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Dr Moopen’s Medical College (previously known as DM Wayanad Institute of Medical Sciences) has received approval from the Biotechnology Industry Research Assistance Council (BIRAC) to set up an incubation facility under the Bio incubators Nurturing Entrepreneurship for Scaling Technologies (BioNest) Scheme.
BioNEST is a dedicated scheme supported by the BIRAC to create globally competent bio-incubation facilities to undertake strategic research and innovation.
Dr Moopen’s Medical College BioNEST (DMMC BioNEST) will focus on healthcare technologies involving Biotech, Biomed, Internet of Things (IoT) and Artificial Intelligence (AI), Digital Health, Healthcare Economics/Management, Block Chain and Bioinformatics.
DMMC BioNEST is equipped with DSIR2 recognised Biomedical Research Laboratory with specialised facilities and a small animal laboratory and is supported by a hospital information system, laboratory, information system, PACS, Digital Health Databank and clinical simulation lab. A space of 11,000 sq ft has been dedicated for the incubation facility, and the expected project cost is Rs6.5 crore.
In Phase 1 (3 years) DMMC BioNEST plans to support ten startups as physical incubates, 5-10 startups as Virtual Incubates and three startups from the BIRAC network for field validation every year in the areas of Digital Health, Healthcare and Biomedical Technology development. It is anticipated that at least 30 startups will get successfully incubated in the BioNEST, and a few of them will graduate as successful exits with indigenously developed innovative technologies at the end of Phase 1.
Currently, indigenous healthcare technology is lacking in the country, and many products are being imported. As per the recent estimates, India imports nearly 80 per cent of its medical devices and remains highly dependent on imports for many high-end medical equipments. Many imported technologies are not customised for the Indian population, and therefore, are unsuitable for use directly.
Azad Moopen, Founder Chairman and Managing Director of Aster DM Healthcaresaid, “We are in the midst of an era of great innovation, with an ever-expanding healthcare modality, spawning development of exciting new technologies and therapies. Today’s ecosystem for innovation is vibrant with symbiotic relationships between Industry & Academia, backed by government support. There is opportunity for many of the start-ups to utilize the platform and foster bio-entrepreneurship. The DMMC BioNest Incubator will inculcate research and innovation for translating innovations into commercial products and technologies and reduce lab to market time, helping the start-ups to be on their own feet.”
Moopen added, “DMMC BioNEST will provide a platform to young aspirants from Medical, Engineering, Pharma, Veterinary, Biotech background and startups oriented towards healthcare technology to collaborate for Incubator Mentorship and Co-Development & Training with centres within Kerala and outside.”
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