- Honeywell’s CSR foundation joined hands with IISc’s Society for Innovation and Development to encourage deep science entrepreneurship and scientific innovations
- Startups like Dfine Bio-innovations, HEM Dimensions, Open MedLabs and 14Si Silicon Solutions are supported by Honeywell and are incubated at IISc-SID
Leading automation solutions provider, Honeywell recently announced that Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell, has partnered with IISc’s Society for Innovation and Development (SID) to continue supporting deep-science startups to encourage entrepreneurship and scientific innovations in society. With this initiative, the company aims to bridge the gap that startups face between incubation and early seed investments. It is noteworthy that Honeywell partnered with IISC –SID in 2019 to support the science and technology startups and Entrepreneurship-in-residence program (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 a part of Honeywell’s Start Up Support Program, this initiative is aimed at increasing collaboration between industry and a variety of technology-based start-ups in furthering innovations for successful outcomes.
Honeywell picked the startups 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 pressing needs in healthcare and environment. Most of the startups funded by Honeywell’s CSR arm HHSIF in the past years are led by either women or teams that are from underprivileged communities.
Chief Executive at SID, Prof B Gurumoorthy noted, “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.”
The professor pointed out that 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. last year. MagHeals, IndiaSpeaks Research Labs, Dfine Bio-Innovations, and HEM Dimensions are a few of the startups that will be funded this year,” he added.
Supported by Honeywell, the following startups are incubated at IISc-SID this year: Dfine Bio-innovations, HEM Dimensions, Open MedLabs, 14Si Silicon Solutions, Nature Wrks Technologies, Ikshana Medical, Reti Ecotech, IndiaSpeaks Research Labs, MagHeals Pvt Ltd.
Pooja Thakran, Director-HHSIF, remarked, “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.”
A leading provider of integrated automation and software solutions, Honeywell Automation India Limited (HAIL) was incorporated in India in 1984 and its registered office is in Hadapsar, Pune. Its product portfolio includes environmental and combustion controls, and sensing and control. Honeywell Hometown Solutions India Foundation (HHSIF) is a not-for-profit organization that deploys Honeywell’s corporate social responsibility (CSR) efforts in three critical areas of education, sustainable development, and Humanitarian Relief.
Located in Bengaluru, Karnataka, IISc is a trust registered under the Charitable Endowments Act, 1890, a deemed to be University and an autonomous institution funded by the Indian education ministry for higher education and research in science, engineering, design, and management. SID was set up in 1991 in close collaboration with IISc, to use its knowledge, world-class infrastructure and talent to help business enterprises and thereby the economy and the nation at large.
