Hyderabad: With an aim to provide a platform, which can enable aspiring entrepreneurs to test their innovative ideas in the field of medical technologies, the Government of Telangana and MedTechConnect, a platform founded by Cyient and Xynteo’s India2022 coalition have joined hands together to launch a new initiative called Project Tej.
As part of BioAsia 2020, Asia’s largest Biotechnology and Life-sciences forum, Telangana State’s Research and Innovation Circle of Hyderabad (RICH) and MedTechConnect have signed a Memorandum of Understanding (MoU) to accelerate and support the indigenous innovations in medical technologies.
Through Project Tej, medical technology innovators and device manufacturers can validate the usability of their devices in public health settings and gain access to public health channels. Project Tej testbeds will complement Telangana State’s infrastructure projects, which include the Telangana MedTech Park and ensure that Telangana becomes a favorable destination for MedTech investments.
“Telangana State is now synonymous with innovation and technology. With this initiative, we want to use the expertise available in the State to ensure ground-breaking medical technologies can deliver quality healthcare for all,” says Ajit Rangnekar, director general, RICH.
Project Tej will accelerate the adoption of indigenous and cost-effective innovations in medical technologies in India’s public health systems. This will be done by bringing together an alliance of industry, hospitals, startups, and ecosystem builders in the MedTech space.
“Implementation of Project Tej will help provide real-world access for companies to test and commercialise their technologies. We hope this creates an encouraging environment for local startups to bring their products to the market,”says Dr BVR Mohan Reddy, executive chairman, Cyient.
These testbeds will give MedTech innovators access to real-world clinical settings for faster validation of innovative, affordable technologies and also provide access to industrial networks and markets.
The primary focus of Project Tej is to launch testbeds for large scale clinical validation, usability assessment, and business model evaluation in real-world clinical settings for late-stage medical technologies, provide structured mentoring from the industry on design, manufacturing, and commercial access, and facilitate market access to validated technologies in public and private healthcare channels.
Project Tej, a programme managed by MedTechConnect, has the support of over 25 institutions across India. On behalf of Telangana State, Research and Innovation Circle of Hyderabad and MedTechConnect partners Cyient and Xynteo have helped shape this initiative and are key partners in Project Tej.
“Innovations are usually born out of necessity, and MedTech innovations can solve some of our most challenging healthcare issues. We need collaboration to drive these innovations to market and we invite support from Telangana State’s medical and technological fraternity to ensure the success of this endeavor,” says Subhashini Chandran, MD, Xynteo India.
17th edition of BioAsia 2020 ends on high note
BioAsia, Asia’s largest Biotechnology and Life Sciences Forum and the three-day global bio-business convention on its third and last day on Wednesday concluded with a huge participation from industry, government, academia, and startups being part of the insightful deliberations and discussions on pharma, biotechnology, healthcare and life sciences industries.
The 17th edition of the annual flagship event of Government of Telangana, BioAsia, has witnessed the participation of around 2,100 delegates and visitors representing 37 countries. More than 100 high profile speakers and 800 corporates including 350 CXOs also participated in this summit. A record number of 2,000 partnership meetings held during the 3-day event which may lead to striking the strategic business deals in the near future.
Speaking at the valedictory session at BioAsia 2020 on Wednesday, Telangana Industries Minister KT Rama Rao said, the global bio-business forum has received an overwhelmed response from the delegates who have come across 37 countries and being actively participated in the wonderful global convention.
‘I will look forward to see BioAsia 2021 which will eventually be even bigger and better’, he added.
Ashok Chandra Panda, Minister for Science and Technology, Government of Odisha graced as Guest of Honour of the event.
During the valedictory session of BioAsia 2020, Jayesh Ranjan, principal secretary, Industries and IT, Government of Telangana said, “The 17th edition of BioAsia 2020 has witnessed an overwhelming response from the delegates who have participated in record numbers. The constant increase in participants signifies the importance of BioAsia among the leaders from global life sciences sector to collaborate and network towards the successful strategic partnerships with individuals and the companies across the globe. With this successful edition, BioAsia has so far witnessed a total of 18,000 number of business meetings while delegates participated from over 100 countries and we believe this trend will be continued further”.
During her speech, Swati Piramal suggested the Telangana government to prepare 1 million girls well in science and math to join the life sciences industry to take this industry and the country forward as the state is a big pharma and biotech hub which offers tremendous opportunities for the women who can pursue their career in the male dominated industry.
As part of BioAsia 2020, Intel has announced its ‘Intel AI Applied Research Centre’ in Hyderabad and KT Rama Rao officially inaugurated its centre from the dais of the global convention.
Minister also handed over land allotment letters to five companies – Jagore Life Sciences Pvt Ltd, Majik Medical Solutions Pvt Ltd, Arni Medica Pvt Ltd, Trident Technologies and Pulse Pharmaceuticals – which are going to setup their units in MedTech Park in Hyderabad.
Five startups win awards
As a part of the valedictory programme of BioAsia 2020, KT Rama Rao, Minister for Industries, Commerce and IT, Government of Telangana handed over startup awards, including a cash award, to five successful start-up companies selected from over 75 shortlisted companies and over 350 applications received.
As part of the Start-up stage event, top five start-ups including Lycan 3D, Callzy, Oncosimis Biotech, Heamac Healthcare, Flexmotiv Technologies were given an opportunity to showcase their innovative solutions that may likely bring in disruptions in the life sciences sector.