IIT Hyderabad-incubated startup wins Rs 25 Lakh funding

IIT Hyderabad-incubated startup wins Rs 25 Lakh funding

Agency News

Hyderabad, Jul 22: Indian Institute of Technology Hyderabad-incubated Startup BeAble has won Rs 25 lakh in funding at ‘Open Innovation Challenge 2019’ of India Innovation Growth Programme (IIGP) 2.0.

The startup is a spin-off from the first batch of fellowship in Healthcare Entrepreneurship at Center for Healthcare Entrepreneurship (CfHE) – IIT Hyderabad, and works in the convergence of good design and technology to rehabilitate stroke patients.

The IIGP 2.0 Open Innovation Challenge 2019 received more than 1,600 applications from across India. BeAble Health was selected as one of the winners and awarded seed grant of Rs 25 lakh to support its market penetration and scale-up operations, the Institute said in a release here on Monday.

The IIGP 2.0 is a tripartite initiative of Department of Science and Technology (DST), Government of India, American global defense manufacturer Lockheed Martin and Tata Trusts.

Supporting the Government of India’s missions of ‘Start-up India’ and ‘Make in India,’ IIGP 2.0 works to enhance Indian innovation ecosystem by enabling innovators and entrepreneurs through the stages of ideation, innovation and acceleration to develop technology-based solutions for the future.

Congratulating BeAble on its success, CfHE Co-Head and IIT-Hyderabad Department of Biomedical Engineering Head, Prof Renu John, said, “The Center for Healthcare Entrepreneurship (CfHE), IIT Hyderabad, is focused entirely on boosting healthcare innovation in India. BeAble is one such example of an innovative startup coming out from the CfHE and we are sure they will make a positive impact on Indian healthcare sector. IIT Hyderabad looks forward to incubating many more successful startups through CfHE.”

‘ArmAble’ device is BeAble Health’s first product and is aimed at solving the pressing need for an intensive, engaging and regular rehabilitation therapy for Upper Limb. (UNI)