Honeywell Hometown Solutions India Foundation (HHSIF), the philanthropic arm of Honeywell India, has partnered with the Foundation for Science Innovation and Development (FSID) at the Indian Institute of Science (IISc), Bengaluru, to support deep science startups. These startups are focused on creating innovative solutions in critical sectors like agriculture, healthcare, and renewable energy.  HHSIF has extended research and financial support to over 40 Indian startups and nine entrepreneurs-in-residence (EIRs) through this collaboration. In the fiscal year 2023-24, HHSIF backed 13 innovations, comprising eight startups and five EIRs. Fifty percent of the supported ventures were in medtech, and 20 percent were in agritech. For FY24-25, HHSIF plans to support seven startups and one EIR in related sectors.  

B Gurumoorthy, CEO, FSID and Professor,IISc, highlighted the challenges faced by deep science startups in accessing funding. "These ventures need significant time and resources to reach market readiness. While incubators can provide space and support, funding is a major bottleneck," he said. "Honeywell has been steadfast in their support, providing direct funding to the startups, which is crucial in the early stages of their journey."

 In addition to financial support, HHSIF offers research assistance, technology, and human capital, along with access to a global network of high-net-worth individuals (HNIs), venture capitalists (VCs), and micro, small, and medium enterprises (MSMEs).  

Prashanth Balarama, Senior Director-Communications and Corporate Social Responsibility, Honeywell India, emphasised the company's commitment to supporting startups with global impact. "There is no commercial motive in our collaboration with these startups; it is solely aimed at sharing technology and knowledge," he stated.  

One of the startups benefiting from this initiative is Translead MedTech, founded by Manoj Kumar R. The company addresses challenges faced by elderly individuals, including critical joint problems, with innovations such as a specially designed chair that facilitates a better 'stand-to-sit' and 'sit-to-stand' experience.  

Another supported startup, Open MedLabs, founded by Neha Bhatia, Manish Arora, and Deval Karia, develops affordable medical devices for chronic conditions like diabetes. Their goal is to provide effective solutions to over 6.5 million insulin-dependent diabetics across Southeast Asia within the next decade.  In the agritech space, Green Collar Agritech Solutions leverages deep tech to enhance agricultural and food processing productivity. Their first product, TARAM, uses Near Infrared Spectroscopy and machine learning to assess turmeric quality, helping farmers make better pricing decisions.

Additionally, Rait Setu empowers small farmers through tech-enabled agriculture and sugarcane-to-jaggery processing, boosting farmer incomes and creating village jobs.  

NatureWrks, focusing on reducing plastic packaging waste, and Openwater, which simplifies water treatment, are two other startups supported through this programme. Both aim to address critical environmental and public health issues.  This collaboration between Honeywell and IISc is a significant step toward advancing India's deep science and tech startup ecosystem, driving innovations that have the potential to create a lasting impact on society.

(Business Standard)