Department for Promotion of Industry and Internal Trade (DPIIT) today signed a Memorandum of Understanding with Pfizer Limited. In a statement, the Ministry of Commerce and Industry said that the collaboration will accelerate the lab-to-market journey of innovative healthcare products by extending financial and non-financial support to startups. It said that under the partnership, the Pfizer INDovation program will empower DPIIT-recognized startups with grants of up to 60 lakh rupees each for a tailored 18-month incubation program.
The program will provide Startups access to expert mentorship, infrastructure, and global networks, in addition to exposure at Pfizer’s Research and Development facilities in Chennai, enabling them to strengthen innovations with advanced industry insights.
The initiative will support 14 MedTech startups innovating in screening, diagnostics, health monitoring, and treatment enablers, with a focus on non-communicable diseases, oncology, brain health, maternal and child health, and immunisation.