DPIIT Inks Mous With Pfizer & ICICI Bank To Support Startup Ecosystem

2025-09-05 02:16:01

(MENAFN- KNN India) New Delhi, Sep 5 (KNN) The Department for Promotion of Industry and Internal Trade (DPIIT) has entered into separate agreements with Pfizer Limited and ICICI Bank to expand support for startups across healthcare, technology, and innovation-driven sectors.

The partnership with Pfizer focuses on advancing India's healthcare innovation ecosystem through the Pfizer INDovation programme.

The initiative will provide DPIIT-recognised startups with grants of up to Rs 60 lakh each, alongside an 18-month incubation programme delivered by Social Alpha.

It includes acceleration tracks for clinical validation, regulatory clearances, and go-to-market strategies. Startups will also gain mentorship, infrastructure access, and exposure at Pfizer's R&D facilities in Chennai.

Fourteen MedTech startups working in areas such as diagnostics, health monitoring, oncology, non-communicable diseases, maternal and child health, and immunisation are expected to benefit.

In parallel, DPIIT's MoU with ICICI Bank aims to strengthen financial and institutional support for entrepreneurs.

ICICI Bank will launch a Startup Engagement Programme through the Startup India portal, providing access to its accelerator facility in Mumbai.

Selected startups will receive mentorship, workspace, and opportunities to pilot projects with ICICI Bank business units.

The programme will also connect entrepreneurs with venture capital firms, investors, and prospective clients, along with offering sector-focused workshops and innovation showcases.

DPIIT Joint Secretary Sanjiv said the partnerships underscore the government's commitment to fostering innovation-led growth, highlighting the role of startups in advancing drug discovery, healthcare, and broader industrial development.

Sharad Goswami, Senior Director – Global Policy and Public Affairs at Pfizer India, reaffirmed Pfizer's support for patient-centric healthcare solutions tailored to India's needs.

ICICI Bank noted the collaboration is designed to create lasting impact through structured engagement and growth opportunities for early- and mid-stage ventures.

(KNN Bureau)

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