Pfizer to invest Rs 25 lakh each in six healthcare startups

Pharma company Pfizer has announced that it will partner with the National Institute of Pharmaceutical Education & Research to incubate six healthcare startups with an investment of Rs 25 lakh each.

Source: AP

The initiative is supported by the department of pharmaceuticals and Niti Aayog, and anchored by Social Alpha.

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The company said the partnership would follow a cohort-based approach, through which six startups would be selected from across India and incubated at NIPER.

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In addition to the Rs 25 lakh investment, each of these startups will receive incubation support in the areas of product development, regulatory pathway, pre-clinical testing.

Source: Freepik

The collaboration will seek to support healthcare startups in turning their ideas into market-ready solutions while reaping benefits from NIPER Ahmedabad’s innovation ecosystem in medical devices

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Through the partnership, Pfizer will expand on its INDovation programme, through which the company has so far supported the funding and development of 34 startups.

Source: Freepik

The company collaborated with Atal Innovation Mission, NITI Aayog, Social Alpha, FITT, IIT-Delhi, AGNIi, and the UN Health Innovation Exchange, among others, to launch the INDovation Programme in 2022

Source: Unsplash