THIRUVANANTHAPURAM: NITI Aayog member and noted scientist VK Saraswat has urged the industry to handhold innovators in the biomedical research. While delivering the presidential address at the Technology Conclave 2019 at the Sree Chitra Institute for Medical Sciences and Technology, Saraswat said the country lacked a system to help innovators in the valley of death (the phase between research and successful innovation).
“In India we do not have a strong system to pull out our innovators from the valley of death. Here, the industry can play a big role. Industry should step in when the basic research turns into translational research,” said Saraswat, who is also the president of the SCTIMST.
Investment should start flowing from the industry when the idea is getting into the demonstration stage, he said.Affordability and access are among the major problems faced by the healthcare sector, said Saraswat. The country’s per capita spending on health is two dollars while the US spends $5 and Germany about $31. Saraswat said the healthcare sector was facing an acute shortage of doctors. Institutions like the SCTIMST should try to increase the number of seats for medical courses.
Terumo Penpol founder C Balagopal, in his address, said the R&D spending of the governments and industries in the country was low. Despite this, Indian research institutes have a huge resource in terms of technology and skilled persons. Entrepreneurs should explore this, he said.
SCTIMST director Dr Asha Kishore said the biomedical technology wing of the institute has made tremendous contributions to the Indian healthcare sector. The blood bag developed by the wing is exported to over 70 countries and mechanical heart valve has crossed 1,20,000 implantations since 1990. BMT wing head Dr Harikrishna Varma delivered vote of thanks. The function saw the commercial launch of Vein Viewer developed by the SCTIMST and manufactured by Ms Agappe Diagnostics and product launch of DRIPO infusion monitor developed by Evelabs Technologies Pvt Ltd, a startup company incubated at SCTIMST. Besides, technology transfer of six new products were held.