Honeywell Supports Deep Science Startups and Tech Innovations with IISC’s SID

Gurgaon, India and Charlotte, US – Honeywell International Inc recently announced the Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell, in partnership with Indian Institute of Science (IISc)’s Society for Innovation and Development (SID), will continue to support deep-science startups to encourage entrepreneurship and scientific innovations to support society. The objective of the initiative is to bridge the gap that startups face between incubation and early seed investments.

This initiative is a part of Honeywell’s Start Up Support Program, which has been running for the last few years. The initiative also helps to increase collaboration between industry and technology-based start-ups in furthering innovations for successful outcomes. The startups supported through the program range from highly advanced healthcare start-ups like Azooka Labs, HealthSeq Precision Medicine, Equine Biotech, Protein Design, Siamaf Healthcare, Mimyk Medical Simulations, PathShodh Healthcare, and Theranautilus to those in the sustainability space like Openwater.in, etc. Close to 30 startups have been funded by Honeywell’s CSR arm HHSIF in the past years. Most of these startups are led by either women or teams that are from underprivileged communities. These startups are focused on finding solutions in the fields of biotechnology, healthcare, and nanotechnology that have the potential to offer advanced scientific solutions to some of the most pressing needs in healthcare and the environment.

Honeywell partnered with IISC–SID in 2019 to support science and technology startups and Entrepreneurship-in-Residence (EIR) programs with specific support to entrepreneurs who have the potential to offer solutions that can significantly address societal issues and challenges in healthcare and the environment. As we celebrate the International Day of Women and Girls in Science on February 11, 2023, Honeywell and IISc-SID salute women in science from across the world who have been paving the way for a better world through their contributions.

The startups supported by Honeywell and incubated at IISc-SID this year include MagHeals Pvt Ltd (Founder: Shilpee Jain & Rajesh Katoch); IndiaSpeaks Research Labs (Dr Madhavaraj, Sasidharan, Dr Ganesh, Prof N Viswanadham, Lt Col Saurabh Sharma); Dfine Bio-innovations Pvt Ltd (Divya Acharya, Afser Shariff, Lokesh Murthy KM, Prathap M); Reti Ecotech (Indrayani Kadu, Jahnavi Rao); 14Si Silcon Solutions Pvt Ltd (Ashutosh Bhabhe, Vipin Hatmode); Ikshana Medical (Komal Shah, Dr Manish Arora); Open MedLabs (Deval Karia, Dr Manish Arora, Neha Bhatia); Nature Wrks Technologies (Lakshminath Kundanati, Ankur Kulkarni); and HEM Dimensions Pvt Ltd (Hemang K Jayant, Dr Manish Arora).

Prof B Gurumoorthy, Chief Executive, SID, said, “Deep Science startups are problem-oriented and map to at least one of the sustainable development goals. Support for such ventures is inadequate, and one of the reasons is the lack of understanding of the underlying science and technology, that tends to be diverse and complex. Honeywell and HHSIF have recognized the need to support such startups, and we are delighted with their continuing financial support. SID and HHSIF will work together to provide startups with the necessary support and resources to thrive. HHSIF will provide seed capital, while SID will provide infrastructure and technical support. This year, Honeywell’s CSR grant has helped nine startups and three EIRs in diverse areas such as energy, water, medtech, packaging materials, etc. MagHeals, IndiaSpeaks Research Labs, Dfine Bio-Innovations, HEM Dimensions are a few of the startups that will be funded this year.”

Honeywell aims to increasingly involve experts from the company in mentoring the startups, building their capacities, and helping them scale up. Pooja Thakran, Director, HHSIF, stated, “Deep science startups are the engine of innovation, and they are critical to shaping the future. By supporting these startups, we are able to tap into the boundless potential of the research ecosystem and support the development of solutions through premier research institutes like IISc in our country. By funding these startups, we are fostering the next generation of game-changing technologies that will address some of the world’s most pressing health and environmental challenges. Through this, we hope to give initial support to the deserving innovators who have the potential to make a lasting impact on society.”

Image Source: Honeywell International Inc