The partnership between Honeywell’s philanthropic arm and the Indian Institute of Science (IISc)’s Society for Innovation and Development (SID) is set to extend the scope of its support programme for deep science startups.
This year, the ongoing startup support programme by Honeywell Hometown Solutions India Foundation (HHSIF) and SID will back startups in areas as diverse as nanotechnology in cancer treatment, language technology tools and conversion of textile waste to construction material.
The programme aims to bridge the gap that startups face between incubation and early-seed investments, and facilitates partnerships between industry and technology-based start-ups.
It has, since 2019, supported close to 30 startups, most of them led by either women or teams from the underprivileged communities, a statement said on Monday.
SID chief executive Prof B Gurumoorthy said support to deep science startups is inadequate and one of the reasons is the lack of understanding of the “diverse and complex” underlying science and technology.
“SID and HHSIF will work together to provide startups with the necessary support and resources to thrive. HHSIF will provide seed capital, while SID will provide infrastructure and technical support,” he said.
Pooja Thakran, director, HHSIF, said support to these startups help fostering the next generation of game-changing technologies to address pressing health and environmental challenges.