MSMF MedTech Innovation Centre is India’s first corporate hospital-based technology business incubator for MedTech entrepreneurs working on innovations that address healthcare challenges
Bengaluru, NFAPost: Narayana Health in association with Mazumdar Shaw Medical Foundation announced the launch of a physical incubator called Mazumdar Shaw Medical Foundation (MSMF) MedTech Innovation Centre – BIRAC BIONEST.
A centre with a dedicated space of around 8000 sqft Mazumdar Shaw Medical Foundation (MSMF) MedTech Innovation Centre – BIRAC BIONEST will help MedTech entrepreneurs who are looking to address affordability, access and innovation challenges in the healthcare eco-system.
The MedTech Innovation Centre will also augment further the initiatives undertaken by Mazumdar Shaw Medical Foundation and Narayana Health towards identifying, mentoring and handholding entrepreneurs and innovators in their journey to success.
The space will facilitate close interaction and prototyping facility too for startups. The centre was inaugurated in the presence of Kiran Mazumdar-Shaw, Founder, Mazumdar Shaw Medical Foundation (MSMF) and Chairperson, Biocon, Dr. Devi Prasad Shetty, Founder and Chairman, Narayana Health, Dr. Paul C Salins, Medical Director & Sr. Vice-President – Mazumdar Shaw Cancer Centre, Narayana Health and Managing Director, MSMF along with Dr. Manish Diwan, Head of strategy BIRAC.
Speaking at the function, Mazumdar Shaw Medical Foundation (MSMF) Founder and Biocon Chairperson Kiran Mazumdar-Shaw said 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.
“It will provide health tech entrepreneurs a well-equipped incubation space and a collaborative ecosystem. Through MSMF MedTech Innovation Centre, we aim to fill the gap in healthcare innovation to have a single platform for entrepreneurs to co-create and identify clinical challenges in conjunction with doctors, scientists and technology enthusiasts. The wealth of research and medical data generated at Narayana Health will provide a translational science model, accelerating the lab to the market journey of innovative and promising solutions discovered and developed at MSMF MedTech Innovation Centre,” said Kiran Mazumdar-Shaw.
Inaugurating the centre, Narayana Health Founder and Chairman Dr. Devi Prasad Shetty said innovation is key to solve the healthcare concerns that Narayana Health is currently facing and he is very glad that the company has been able to create a platform that nurtures the creation of innovative solutions.
“MSMF’s vision is to fill the gap in healthcare innovation by creating a single platform for entrepreneurs to co-create solutions in conjunction with doctors, scientists and technology enthusiasts. We are hopeful the physical incubator will provide the much-needed facilities that startup look for to progress with their innovation. While we have been able to support over 25 startups through our other programs like Clinical Immersion Program (CIP) and our partnership with VC Firms like Villgro and Axilor,” said Dr Devi Prasad Shetty.
He also said Narayana Health has international collaborations with Japanese and Korean startups through JETRO and GAIN respectively.
“The physical infrastructure will help us to further strengthen our mission as the infrastructure can support 39 start-ups at any given point of time with the total seating capacity of 82. We are looking at nurturing 10 startups in 2021,” said Dr Devi Prasad Shetty.
Mazumdar Shaw Cancer Centre Medical Director & Narayana Health Srenior Vice-President and MSMF Managing Director Dr. Paul C Salins said Covid-19 stress to healthcare has exposed its weaknesses as never before.
“Engineering science must now play an increasingly powerful role, reducing dependence on doctors for healthcare and empowering individuals and communities to take ownership of health. The future of healthcare will be exciting, because we will see diagnostic and treatment possibilities never before imagined within a purely Medical sciences hospital paradigm,” said Dr Paul C Salins.
An extension of the existing CIP, apart from providing physical infrastructure, the centre will continue to provide start-ups access to the clinical expertise of Narayana Health. Each of the startups incubated in the centre will be paired with a clinician with whom they can co-create the innovation, device the right clinical validation pathway to prove the product in a hospital setup.
The centre is also recognised by both Department of Science and Technology and Department of Biotechnology-BIRAC, hence the startups get access to multiple grant opportunities through these agencies. The Centre also has a prototyping lab comprising of – mechanical, electronics and AI labs. These labs give the startups a facility to build and iterate medical devices or healthcare AI platforms and test it within the departments of Narayana Health.
With all super-speciality tertiary care facilities that the medical world offers, Narayana Health is a one-stop healthcare destination for all. Founded by Dr. Devi Shetty and headquartered in Bengaluru, Narayana Health group is one of the largest health care provider in the country in terms of operational bed count.
The first facility was established with approximately 225 operational beds in the year 2000 at NH Health City in Bengaluru. The Company today operates a chain of multispecialty tertiary and primary healthcare facilities across a network of 21 hospitals and 6 heart centres in India and single hospital overseas at Cayman Islands with nearly 5,920 operational beds across all its centres and potential to reach a capacity of over 6,656 beds.
The conviction behind the Mazumdar Shaw Medical Foundation established in 2014 is the belief that only a will, highly motivated by compassion can direct science towards intelligent innovations that convert today’s expensive medical discoveries into affordable solutions.
To make this possible, a strategy was developed to seamlessly incorporate a high-tech hospital with translational research facilities, medical outreach & compassionate care programs and technology development capabilities, into a highly interactive ecosystem. The idea is to create a new hospital culture where every health-worker has ready access to resources for guided innovation at multiple levels.
The Mazumdar Shaw Medical Center (MSMC), a unit of Narayana Health, with the Mazumdar Shaw Center for Translational Research (MSCTR), Mazumdar Shaw Cancer Outreach Program (MSCOP) and International Center for Innovation, Technology-Transfer & Entrepreneurship (InCITE), the Technology Business Incubator (TBI unit) are the current 4 pillars of the Mazumdar Shaw Medical Foundation ecosystem.