The Gopalakrishnan-Deshpande Center for Innovation & Entrepreneurship (GDC) at the Indian Institute of Technology (IIT) Madras has partnered with the TDK Corporation to launch the TIIC Accelerator Program 2024.
This partnership aims to develop innovative solutions in the Healthcare Technology and Diagnostics sector through Indian STEM university researchers and start-ups, by leveraging India's deep talent pool and creativity to propel breakthroughs in healthcare diagnostics, medical devices, and related areas, says a joint press release from TDK Corporation and GDC.
“This partnership is an important additional step forward in our long-term commitment to contribute to India's ambitious targets for the growth, innovation and transformation of its economy and society,” said Michael Pocsatko, Senior Vice-President of TDK at the Memorandum of Undertaking (MoU) signing.
Highlighting the edge given to start-ups under this programme, Prof Krishnan Balasubramanian, faculty incharge of the GDC shared, “By combining TDK's industry experience with our technical expertise and entrepreneurial development support, we aim to empower Indian start-ups to bring cutting-edge healthcare solutions to market.”
About the programme
The programme will call for applications in June 2024, from which promising start-ups/teams will be chosen.
GDC will then organise an in-person workshop for the shortlisted teams/start-ups at the IIT Madras campus.
The teams will then participate in a six-to-eight-week boot camp focused on consumer discovery.
In the following round, a group of chosen teams will participate in a Business Mentorship programme, which will help them become investment-ready and prepare them for their pitch to TDK to secure funding or explore other potential collaborations.
Segments that the programme would focus on include:
Diagnostic labs/services
Diagnostic devices – imaging devices, therapeutic devices, sensing devices, recording devices, and surgical devices (excluding implants)
Consumables
Advanced materials for medical diagnostics and equipment
Equipment-related services
Wearables
Analytics
Neuroelectronic interfaces
Technologies underlying the above – Sensors, Internet of Things (IoT), 5G, 3D printing, Artificial Intelligence and Machine Learning (AI/ML), Advanced Materials, Generative AI, Telemedicine, Robotics, Augmented Reality/Virtual Reality (AR/VR), and so on