STPI MedTech established in Lucknow aims for Rs 10,000 Cr market creation

New Delhi: Amid the clarion call given by the Hon’ble PM to use these trying times in the wake of the Covid-19 pandemic to become  Atmanirbhar  (self-reliant), The Software Technology Parks of India (STPI) soft launched MedTech – A Center of Excellence in Lucknow to promote research and startups in the fields of medical electronics and health informatics and also introduced an Open Challenge Program on 14th August 2020.

MedTech CoE at Lucknow is being set up by STPI & MeitY in collaboration with Sanjay Gandhi Post Graduate Institute of Medical Sciences (SGPGI), Lucknow, Department of IT & Electronics (Govt. of UP), Association of Indian Medical Device Industry (AiMED) & Andhra Pradesh MedTech Zone (AMTZ).

Spread over a built-up area of 18,000 sq ft, the Centre of Excellence (CoE) costing Rs. 22 crores (22 million) will nurture 50 startups over a period of five years, stimulating R&D in medical electronics and health informatics while facilitating an entrepreneurial ecosystem to promote young innovators to create affordable, high-quality indigenous medical products, drive employment and contribute to the economy. Medtech Software Park is aiming for Rs. 10,000 Cr market creation. STPI MedTech is a significant stride in enabling Indian healthcare to empower their patients. The core objective of the CoE is to catalyse the transformation of the Life sciences & Healthcare industry for accelerated and sustained growth, to capture new business opportunities and markets and building solutions for real world challenges through co-creation programs.

The soft-launch of “MedTech CoE” & “Open Challenge Programme” was done by Ms. Jyoti Arora, Special Secretary and Financial Advisor, MeitY-Govt of India, and Dr. Omkar Rai, Director General, STPI in the august presence of Shri Rishirendra Kumar, Special Secretary, Department of IT & Electronics, Govt. of UP,  Shri Jitendar Sharma,CEO-AMTZ and Co-Chief Mentor, MedTech,  Shri R.K.Dhiman, Director- SGPGI-Lucknow, Sh. Rajiv Nath, Forum Coordinator-AiMED, Shri Rajneesh Agrawal, Director STPI Noida and Shri Subodh Sachan, Director, STPI HQ.

“This CoE will promote research & innovation and help create innovative products in the medical electronics domain. This CoE will make a lot of difference on the ground and meet the expectations of India at large in the Medical sector. The initiatives taken by STPI will help nurturing start-ups, promoting innovations & entrepreneurship, eventually making India self-reliant ,” envisioned Dr. Omkar Rai, DG, STPI said while delivering keynote address on the launch of MedTech CoE.

“Aatmanirbhar Bharat is aiming at fostering entrepreneurship, nurturing innovation and creation of an ecosystem for rural-urban symbiotic development. MedTech will build a robust ecosystem to harness emerging technologies, foster R&D and innovation and nurture start-ups. There are also massive opportunities for healthcare sector in tele- consultation, AI-based diagnostics and remote healthcare management. India has shown its capability of rapid product development during the #COVID19 pandemic and it has a strong hold in the IT domain, we can build sophisticated software products in the healthcare domain,” stated Mr. Rajiv Nath, Forum Co-ordinator, AiMED.

“We need to be very agile in developing products & launching in the market & this CoE will play a key role in this segment. This Medtech incubator will play a great role in allowing people to do business of science in a very ethical manner,” said Dr. Jitendar Sharma, CEO, AP MedTech Zone & Co-Chief Mentor of STPI MedTech at the soft launch.

“Uttar Pradesh government is promoting medical electronics in a big way & we are launching a new policy very soon,” said Shri Rishirendra Kumar, Special Secretary, IT & Electronics, Govt. of UP.

“85% Import Dependency and over Rs.42000 crore Medical Devices Import Bill forced upon India are some of key reasons why it became necessary to create a system for self-reliance – Aatmanirbhar Bharat. We are glad such initiatives like MedTech CoE will help India in the process to end the huge import dependency and make India a MedTech superpower & global medical devices manufacturing hub.” Added Mr. Rajiv Nath.

STPI MedTech also launches the Open Challenge Program  to encourage startups focused on MediElectronics, HealthInformatics, HealthTech & IoT to showcase their innovation mettle & transform ideas into ground-breaking products.

Apply now:

Support us in our endeavor to bring you Advertisement free content.
Choose your options to donate or subscribe.

Related Articles

Leave a Reply

Back to top button