The Mazumdar Shaw Medical Foundation was started in 2014, with the belief that only a will, highly motivated by compassion can direct science towards intelligent innovations that convert today’s expensive medical discoveries into affordable solutions. To make this possible, a strategy was developed to seamlessly incorporate a high-tech hospital with translational research facilities, medical outreach & compassionate care programs and technology development capabilities, into a highly interactive ecosystem. The idea is to create a new hospital culture where every health-worker has ready access to resources for guided innovation at multiple levels. The Mazumdar Shaw Medical Center (MSMC), a unit of Narayana Health, with the Mazumdar Shaw Center for Translational Research (MSCTR), Mazumdar Shaw Cancer Outreach Program (MSCOP) and the Technology Business Incubator (TBI) are the current 4 pillars of the Mazumdar Shaw Medical Foundation. This ecosystem is providing a unique opportunity for bridging medical practice with research, science, sociology & economics, technology and medical design.
In June 2015, the Mazumdar Shaw Medical Foundation in lieu of the translation research facilities infrastructure being setup was conferred upon the TBI status by Department of Science and Technology, Government of India. Following which in July 2019, we were conferred upon the BIONEST status by BIRAC, Department of Biotechnology, Government of India. This recognition allowed the infrastructure the support system to both in-house clinicians and external entrepreneurs to setup the enterprise path for their research ideas emerging from a clinical need.
Nine out of Ten startups fail, statistics testifies the hard truth. Startup ecosystems like Incubators, accelerators, co –working spaces etc should be well equipped to improve the odds of success for the startups and the entrepreneurs should be working harder and smarter understanding the reality.
Though there are many reasons why startups fail, by running one the nation’s first corporate hospital-based technology business incubator – MSMF has learned that, healthcare startups usually fail due to:
- their product or service not solving a clinical pain point or patient need
- lack of pre-clinical/clinical testing and validation facility along with regulatory hurdles
- access to pre-seed or proof of concept funds.
The MSMF ecosystem has been designed and thoroughly equipped through all our collective programs herein to address the above challenges and set the odds for winning for the startup at a par above the others.
The Vision of BIRAC-Mazumdar Shaw Innovation Centre is to be a global ecosystem for innovations in Medical Sciences and novel technology development for making advanced healthcare accessible and affordable.
- Our Mission is to be a powerful interactive environment for sensitising entrepreneurs and scientists to the everyday challenges faced by highly accomplished clinicians and educate healthcare personnel to identify and leverage opportunities emerging in engineering sciences.
- Instil a culture of eclectic, broad bandwidth thinking and imaginative ideation within a busy, evidence based hospital medical practice to accelerate start-ups to rapidly optimise Medical Technology solutions.
- Provide exposure to latest advanced applied medical technology within a hospital and community environment.
Meet The Team
- Governing Council
- Investment Committee
- Scientific Committee
- Management Team