NEWS – Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell (NASDAQ: HON), in partnership with the Foundation for Science, Innovation and Development (FSID), Indian Institute of Science (IISc), renowned for its cutting-edge deep sciences research, has extended research and financial support to 37 Indian start-ups

HIGHIGHTS

Financial Support and Initiatives

• Seed Funding Allocation: ₹9 crores extended over four years, with ₹2.4 crore in FY23-24 to eight start-ups and five Entrepreneurship-in-Residence programs.
• Future Plans: Aims to onboard 10 new start-ups in the current fiscal year
• Scope of Collaboration: Focuses on agri-tech, clean-tech, health-tech, and green-tech start-ups

Objectives and Impact

• Addressing Critical Challenges: Supports start-ups addressing environmental, agricultural, and health challenges through deep science research.
• Synergy with IISc: Provides access to state-of-the-art facilities, industry and government connections, and a global network of stakeholders.

Industry Focus and Supported Companies

• Health/Med-Tech: Beneficiaries include Papyrus Diagnostics, Akumen AI, Hoyasan Labs, Cellsion Technologies, and Easescan MedTech.
• Agri-Tech and Clean-Tech: Supported start-ups like Kaiza Tech, Green Collar Agritech, and Mushloop Pvt Ltd.

Encouraging Innovation and Research

• Encouraging Deep Science/Tech: Focus on fostering innovative research that addresses societal challenges.
• Impactful Solutions: Example of ‘AI Highway’ offering cardiac disease screening using advanced signal processing and AI capabilities.