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Honeywell partners IISC to support science & technology startups
Honeywell partners IISC to support science & technology startups
Honeywell (NYSE: HON) announced on Tuesday it was partnering with the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) to support deep science startups with societal impact.
Bengaluru: Honeywell (NYSE: HON) announced on Tuesday it was partnering with the Society for Innovation and Development (SID) at the Indian Institute of Science (IISc) to support deep science startups with societal impact.
Honeywell's partnership with SID opens up opportunities to support startup ventures working on science and technology projects not related to the company's core areas of work, but intended to address large, societal problems. Honeywell's corporate social responsibility (CSR) contribution will also target needs relating to Covid-19, including building a new class of eco-friendly specialty fluorescent dyes and a rapid point-of-care diagnostics test for use in low resource settings. Dr Akshay Bellare, President, Honeywell India, said, "As a responsible corporate citizen, we see this partnership as a path to fostering a vibrant startup ecosystem, driving innovation to solve societal challenges, and opening up pathways for job creation and economic stimulation."
Professor B. Gurumoorthy, Chief Executive, SID, said, "At SID we are well positioned to nurture startups by providing access to the right technology, lab infrastructure, seed funding, mentoring and human capital. We are hopeful that this collaboration with Honeywell, a leading technology company, will encourage more corporations to support technology incubation through CSR funding."
Three of the startups that Honeywell is supporting are led by women entrepreneurs, including Dr. Fathima Benazir, Co-founder and Chief Scientific Officer, Azooka Labs. Dr. Benazir said, "The National Startup Award for Women-led Enterprise is a big win for women in science. We would like to thank SID for their continuous nurturing and Honeywell for their timely support. We hope our success will encourage the small but dedicated community of scientists and entrepreneurs working on new frontiers of science."
Honeywell and SID are currently evaluating a new crop of startups to support, with a vision to help create technologies that solve some of the world's toughest challenges.
