Deadline: 3 April 2020
IKP Knowledge Park, along with IKP Trust, has launched the ICO-Fund, to nurture innovations that are ready for production to fight the COVID-19 situation.
The COVID-19 I-CO Fund is an initiative of IKP Knowledge Park (IKP) to identify and fast track technology driven solutions from entrepreneurs that can be deployed to help control COVID-19 in India and around the world. Through this endeavor, IKP and IKP Trust will be working with entrepreneurs, corporate(s) and government agencies to contribute in the management of the COVID-19 pandemic.
The Trust will enable the selected entrepreneurs to fine-tune their solutions for manufacturing, and connect with manufacturing facilities and supply-chain networks to help in the production, deployment and distribution of their innovations.
The Trust invites ideas that provide integrated solutions in the following areas:
- Screening tests
- Home based health screening and monitoring, including measurement of Heart Rate, BP,
- SpO2 and Body Temperature, with indication of when to seek medical help /move to hospital
- Application that uses coughing pattern to detect COVID-19, educates and directs patient to the nearest laboratory for testing; geo-locates cough clusters
- Diagnostics
- Affordable Point of Care Diagnostic kit
- Reagents needed for diagnostics
- Safe methods of sample collection, storage and transportation
- Equipment for patient management
- Non-Invasive Ventilator
- Contact less device for monitoring respiratory distress
- Face Mask
- Protective face shield
- Other PPE
- Any other product or solution that will aid and ease patient management
Funding Information
- The Trust plans to select up to 8 candidates, who will be eligible for an initial rapid funding of up to INR 20 Lakhs each for a maximum period of 1 month to develop a solution that is ready for manufacturing/deployment.
- The financial assistance will be 50% grant, and 50% returnable capital with simple interest of 5% per annum over 36 months.
- Further funding for procurement, manufacturing and deployment will be sought from government agencies and corporate.
Eligibility Criteria
- The Trust is seeking applications from entrepreneurs for solutions for combating COVID-19 that can be made ready for manufacturing / deployment within a period of two weeks from receipt of the award.
- This Call for Proposals is open to startups and SMEs.
- Proposals will be selected on the basis of the following criteria:
- Alignment with the mandate of the Call
- Manufacturing readiness
- Affordability
- Execution capacity
- Indian companies applying for the award should have Registration under Companies Act 1956/ 2013 and must have 51% equity or shareholding by Indian Nationals only, including NRIs. Non-Indian companies will need to partner with an Indian company, so that the Indian company can be the beneficiary of the I-CO Fund.
- This is open to anyone working in India. You may be of any nationality, but the Trust requires that the work happen in India.
For more information, visit https://ikpeden.com/funding/