Ventilators from med-techs who bagged Marico Innovation Foundation grant, priced 80% lower than market rate

MUMBAI: The winning solutions from the three med-tech innovators who bagged the Marico Innovation Foundation (MIF) grant in the ventilator category, are not just clinically validated but the ventilators are priced 70-80% lower than current market rates.
MIF said these ventilators are build-in-India, built-by-India and built for India and the world. The three firms which emerged winners of MIF’s 'Innovate2Beat COVID Programme' in ventilator category are Shreeyash Electro Medicals, KPIT Technologies and Nocca Robotics.
Harsh Mariwala, chairman, Marico, said: “In my experience, both as an entrepreneur and as the Founder of Marico Innovation Foundation, some of the most ingenious solutions have emerged from seemingly hard pressing challenges.It is with this thought that we joined hands with A T E Chandra Foundation to offer Rs 250 lakh in grants through our #Innovate2BeatCOVID Grand Challenge.”
MIF had called upon med-tech innovators with scalable solutions to mitigate the potential short supply of PPEs and ventilators.
According to MIF, the ventilators have high end functionality comparable to international counterparts. MIF is helping distribute approximately 6,000 units per month. MIF believes not only do the ventilators have the potential to achieve significant impact during the pandemic, but also after the pandemic has passed.
“What is also interesting they all swung into action only once the pandemic broke out, utilising their knowledge and skills to invent a device that can support the already strained medical infrastructure; and our aim is to help them scale rapidly to put India on the global innovation map,” said Mariwala.