Honeywell partners with SID at IISc to support startups with societal impact

Honeywellannounced on Tuesdaythat it has partnered with the Society for Innovation andDevelopment (SID) at the Indian Institute of Science (IISc) tosupport deep science startups with societal impact.

The partnership opens up opportunities to support startupventures working on science and technology projects notrelated to the companys core areas of work, but intended toaddress large, societal problems, a Honeywell statement said.

Honeywells corporate social responsibility (CSR)contribution would also target needs relating to COVID-19,including building a new class of eco-friendly specialtyfluorescent dyes and a rapid point-of-care diagnostics testfor use in low resource settings, it said.

President of Honeywell India, Akshay Bellare was quotedas saying: “As a responsible corporate citizen, we see thispartnership as a path to fostering a vibrant startupecosystem, driving innovation to solve societal challenges,and opening up pathways for job creation and economicstimulation.” Professor B Gurumoorthy, Chief Executive, SID, said, “AtSID we are well positioned to nurture and grow startups byproviding access to the right technology, lab infrastructure,seed funding, mentoring and human capital.

We are hopeful that this collaboration with Honeywell,which is a leading technology company, will encourage morecorporates to support technology incubation through CSRfunding.” Honeywell said its funds have been deployed to supportsix startups — Azooka Labs Private Limited, Siamaf HealthcarePrivate Limited, Protein Design Private Limited, Mimyk MedicalSimulations Private Limited, HealthSeq Precision MedicinePrivate Limited and PathShodh Healthcare Private Limited — tobegin with.

Honeywell and SID are currently evaluating a new crop ofstartups to support, the statement added.

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