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Published on : Nov 25, 2015

With a view of providing financial support to Indians and healthcare startup companies in India that are working towards developing initiatives in the field of health care innovation, Pfizer, the American multinational pharmaceutical company headquartered in New York, has announced a partnership deal with the Indian Institute of Technology (IIT) Delhi.

The partnership programme between Pfizer and IIT Delhi, referred to as the innovation and IP Program, features a grant of a sum of upto Rs 50 lakh by the American Pharmaceutical giant to each innovator. The innovator will be the owner of the patent and will be free for commercializing the innovation. The initiate has been co-created by Pfizer in collaboration with the Foundation for Innovation and Technology Transfer at IIT.

The programme will be a huge aid for innovators who are seeking support for translating innovative ideas related to the field of healthcare to patents. Under the programme, the innovators will be given an unencumbered fund of upto Rs 50 lakh, access to the prototyping laboratories, infrastructure, residential incubation at IIT Delhi premises, and mentoring support from IIT Delhi staff for duration of two years.

The innovators will also gain services for IP search and filing, guidance from global experts of Pfizer, and access to industry linkages and venture capitalists. Moreover, for the innovators who already have a proof of concept and are struggling for obtaining a patent, the programme will give access to IP services and lawyers and will cover the patent fee, Pfizer has noted.

Executive director of Pfizer India, S Sridhar has said that the IP and innovation program with IIT Delhi will help the promotion and celebration of advancements and innovations in the health care industry in India with the help of the reward.