Honeywell (NASDAQ: HON) has partnered with the Society for Innovation and Development at the Indian Institute of Science (IISc), one of India’s top research institutions, through its philanthropic arm, the Honeywell Hometown Solutions India Foundation (HHSIF), to advance deep-science startups in India. Honeywell’s startup Support Program is designed to bridge the crucial incubation-to-seed funding gap by fueling innovation and entrepreneurship in science-orientated startups toward solving societal needs.
Honeywell’s Passion for Deep-Science Innovation
Since the formation of the Honeywell-IISc partnership in 2019, the collaboration has enabled the training of almost 30 startups with a focus on biotechnology, health care, and nanotechnology. What is worth mentioning is that some of these startups had women or persons belonging to less-enforced societies as their leaders. Among the notable winners of this support are Azooka Labs, Theranautilus, and Equine Biotech working toward innovative solutions to address some of the very pressing health and environmental issues. These ventures fall in the sustainable development goals that yield solutions driven by impact across energy, water conservation, and medical technology.
Funding and Industry Collaboration
SID teams up with HHSIF to offer technical support, infrastructure, and seed capital for these start-ups. For the latest round of funding, HHSIF backed nine start-ups and three EIR projects across sectors like MedTech, sustainable packaging, and energy solutions. For instance, Nanotechnology-based Company MagHeals Pvt Ltd has developed a new form of treatment that can reduce side effects associated with anticancer drugs. Another is Reti Ecotech which aims to transform textile waste into very lightweight and tough construction materials while NatureWrks Technologies makes biodegradable packaging to fight plastic waste.
Prof. B Gurumoorthy, Chief Executive at SID stated that deep science startups hold a great deal of importance as they work with complex issues that have always been left out due to technical challenges. Funding by Honeywell, according to him provides the required finances to develop such ventures into viable propositions.
Mentorship and Capacity Building:
Honeywell offers expert mentorship to build capacities in startup teams with the vision to accelerate their readiness for the market. In fact, mentoring helps equip startups to address specific challenges in scaling and to push forward their technological innovations properly. Director of HHSIF Pooja Thakran underlines how support for deep-science startups leverages the research landscape of India and positions itself to drive transformational technology addressing core Global Challenges.
Women in science are also promoted through this program, and support has been extended to the IISc Entrepreneurship-in-Residence program. This creates a conducive environment for underrepresented entrepreneurs developing high-impact solutions. On International Day of Women and Girls in Science, this collaboration reasserts the commitment of Honeywell toward pathway development leading to groundbreaking, science-driven solutions.
