The IIPME will directly target innovations in the medical electronics start‐ups
The Biotechnology Industry Research Assistance council (BIRAC) has announced the launch of the Industry Innovation Program on Medical Electronics (IIPME) with an aim to promote and foster cutting edge technologies in the field of Medical Electronics.
BIRAC through its various flagship schemes is making significant investments in the medical devices sector and hence, promoting the R&D of medical devices.
The IIPME will directly target innovations in medical electronics start‐ups, SMEs and large enterprises and will also help in generating the ideas to keep ready the pipeline of new unmet medical Innovations.
To achieve the desired impact the IIPME will fund the innovations in three categories Seed Grants (Idea to PoC), Early Transition, Transition to Scale. The Expression of Interest (EoI) and further the proposals received under the three phases will undergo a rigorous screening process which will shortlist and evaluate the proposed innovation. The proposals will be evaluated online by the area review panel comprising of experts from various academic institutes.
The shortlisted proposals will be called for presentation to the Technical Screening Committee at BIRAC and will be further screened. The shortlisted projects will be evaluated in detail by the technical and financial due diligence team at the company site and the projects which will clear all these phases will be finally approved for funding by the Apex approval board.