An initiative to provide open innovation testbeds to accelerate MedTech innovations
HYDERABAD, India, Feb. 19, 2020 /PRNewswire/ -- In order to provide a platform which can enable aspiring entrepreneurs to test their innovative ideas in the field of medical technologies, The Government of Telangana and MedTechConnect, a platform founded by Cyient and Xynteo's India2022 coalition have joined hands together to launch a new initiative called Project Tej. As part of BioAsia 2020, Asia's largest Biotechnology and Life-sciences forum, today Telangana State's Research and Innovation Circle of Hyderabad (RICH) and MedTechConnect have signed a Memorandum of Understanding (MoU) in an endeavour to accelerate and support the indigenous innovations in medical technologies.
Through Project Tej, medical technology innovators and device manufacturers can validate the usability of their devices in public health settings and gain access to public health channels. Project Tej testbeds will complement Telangana state's infrastructure projects, which include the Telangana MedTech Park and ensure that Telangana becomes a favorable destination for MedTech investments. "Telangana state is now synonymous with innovation and technology. With this initiative, we want to use the expertise available in the state to ensure ground-breaking medical technologies can deliver quality healthcare for all," says Ajit Rangnekar, Director General, RICH.
Project Tej will accelerate the adoption of indigenous and cost-effective innovations in medical technologies in India's public health systems. This will be done by bringing together an alliance of industry, hospitals, start-ups, and ecosystem builders in the MedTech space. "Implementation of Project Tej will help provide real-world access for companies to test and commercialize their technologies. We hope this creates an encouraging environment for local start-ups to bring their products to the market," says Dr. BVR Mohan Reddy, Executive Chairman, Cyient.
These testbeds will give MedTech innovators access to real-world clinical settings for faster validation of innovative, affordable technologies and also provide access to industrial networks and markets.
The primary focus of Project Tej is to:
- Launch testbeds for large scale clinical validation, usability assessment, and business model evaluation in real-world clinical settings for late-stage medical technologies
- Provide structured mentoring from the industry on design, manufacturing, and commercial access
- Facilitate market access to validated technologies in public and private healthcare channels.
Project Tej, a program managed by MedTechConnect, has the support of more than twenty-five institutions across India. On behalf of Telangana State – Research and Innovation Circle of Hyderabad and MedTechConnect partners Cyient and Xynteo have helped shape this initiative and are key partners in Project Tej. "Innovations are usually born out of necessity, and MedTech innovations can solve some of our most challenging healthcare issues. We need collaboration to drive these innovations to market and we invite support from Telangana state's medical and technological fraternity to ensure the success of this endeavor," says Subhashini Chandran, Managing Director, Xynteo India.
Cyient (Estd: 1991, NSE: CYIENT) is a global engineering and technology solutions company. As a Design, Build, and Maintain partner for leading organizations worldwide, Cyient takes solution ownership across the value chain to help customers focus on their core, innovate, and stay ahead of the curve. The company leverages digital technologies, advanced analytics capabilities, and its domain knowledge and technical expertise, to solve complex business problems.
With over 15,000 employees globally, Cyient partners with customers to operate as part of their extended team in ways that best suit their organization's culture and requirements. Cyient's industry focus includes aerospace and defense, healthcare, telecommunications, rail transportation, semiconductor, geospatial, industrial, and energy.
About the India2022 Coalition
Xynteo catalysed India2022 - a purpose driven global business coalition committed to leverage the power of collaboration. Launched in March 2017, India2022 was given the blessings of the then, President of India, Shri Pranab Mukherjee who praised the coalition as "the need of the hour". The Coalition is working to unlock a new model of growth, in line with the 75th year of India's independence. Xynteo, together with the Coalition founding partners, The Aditya Birla Group, Hindustan Unilever, Cyient, Shell, GE, Tata Trusts, Tech Mahindra, TechnipFMC, State Bank of India and WPP is committed to advancing practical projects at the intersection of human need and commercial opportunity. The India2022 coalition is harnessing the combined strength of purposeful leaders in the areas of energy, waste, sanitation, healthcare and sustainable mining to support the momentum of growth in the country.