Mission Bharat O2 receives funds from ICICI Securities to manufacture indigenous oxygen plants & concentrators.
The Startup Incubation and Innovation Centre at IIT Kanpur has managed to garner funding from the ICICI Securities to expedite the programmes of its Mission Bharat O2. This agenda aims to develop and bolster an ecosystem of indigenous medical resources, on par with global agencies, to address the looming pandemic threat. As per reports, with the newly acquired grant, IIT Kanpur aims to develop a rapid manufacturing-delivery model of high-quality oxygen concentrators.
Boosting the supply & delivery of oxygen equipment
The flagbearer of India's self-reliant healthcare system, IIT Kanpur and SIIC have banked on a 3 pronged strategy to expedite the delivery of oxygen supplies across the nation. The institute aims to monopolise on the tools of fast track product development, centralised sourcing and decentralised manufacturing to facilitate 20,000 top-notch oxygen plants & concentrators to ease the COVID control supply.
The key characteristic of these quality products will be their affordability, IIT-Kanpur said. The domestically manufactured equipment will be marked at least 40% lower than imported ones, it added.
The SIIC has already shortlisted eight manufacturing partners from over 70 candidates who competed to procure the tender of these indigenous oxygen plant and concentrators. It plans to churn out 100 units every day, per manufacturer, to reach its holistic goal.
Positioning India in the league of global manufacturers
The Professor in charge of Incubation and Innovation, Prof Bandyopadhyay highlighted the immense contribution of its incubated companies since the outbreak of the pandemic last year. Now, the institute envisages taking this to another level and create a network of local manufacturers who will place India in the same league as global manufacturing hubs.
ICICI Securities is one of the leading financial services company of the nations and its support will practically scale up the SIIC vision to convert India into an edge-cutting global producer.
Mr Vijay Chandok, MD & CEO, ICICI Securities stated, "We are honoured to extend our CSR partnership with IITKanpur this year for this project which would help all players in the healthcare ecosystem by providing affordable yet high quality, indigenous oxygen concentrators."