Mumbai: The Indian Institute of Technology (IIT) Bombay has partnered with ICICI Foundation for Inclusive Growth to expand its Biomedical Engineering and Technology Innovation Centre (BETIC), aimed at strengthening India’s capacity for developing affordable healthcare technologies.
Under the agreement, ICICI Foundation, the CSR arm of ICICI Bank has committed Rs 70 crore towards constructing additional floors for the BETIC facility and installing advanced biomedical research and manufacturing equipment. The Memorandum of Understanding (MoU) was signed by Prof. Shireesh Kedare, Director of IIT Bombay, and Sanjay Datta, President of ICICI Foundation, in the presence of ICICI Bank Chairman Pradeep Kumar Sinha.
The new extension, named the ‘IIT-ICICI BETIC Hub,’ will increase the centre’s built-up area five-fold, reaching approximately 19,700 square feet. The expanded facility is expected to provide a more comprehensive ecosystem for biomedical engineering research, innovation and product development.
The hub will bring together researchers, healthcare professionals, and industry experts to design and develop affordable medical devices and diagnostic tools tailored to India’s healthcare needs. The facility will include resources for product development, manufacturing, safety testing, and packaging key processes required to move innovations from lab to market.
Speaking on the partnership, IIT Bombay Director Prof. Shireesh Kedare emphasized that collaborations between academic institutions and industry can accelerate innovation addressing local healthcare challenges. He said the expanded hub will help bridge critical gaps by fostering homegrown solutions that are scalable and cost-effective.
ICICI Bank Chairman Pradeep Kumar Sinha highlighted that India’s healthcare system faces unique challenges such as affordability, rural healthcare access, and a heavy disease burden. He noted that the partnership is aimed at supporting the development of indigenous medical technologies, reducing dependency on imports, and making healthcare solutions more accessible.
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