About

A Center of Excellence in the field of MediElectronics and Health Informatics. This novel initiative is being set up by consortia comprising of Software Technology Parks of India (STPI), SGPGI Lucknow, Department of IT and Electronics, Government Of UP, Association of Indian Manufacturers of Medical Device(AIMED), Andhra Pradesh MedTech Zone (AMTZ) along with Kalam Institute of Health Technology (KIHT). The objectives of opening the same are to boost start-ups in the field of medical equipment/electronics & health informatics, and, to contribute to “Make-in-India” & “Digital India” programs of Govt. of India by reducing Health Care Equipment imports and recognize the value of Health Care Equipment & Technology locally. Apart from physical infrastructure, the CoE will have the access to Technocrat/Medical practitioners mentorship, mentorship programs and VC fundings.

Stakeholders & Partners

Eligibility Criteria for MedTech

Who can apply: Company Type

• Private Limited Company (as defined in the Companies Act, 2013)
• Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932)
• Limited Liability Partnership (under the Liability Partnership Act 2008)

The start-up must be incorporated as a the date of registration/incorporation must not be beyond 10 years.

Annual Turnover

Start-up should have an annual turnover not exceeding Rs. 100 crore for any of the financial years since its incorporation.

Original Entity

An entity should not have been formed by splitting up or reconstructing an already existing business. Innovative & Scalable Entity working towards innovation, development, or improvement of products, processes, or services or if it is a scalable business model with high potential of employment generation or wealth creation.

Terms & Conditions

• Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.
• Each start-up will be offered a minimum of 5 seats.
• Each start-up has to offer designated equity to STPI as per the present valuation.
• The start-up has to pay designated service charges per seat per month for availing all of the above-mentioned facilities. The incubates under product development and R&D shall be offered a rent discount of 40% in 1st year, 25% in 2nd year & 15% in 3rd year as per the STPI Incubation Policy.

Focus Areas

The Start-ups are expected to solve the problems in the following:

Selection Process:

Idea Challenge Program would be organized in two (2) phases.

• Phase-1: Shortlisting of Ideas, POCs and Solutions having strong potential
• Phase-2: Selection of start-ups for this program through pitch-in session.

Duration:

MedTech, A Center of Excellence in the field of MediElectronics and Health Informatics will conduct Idea Challenge Program from time to time to select innovative startups & entrepreneurs in field of MediElectronics and HealthInformatics. In each cohort selected startups will get chance to incubate for period ranging from 3 months to 6 months. During the Incubation Period, the startups will undergo an intense mentorship to deliver time bound results. The startups will also undergo the Master Classes which will help them understand the fundamentals of entrepreneurship and build solution to the problems identified by them.

Post Incubation selected startups may get chance to participate in Acceleration Program for 9 months. During the Acceleration Program, the startups shall receive the knowledge through various masterclasses conducted periodically such as Go to market with a MVP, Marketing (traditional and digital) & Proactive Selling Skills Data Analysis and Sustainable Business Model Pitching to the investor & Scaling the Business. MedTech CoE will also help these startups raise an investment upto Rs. Twenty Five lakhs from potential Investors, Partner and their Associates based on their own discretion.

Offerings: Infrastructure Facilities

• Ready-to-Work Plug & Play space as per requirement.
• STPI Lucknow Datacentre.
• Access to MediElectronics & Health Informatics Lab/IoT Lab (focusing on health domain).
• High-Speed Internet Access.
• 24 x 7 x 365 days of Operational workspace.
• Round the clock security.
• Dedicated team/Support round the clock.

Mentorship

• Mentors shall identify specific needs at specific times like prototyping/design vendors, small-scale manufacturing vendors, large-scale manufacturing vendors, etc. and make best efforts to connect the start-ups with such ecosystem players.
• Full-time resource presence and organizing peer meetings with mentors at regular intervals.
• The platform for accessing the mentor through an online portal.
• Train/ educate start-ups in the fields of research, user experience, and business technology courses with cutting edge programming and deep-tech applications.
• Support the start-ups for developing Proof of Concept, provide mentoring for designing & development and help start-ups to convert their idea into a reality.
• Transforming the start-ups from idea level to Prototype level, Prototype level to MVP (Minimum Viable Product) level, MVP level to GTM level, and graduating the start-ups into full-fledged company status.
• Providing a multidisciplinary approach in developing innovative products based on identified business challenges.
• Support for developing, enhancing, and piloting start-ups prototype and business model in a collaborative environment.
• Conducting needs-based mentoring sessions on legal, compliance, branding, cybersecurity, tech, etc.