HealthTech Innovations that Help Millions - DERBI Foundationâ€™s Partnership with HDFC Bank Parivartan
Dr. Albert Szent Gyorgyi once said that “Innovation is seeing what everybody has seen and thinking what nobody has thought” and that’s precisely what innovation is all about. We are seeing a boom in the startup ecosystem over the past five years which has made the life around us more convenient and simple - just by that “one idea.”
The startup ecosystem consists of not only startups but also the various stakeholders such as Incubators, Venture Capital Funds, Mentors, Corporates, Institutions, etc. The Association of these stakeholders creates a huge impact on the startups as well as the entire ecosystem. The resources of the stakeholders and the innovation of the entrepreneurs can lead each other to an entirely new dimension of development.
DERBI Foundation has partnered with the HDFC Bank Parivartan Program through which support is being extended to startups in the healthcare segment. Let’s take you through this partnership and the startup’s innovations!
About DERBI Foundation:
Starting as an E-cell in 2009, today DERBI Foundation has been established as a technology & business incubator with the backing of NSTEDB, Department of Science and Technology, Ministry of Electronics and Information Technology, Department for Promotion of Industry and Internal Trade, Government of India. Since then DERBI has been supporting enthusiastic entrepreneurs and their innovations so that they can help millions of people around the world. DERBI wants to fuel and fulfill the entrepreneur's dreams to achieve the desired results with the varied pre-incubation, incubation, and acceleration programs along with the team’s expertise. DERBI Foundation aims to support the vision of the entrepreneurs by providing them with all the means starting from mentoring to giving them connections to funding opportunities.
About HDFC Bank Parivartan Program:
In recent times, there’s a huge demand for sustainability in our surroundings. HDFC Bank is bringing sustainable changes into the society through the ‘Parivartan Program’ - a step toward progress. This program is structured in such a way that it brings out how the bank’s operations & environment are aligned with the UN Sustainable Development Goals. Parivartan, HDFC Bank’s Corporate Social Responsibility initiative has five pillars namely; Financial Literacy & Inclusion, Promotion of Education, Rural Development, Skill Training, and Livelihood Enhancement, and Healthcare and Hygiene. Thus, through Parivartan Initiative, HDFC Bank’s vision is to empower the underprivileged and to give back to society in the most meaningful way.
Startups Onboarded for Parivartan Program:
The company provides personalized preventive healthcare to pregnant women at the doorstep using AI & IoT-enabled healthcare solutions. They aim to reduce maternal & infant mortality by providing timely and appropriate care during the first 1000 days to the mother and the baby. This solution includes both hardware devices and software programs.
“As a healthcare focused incubator DERBI adds more value to our startup journey. They open up various funding opportunities and connect to right mentors to scale our products. DERBI's strong connection with various partners and international organisations help us to reach global audience.” – Senthil Murugesan, Co-Founder
The company is developing easy to use, portable health tests to make diagnostic testing convenient, accessible and available to anyone, anywhere, anytime. This enables patients, their family and healthcare workers to monitor existing health conditions and screen for infections at patient's home to help doctors make much faster clinical decisions. Their first product focuses on hypothyroidism testing which is a major healthcare challenge estimated to affect more than 15 crore Indians.
“Vidcare had participated in DERBI's EMERGE Acceleration Program in 2019-20. We have had a good working relationship with DERBI ever since, where they have helped us connect with various mentors, stakeholders as well as in our fund-raising efforts.
EMERGE Program - The program was targeted and catered to specific requirements of the startups rather than the general lecture-based programs. The team comprising of experts from DERBI, InnAccel and Frost-Sullivan had prior experience in health and/or medtech startups and understood the nuances of the industry. Further, they had relevant investors, industry experts, stakeholders and more experienced startup founders as guests & speakers during a few of the sessions. We made a number of lasting contacts and also brought in an industry veteran we met here as an advisor for Vidcare. This was in addition to the fruitful interactions we had with the experts during personal sessions.” – Rohan Aggarwal, Co-Founder
The company is developing an AI-based Point of Care Pneumonia screening device for rural settings. Their vision is to precisely diagnose early pneumonia cases to prevent the casualties. Their technology is bridging the gap between physical and laboratory diagnosis.
Backyard Creators are solving the problem of expensive open skull surgeries required for implanting hearing aids, by building a small device that would provide magnetic stimulation behind the ear and is also cost-effective and eliminates the need for expensive surgeries.
These startups are on their way to make real differences in society through that “one idea”. By joining hands with HDFC Bank, DERBI can support startups by providing them mentoring, connections, pilots, and funding which will lead them towards achieving their vision. This partnership will fulfill DERBI Foundation’s urge to work towards promoting and supporting innovations that are touching many lives in the community which are creating rural digital transformation that is the way forward, and HDFC Bank’s aim to give back to society in a meaningful way.