Launch of Open Challenge Program 3.0 – MedTech CoE, Lucknow

About this Challenge

MedTech, Center of Entrepreneurship in the field of MediElectronics and Health Informatics 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 Medical Device Industry (AIMED ), Andhra Pradesh MedTech Zone (AMTZ)). The objectives of setting 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 funding, Legal and IPR support, Marketing assistance etc.

Who Can Apply

Company Type
The start-up must be incorporated as a

1. Private Limited Company (as defined in the Companies Act, 2013) or
2. Registered Partnership Firm (Regd. under section 59 of the Partnership Act, 1932) or
3. Limited Liability Partnership (under the Liability Partnership Act 2008)
4. 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

1. Start-ups have to operate from the MedTech CoE Incubation facility at STPI Lucknow CoE at SGPGI.
2. Each start-up will be offered incubation space as per their requirement.
3. Each start-up has to offer designated equity to STPI as per the present valuation.
4. The start-up has to pay designated services charges per seat per month for availing incubation facilities.
5. The incubates under product development and R&D shall be offered discount as per the STPI Incubation Policy.

Focus Areas

Startups having innovative Idea/Product/Solution in following focus area:

1. IoT-Based Health Monitoring System Development and Analysis.
2. Handheld monitors and diagnostic tools.
3. Connected medical devices.
4. Any medical related electronic/IoMT device.

The focus area is not limited to above problem statements only. Any other product/solution which caters to one or more of the domains is invited.

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