TDK Corporation to partner with GDC-IIT Madras to launch TDK India Incubation Centre’s Accelerator Program 2024
The objective of TDK is to support Indian researchers and startups in the Healthcare and diagnostic Technologies sectors by identifying, supporting, mentoring, and investing in them
CHENNAI : TDK Corporation, a world leader in electronic solutions for the smart society, is partnering with the Gopalakrishnan-Deshpande Center for Innovation & Entrepreneurship (GDC) at IIT Madras to launch ‘TIIC Accelerator Program 2024’.
The program aims to foster innovation in the Healthcare Technology and Diagnostics sector arising from Indian STEM university researchers and startups.
Highlighting the unique aspects of this program, Mr. Michael Pocsatko, Senior Vice President of TDK and General Manager of Corporate Marketing and Incubation Headquarter, said, “This partnership is an important additional step forward in our long-term commitment to contribute to India’s ambitious targets for the growth, innovation and transformation of its economy and society”.
Speaking about this partnership, Prof. Krishnan Balasubramanian, Institute Professor and Faculty-in-charge, Gopalakrishnan-Deshpande Center for Innovation and Entrepreneurship, IIT Madras, said, “GDC-IIT Madras’ collaboration with TDK Corporation is an exciting opportunity for us to join forces in supporting innovative startups in the healthcare technology space. By combining TDK’s industry experience with our technical expertise and entrepreneurial development support, we aim to empower Indian startups to bring cutting-edge healthcare solutions to market.”
Through this collaboration, TDK Corporation aims to harness India’s deep talent pool and creativity to propel breakthroughs in healthcare diagnostics, medical devices, and related areas. The program will provide targeted support, mentorship, and partnership and investment opportunities to catalyze the growth of promising healthcare technology ventures.
By combining TDK’s extensive experience in the technology industry with GDC’s experience in commercialization of research and fostering entrepreneurship, the ‘TIIC Accelerator Program 2024’ aims to make a significant impact on the healthcare technology start-up ecosystem in India.
During the exchange of MoU at IIT Madras recently, Mr. Varadharajan Ranganathan – General Manager of TDK India Incubation Centre, said, “The engagement with GDC will allow us to reach out to entrepreneurs across India who are committed to building their own startups in technology areas of interest to TDK.”
The Program seeks participation of startups from multiple segments of the Healthcare Technologies and Diagnostics sector, including the following:
Ø Diagnostic labs/services
Ø Diagnostic devices – Imaging devices, Therapeutic devices, Sensing devices, Recording devices, and Surgical devices (excluding implants)
Ø Consumables
Ø Advanced materials for medical diagnostics and equipment
Ø Equipment-related services
Ø Wearables
Ø Analytics
Ø Technologies underlying the above – Sensors, IoT, 5G, 3D printing, AI/ML, Advanced Materials, Generative AI, Telemedicine, Robotics, AR/VR, etc.
Ø Neuroelectronic interfaces
The Program starts with a Call for Applications in June 2024 from which highly promising startups/teams will be selected. Thereafter, GDC will host an in-person workshop of the selected teams/startups at the IIT Madras campus. Following this, the teams will undergo an intensive 6–8-week boot camp focussing on customer discovery. In the next phase, a set of shortlisted teams will participate in a Business Mentorship program, which will help them get investment-ready and prepare them for their pitch to TDK to secure investments or explore other potential collaborations.