HYDERABAD: Global medical devices giant Medtronic has joined hands with Telangana govt led startup incubator T-Hub to boost health-tech innovation.
The partnership aims to enhance the fast-growing health-tech startup ecosystem in India, which is currently home to over 8,000 startups with a combined value of around $2 billion, T-Hub & Medtronic said in a joint statement.
According to estimates, India’s health-tech sector is expanding at an annual growth rate of nearly 40%, and is set to reach $5.5 billion by 2025.
The collaboration will be centered around the Medtronic Engineering & Innovation Center (MEIC) in Hyderabad, Medtronic’s largest R&D centre outside the United States.
While T-Hub startups will benefit from mentorship, sponsorship, and expert guidance from MEIC, MEIC employees will get to participate in entrepreneurship workshops designed by T-Hub.
MEIC will also engage in industry collaborations and contribute to thought leadership in health-tech research and development through events like CXO roundtables and innovation workshops.
T-Hub CEO Mahankali Srinivas Rao said the partnership with Medtronic will accelerate the growth of health-tech startups and amplify their impact.
Divya Prakash Joshi, vice president & site leader at MEIC, pointed out that MEIC has been contributing to global healthcare excellence from Hyderabad for over a decade, and the new strategic partnership with T-Hub will empower health-tech startups in India.
MEIC, with its team of over 900 engineers, supports various global business units of Medtronic by providing a range of engineering solutions.
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