circle of Hyderabad (RICH) today announced the members of the 4th cohort of its Acceleration Initiative for Devices and Diagnostics (AID) programme.
Launched in 2021, the AID programme is specifically designed to address the challenges that innovators in the life sciences ecosystem face while taking their products to market. These include limited access to equipment and prototyping facilities, difficulties in obtaining clinical samples for testing, lack of testing and validation facilities, inadequate clinical inputs during product development, uncertainties surrounding regulatory approvals, and a dearth of mentorship opportunities to provide an understanding of digital technologies, manufacturing, demand, marketing, and pricing issues.
“Through continuous efforts and strategic collaborations, we have built a comprehensive and vibrant multi-disciplinary ecosystem in partnership with academic and research institutions, as well as key hospitals in Hyderabad,” said Rashmi Pimpale, CEO of RICH, “to really expand the scope of our AID programme, and help start-ups in the life sciences space realise their full potential. We extend a warm welcome to the members of the newest cohort and look forward to witnessing their contributions in driving the advancement of the MedTech sector in Telangana and India.”
After a rigorous selection process, 9 start-ups have been chosen from a pool of over 120 applicants to participate in the 4th cohort of the AID programme. They are:
- Miraqules: A BioMedical start-up developing fast-acting anti-bleeding compounds that address the critical issue of post-trauma haemorrhage.
- Velectron Labs: With a focus on wearable medical technology, Velectron Labs aims to assist individuals undergoing rehabilitation for addiction problems.
- Diagopreutic Pvt. Ltd.: Developing advanced and affordable solutions for urinary tract infections.
- Wissenkraft Labs: Their implant surface solution Osseokraft offers simultaneous functional abilities of bone on-growth and antibacterial activity.
- Nirvesh Enterprises: Speacialising in wearable medical devices for personalised brain health management.
- ReproSci: Their product Fertilator is a high-fidelity medical training simulator for assisted reproduction.
- Robo Bionics: Developing affordable prosthetics and bionics to improve the lives of amputees.
- Hi Rapid Labs: Their digital platform Comprehensiv aims to provide at-home healthcare to Indian citizens through trained local community healthcare personnel.
- Femacare: With a focus on women’s health, this start-up is developing a novel contraceptive device that will also be able to prevent HIV and other STIs.
Over the next six months, these start-ups will receive invaluable support, including personalised shadow mentors, domain-specific mentors tailored to their needs, and comprehensive workshops covering various aspects of product development, such as technical refinement, clinical validation studies, commercialisation strategies, etc. Moreover, they will have exclusive access to hospital-based testbeds for clinical validation, usability assessments, and feasibility studies to enhance their product offerings. RICH will also facilitate connections between these innovators and government bodies, industry associations, and potential investors, fostering opportunities for market access, pilot batch manufacturing, scale-up, and funding.
Upon graduation from the programme, each start-up will receive need-based market entry support for the subsequent five years, ensuring a smooth transition into the commercial landscape.
So far, the AID programme has successfully helped 27 start-ups across three previous cohorts scale up their innovations and create a significant impact in the market. Many of these start-ups have gone on to receive prestigious awards and recognition, underscoring the programme’s efficacy in nurturing entrepreneurial success. As RICH welcomes the new cohort of talented innovators, it reaffirms its commitment to driving the growth and transformation of the life sciences sector in Telangana.
