IIT Hyderabad's Center for Healthcare Entrepreneurship raises $9.6 million in funds

The Center for Healthcare Entrepreneurship (CfHE) at the Indian Institute of Technology (IIT), Hyderabad, said on Wednesday that it raised $9.6 million (around Rs 80 crore) from the founder of Tanushree Foundation and ESKEYN Ventures, Sushant Kumar.

With this funding, the Center, which is a nationally recognised healthcare technology business incubator, aims to accelerate the development and adoption of breakthrough healthcare solutions to address the unmet needs and improve patient outcomes.

"The substantial investment will empower CfHE to expand its initiatives aimed at nurturing aspiring healthcare entrepreneurs, providing them with the resources, mentorship, and networking opportunities necessary to translate innovative ideas into impactful solutions," Kumar said in a statement.

The Center said that this fund will further bolster CfHE's initiatives aimed at nurturing entrepreneurship and innovation in the healthcare sector.

"With a vision for Aatmanirbhar Bharat and Make in India, the CfHE has taken bold steps in addressing this gap through focused programmes in medical devices, development of human resources, and promotion of startups for indigenous development of medical devices and innovations," said B.S. Murty, Director, IIT Hyderabad.

With a commitment to fostering indigenous development and addressing the unmet needs in healthcare, this collaboration between the industry and academia promises to catalyse transformative changes that benefit society at large, the CfHE said.