Honeywell India Catalyzes Innovation by Financing Deep Science Start-ups in Collaboration with IISc

Honeywell India is advancing innovation by backing deep science start-ups through a collaboration with IISc. Prioritizing sectors like agri-tech, clean-tech, health-tech, and green-tech, Honeywell has provided funding totaling ₹2.4 crores in FY23-24 to eight start-ups and five entrepreneurship-in-residence programs. Over the past four years, they’ve supported 37 Indian start-ups, extending capital worth ₹9 crores.

Through this partnership, Honeywell offers seed funding and research support to start-ups addressing environmental, agricultural, and health challenges. The collaboration facilitates access to cutting-edge facilities, industry connections, and a global network of investors and stakeholders.

In FY23-24, Honeywell and IISc supported health/med-tech companies like Papyrus Diagnostics Private Limited, Akumen Artificial Intelligence, and Hoyasan Labs Pvt Ltd, among others, along with agri-tech and clean-tech start-ups.

Ashish Modi, President of Honeywell India, emphasized their commitment to fostering deep science research to boost the innovative capabilities of these businesses. With plans to onboard 10 new start-ups in the coming fiscal year, Honeywell and IISc aim to nurture a thriving ecosystem for these companies, creating tangible societal impact.

One notable start-up supported by this collaboration is ‘AI Highway,’ which offers cost-effective cardiac disease screening systems leveraging advanced signal processing and AI. Additionally, Dfine Bio Innovations Pvt Ltd, a Medtech start-up backed by Honeywell, has developed an indigenous hemostasis system named FibriTimer Zeta-1, aiding clinicians in understanding bleeding and thrombosis events.