The programme has been developed to address the challenges faced by start-ups in the rapidly growing med-tech domain
Research and Innovation Circle of Hyderabad (RICH) announces the selected start-ups forming the second cohort of the Acceleration Initiative for Diagnostics (AID) programme
The programme has been developed to address the challenges faced by start-ups in the rapidly growing med-tech domain—ranging from inaccessible equipment, clinical samples, and research expertise to a lack of mentorship and difficulties in outreach. With the winners being announced, now RICH-AID’s second cohort of start-ups will become equipped to generate impact across the fields of psychometrics, nanotechnology, biotherapeutics, point-of-care devices, wearable devices, lateral flow assays for screening, affordable, accessible and tech-enabled glucometers, and cloud-based analytics specific to the Indian context.
Rashmi Pimpale, CEO, RICH said, “There has been no time like the COVID-19 pandemic to make us realise the importance of diagnostics both for early screening and prevention of diseases. RICH hopes to bring new ideas, through start-ups, into an already fertile ecosystem of industry, hospitals, clinicians, and mentors that Telangana has. With this second cohort of the AID programme, we hope to continue to engage with and help transform the diagnostics space in Telangana.”
The call for the second AID cohort saw 60 applications overall. Applications closed on 25th December 2021. The selection panel of thematic experts and industry leaders evaluated the entries on parameters like technical strength, usability, market potential, profitability, and technology readiness of the product. And the 8 start-ups finally selected for the second cohort are XequalsZERO, Ameliorate BioTech, UrvogelBio, VivBioTech, BioAssistant, InMed Prognostics, Intignus and Vivalyf Innovations.
The selected candidates will be supported through incubation at AIC-CCMB (Atal Incubation Centre – Centre for Cellular and Molecular Biology) and I-Venture@ISB. Over the next 6 months, based on their requirements, they will receive one-on-one mentorship from leading venture capitalists, doctors and healthcare professionals, industry leaders, and regulatory experts for support in incubation, testing, and validation of their product. They will also receive an acceleration grant of Rs one lakh each.
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