Pfizer, IIT-Delhi collaborate for healthcare incubation

New Delhi: Pfizer and IIT-Delhi on Tuesday said they have launched an incubation accelerator initiative at the later's campus for Indian startup companies as well as individuals.

Christened "The Pfizer IIT-Delhi Innovation and IP Program", it comprises two components.

For innovators seeking comprehensive support to translate their healthcare ideas into patents, the programme will provide two years of residential incubation at IIT-Delhi, funding of up to Rs.50 lakh for each innovator, mentoring support from IIT-Delhi's faculty, access to infrastructure and prototyping laboratories, IP search and filing services, guidance from Pfizer's global experts, and access to venture capitalists and other industry linkages.

For innovators who already have a ready proof of concept and are seeking to obtain a patent, the programme will provide access to IP attorneys and services and cover the patent fee.

The programme will invite two rounds of proposals during 2015-2016. Call for proposals for the first round will open from November 27 until January 15, 2016.

An independent panel of subject matter experts will review and shortlist the potential incubates while the Technology Business Incubator Unit board at IIT Delhi will make the final selection of individuals and startups.