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India’s largest medical device park launched in Hyderabad

Our Bureau, Hyderabad
Wednesday, June 21, 2017, 08:00 Hrs  [IST]

Telangana government  has launched India’s largest medical devices park on the outskirts of Hyderabad. On the day of inauguration itself, the government had handed over land to about 14 medical devices manufacturing companies.

Located at Sultanpur village on the outskirts of Hyderabad in Patancheru Mandal of Medak district, the newly established medical device park is spread across an area of 250 acres and is in the close periphery of Rajiv Gandhi International Airport and other logistic hubs.

The newly established medical device park is expected to house more than 1,000 medical devices manufacturing firms in the first phase. The government of Telangana is making all efforts to make this Medical Device Park as a first of its kind park in the country dedicated purely towards medical devices and electronics with an exclusive focus on medical innovations, R&D and manufacturing.  While taking part in the opening ceremony of the Park K T Rama Rao, Minister for IT, Municipal Administration and Urban Development and Industries, said, “We will provide all the necessary facilities to develop this park into a dedicated ecosystem for MedTech innovation and manufacturing of medical devices. With Hyderabad already renowned as a bulk drug and life sciences capital of the country, the medical device park is another feather in its cap.”

As Hyderabad already has a holistic ecosystem in terms of research facilities, engineering and medical talent, connect between research and medical ecosystem, manufacturing infrastructure, a strong local market, and supply chain and connectivity to all the important global export market, the newly established medical device park is going to attract more and more investors of related fields and make the city as an unmatched global destination for medical devices companies in the world.

With an aim to promote innovation through incubation, the government is adopting 3 pronged approach. As part of this, the facility will work closely with Indian Institute of Information Technology Hyderabad (IIIT-Hyderabad) for medical technology utilization for alloy works, plastics and medical electronics along with biotech like DNA protein and reagents.

IIIT-H will provide expertise in E&E, IoT, image, voice and data processing, etc. The focus of the incubator will be on scouting and validating medical device projects, prototyping and fine-tuning business models.

To weed out the financial constraints for the development in the park, an accelerator seed fund has been proposed. The Seed-fund as a SEBI category 1 fund, will select med-tech startups and invest in them. The accelerator will provide seed funds ranging from Rs. 10-50 Lakh in tranches, and also provide mentoring to the startups, in return for an equity stake. The stay in the incubator will be time-bound, with regular milestones to be met.

Overall the medical device park brings together a holistic ecosystem for setting up research as well as manufacturing units, and benefit from the scale and facilities of a larger cluster.

 

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