Honeywell partners with IISc to fund startups solving societal problems

Multinational conglomerate Honeywell has partnered with the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) to support deep science startups with societal impact. 

To begin with, the technology company will be funding six startups incubated at SID, namely Azooka Labs, Siamaf Healthcare, Protein Design, Mimyk Medical Simulations, HealthSeq Precision Medicine, and PathShodh Healthcare creating solutions in the fields of biotechnology, healthcare and nanotechnology.

“We see this partnership as a path to fostering a vibrant startup ecosystem, driving innovation to solve societal challenges, and opening up pathways for job creation and economic stimulation,” said Akshay Bellare, president, Honeywell India.

Some of these startups are also working towards Covid-19 solutions, including building a new class of eco-friendly specialty fluorescent dyes and a rapid point-of-care diagnostics test for use in low resource settings. 

“At SID we are well positioned to nurture and grow startups by providing access to the right technology, lab infrastructure, seed funding, mentoring and human capital. We are hopeful that this collaboration with Honeywell will encourage more corporates to support technology incubation through CSR funding,” said B Gurumoorthy, chief executive, SID.