Research and Innovation Circle of Hyderabad announces accelerator for diagnostics start-ups

The Research and Innovation Circle of Hyderabad (RICH), represented by research and development, and academic institutes in the public and private sectors, has announced an exclusive acceleration programme for start-ups in the diagnostics space.

Called Acceleration Initiative for Diagnostics (AID), the programme plans to handhold start-ups in the niche area.

Start-ups, entrepreneurs, researchers and academic institutions in the diagnostics sector are can apply to join the accelerator, with a proof of concept, by February 17.

“We would like to help diagnostic start-ups tap their potential. We are inviting applications for the AID programme,” said Ajit Rangnekar, Director-General of RICH. “The diagnostics services industry in the country is expected to grow at a compound annual growth rate of about 16 per cent, exceeding ₹1-lakh crore by 2022..

“The Covid-19 pandemic has provided a boost to this market, with companies experiencing surging demands for technologies ranging from telemedicine to rapid testing kits. The post-Covid world provides a unique opportunity for start-ups to solve several problems in the health and medicare areas.”

The start-ups selected for AID would be mentored by an expert panel of entrepreneurs, scientists, inventors and innovators. Institutes such as the Centre for Cellular and Molecular Biology (CCMB) will also support the initiative.