25 June 2020 | News
From a list of 31 aspirants, two start-ups have been chosen to receive technical & financial assistance
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C-CAMP and Applied Materials India Private Limited (Applied Materials India) announced financial and technical support to two biotech start-ups in order to fast-track near-to-market technologies in the battle against COVID-19.
The two start-ups, Coeo Labs and Biomoneta, incubated under the Centre for Cellular and Molecular Platforms (C-CAMP), an initiative of the Department of Biotechnology (DBT), and were chosen by C-CAMP’s COVID-19 Innovations Deployment Accelerator (C-CIDA) launched on 25th March 2020 to identify and help accelerate near deployment-ready solutions that have the potential to fight the pandemic.
C-CIDA received more than 1100 innovation submissions and after a rigorous assessment, selected 31 innovations that have high potential to help battle against COVID-19 as C-CIDA Stars for Impact. With this, C-CIDA has built a diverse portfolio of innovations ranging from diagnostics and novel therapeutic approaches to air and surface sanitization and many more categories.
Of the 31 innovations identified as “C-CIDA Stars for Impact”, Applied Materials India selected two start-ups working in the following high-priority areas:
The Applied Science & Technology Research Accelerator (ASTRA) provided an avenue for multiple start-ups incubated by C-CAMP to explore potential collaborations and/or investments with Applied Materials India. In continuation of these efforts and to help battle the COVID-19 crisis, Applied Materials India will provide technical expertise and financial assistance to C-CIDA, Coeo Labs and Biomoneta.
Speaking on the funding, Srinivas Satya, Country President and Managing Director, Applied Materials India said, “It is heartening to see the passion start-ups bring to our nation’s battle against COVID-19. Many of these entrepreneurs have brilliant solutions and need help bringing the technology to scale. As a company with deep technical expertise and a long history of supporting our communities, we believe we must do all we can to accelerate the development of innovations that can strengthen the country’s response to COVID-19. In a time when infrastructure is a challenge and access to medical relief is limited, we are pleased to collaborate with indigenous start-ups that can help pave the way to a healthier future in India.”