GE Healthcare & IIT Madras ink 3-year R&D pact to accelerate innovation for a healthier India
Wednesday, January 29, 2014
GE Healthcare, the US$ 18 billion healthcare business of General Electric Company and Healthcare Technology Innovation Centre (HTIC), a multi-disciplinary R&D centre of IIT Chennai have entered into a three-year collaborative research and development agreement for innovating a range of disruptive and affordable healthcare solutions. GE will provide a grant of Rs.75 lakh to HTIC towards research and development of these disruptive solutions that can benefit all emerging markets.
This initiative will address the unmet and unvoiced needs in the areas of mother and child health, cardiology and cancer. The collaboration will encourage “open innovation” and leverage co-creation of solutions with the involvement of multiple stakeholders such as academia, start-ups, governments, NGOs and clinicians to achieve these goals.
Commenting on the partnership, Terri Bresenham, president & CEO, GE Healthcare, South Asia, said, “We at GE Healthcare are at work for a healthier India through development of innovative and affordable technology solutions. Accelerating innovation for affordable healthcare requires an ecosystem of partners and collaborative efforts by all stakeholders. We firmly believe that the ideas and innovations developed by the next generation of researchers will be an added benefit to the healthcare ecosystem. This collaboration between HTIC and GE Healthcare will bring together start-up dynamism and corporate scalability to healthcare innovations while putting the unserved customer at the centre of healthcare innovation.”