IISc and Honeywell Joined Hands to Fund Deep Science Startups & Boost Innovation

Content Curator | Updated On - Apr 23, 2024

Honeywell and IISc partnership will help startups with funding and making connections with industry stakeholders including venture capitalists and micro, small, and medium enterprises.

IISc and Honeywell Joined Hands to Fund Deep Science Startups

New Delhi: As per the latest updates, the Honeywell Hometown Solutions India Foundation (HHSIF) has joined hands with the Foundation for Science, Innovation, and Development (FSID) of the Indian Institute of Science (IISc) to fund deep science startups.

As a part of this collaboration with the Indian Institute of Science, Honeywell will provide its support and funding to startups focused on deep science domains and analysis of challenges faced by agriculture, environment, and health.

In addition to this, Honeywell and IISc will provide state-of-the-art facilities as well as global networks and connections with industry stakeholders to help startups grow their ventures.

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Key Highlights of Honeywell's Partnership with IISc

The IISc and Honeywell’s collaboration will help startups connect with venture capitalists, High Net Worth Individuals (HNIs) as well as Micro, Small & Medium Enterprises (MSMEs) in India. So far, Honeywell has provided support and funding of INR 2.4 Crores to startups and entrepreneurs in the financial year 2023-24.

With this step, startups aimed at health care will be provided with funding and support in the financial year 2023-24. These benefits are extended to startups like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, Hoyasan Labs Pvt Ltd, Cellsion Technologies Pvt Ltd, and Easescan MedTech Private Limited.

Views on Honeywell and IISc Partnership

Informing about the collaboration with IISc, Mr Ashish Modi, President, of Honeywell India said, "Together, with IISc, we are cultivating a fertile ecosystem for these companies, making a tangible impact on society”.

Adding to the statement, Prof B Gurumoorthy, Director of FSID and Professor at IISc said, “Honeywell has been an outstanding partner for us in this journey providing the much-needed capital and intellectual support to our entrepreneurs in furthering their journey. Jamsetji Tata remarked that “what advances a nation or a community is to lift the best and the most gifted, to make them of the greatest service to the country”.

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