This was the first edition of this workshop series by Research and Innovation Circle of Hyderabad (RICH)
A month-long awareness and hands-on workshop series called “ABCs of Medical Devices and In-vitro Diagnostics (IVDs) Commercialisation Journey” came to a successful end. It was attended by aspiring entrepreneurs, researchers, start-ups, MSMEs, SMEs, and industry players. This was the first edition of this workshop series by Research and Innovation Circle of Hyderabad (RICH).
The series was divided into four tracks: intellectual property, regulatory, industry immersion, and clinical exposure. Each track was led by experts in the field, providing participants with in-depth knowledge and practical insights into the various stages involved in scaling a proof-of-concept validated idea to a marketable product.
Rashmi Pimpale, CEO, RICH said, “The journey of bringing a novel medical device to market is a long, complex, and daunting one. Within the realm of medtech innovation, risks and uncertainties loom even larger. However, with a clear process and collaborative efforts involving key stakeholders, success becomes attainable. The participants unanimously agreed that the series not only enriched their understanding but also facilitated the creation of beneficial connections.”
The intellectual property track focused on ideation research, patent due diligence, and patent navigation under the guidance of experts from AvidInvent, who are in the healthtech and medtech intellectual patent spaces. The regulatory track covered the key stages in bringing a medical device or IVD to market, including regulatory compliance, market authorisation, and post-market surveillance. Officials from Central Drugs Standard Control Organisation (CDSCO) under the Directorate General of Health Services, Ministry of Health & Family Welfare, Government of India, along with ICICI Knowledge Park’s (IKP) Global Regulatory Forum (IGRF) provided participants with a detailed understanding of the regulatory process for entering the Indian market.
The industry immersion track gave participants the opportunity to visit leading medical device and IVD companies in Telangana, such as Sahajanand Medical Technologies (SMT), Akriti Opthalmic, Huwel Life Sciences, and PathnSitu Biotechnologies, and learn about their manufacturing processes and compliance requirements. Finally, the clinical exposure track provided participants with the opportunity to observe clinical trials and gain insights into the clinical validation process.
The series concluded with a start-up showcase, which also provided networking opportunities for hospitals and start-ups to come together and forge new collaborations.
“The ABCs of Medical Devices and IVDs Commercialisation Journey” reflects RICH’s continued commitment to driving the growth and transformation of the life sciences sector in Telangana.