SPMCIL pledges ₹2.3 crore to six start-ups on COVID

SPMCIL has come forward to support organisations at AIC-CCMB involved in mitigating the COVID-19 pandemic. (Source: Arrangement)

Security Printing and Minting Corporation of India Limited (SPMCIL) has pledged ₹2.3 crore to the Atal Incubation Centre — Centre for Cellular & Molecular Biology (CCMB) novel COVID-19 Technology Deployment (CoviTED) designed to help promising start-ups accelerate the scale-up and deployment in the market.

The incubator has selected six start-ups with promising technologies in the first call and this support from SPMCIL as part of its Corporate Social Responsibility (CSR) will help these with critical financial, regulatory, and marketing support, informed the CEO & consultant scientist N. Madhusudhana Rao on Wednesday.

SPMCIL has come forward to support organisations at AIC-CCMB involved in mitigating the COVID-19 pandemic after the ‘tsunami of Covid-19 has ravaged the nation. The pandemic has ignited an extraordinary response from start-ups and innovators across the globe to identify and implement potential short and long-term solutions.

As the threat of new variants causing another wave looms large, there are significant opportunities to reduce the cost of testing and indigenisation of Medtech, he said at ‘CoviTED-19 Tech Showcase’ held at the institute. “Timely supports are crucial for rapidly adapting to demands of the pandemic and SPMCIL support will go a long way in evolving novel technologies to stop and decelerate the viral infections,” added Dr. Rao.

SPMCIL chairman and managing director Tripti Patra Ghosh said her organisation understands the need for promoting indigenous technologies to tackle the COVID-19 pandemic. “Our CSR initiatives, programmes, and policies are intended to meet the basic needs of the citizens. Our support for carrying out activities relating to COVID-19 oriented healthcare projects furthers our commitment to building a sustainable society,” she said.

CSIR-CCMB director Vinay Kumar Nandicoori said he was delighted that a public enterprise like SPMCIL has come forward to to realise the potential of start-ups and engage with incubators like AIC-CCMB further the Atmanirbhar Bharat.