Mazumdar Shaw Medical Foundation launches India’s first corporate hospital-based technology business incubator

Mazumdar Shaw Medical Foundation (MSMF) on Tuesday launched India’s first corporate hospital-based Technology Business Incubator, MSMF MedTech Innovation Centre - BIRAC BIONEST, at Narayana Health City in Bengaluru.

Aimed at helping entrepreneurs address affordability, access, and other challenges in the healthcare sector, the physical incubator hopes to onboard 10 startups in 2021. It claims to be capable of supporting about 39 startups at any given time, with a total seating capacity of 82.

Self-made billionaire entrepreneur and founder of Mazumdar Shaw Medical Foundation, Kiran Mazumdar Shaw, said the incubation space will enable a collaborative ecosystem for tech entrepreneurs with access to the clinical expertise of Narayana Health.

It will also allow entrepreneurs to co-create and identify clinical challenges with doctors, scientists and technology enthusiasts, and provide prototyping facilities for startups.

Kiran Mazumdar Shaw asserted that “anything that comes out of MSMF MedTech Innovation Center is accessible to everyone who needs and affordability should be at the heart of it.”

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Devi Prasad Shetty, Founder and Chairman of Narayana Health, said each incubatee startup will be paired with a clinician to chart the right clinical validation pathway, and prove the product usability in a hospital setup. 

“India has the potential to become the next global R&D hub for biomedical devices and health technologies, and the Mazumdar Shaw Medical Foundation (MSMF) MedTech Innovation Centre at Narayana Health City, in collaboration with BIRAC, will help explore this potential,” Kiran added.

Paul C Salins, managing director of MSMF, and Manish Diwan, Head of Strategy - BIRAC, also joined the inauguration event.

Recognised by the Department of Science and Technology, and the Department of Biotechnology-BIRAC, the centre plans to introduce initiatives to further identify, mentor, and handhold entrepreneurs and innovators in the medtech space.

Kiran Mazumdar Shaw is also on the panel of The Lancet Citizen’s Commission to develop a roadmap to achieve universal health coverage, and work towards ensuring access to quality and affordable healthcare to every Indian.