Hyderabad: LVPEI partners with AIOS, hosts second incubator start-up challenge

Hyderabad: The LV Prasad Eye Institute (LVPEI) and All India Ophthalmological Society (AIOS) partnered to host the ‘2nd Incubator Start-up Challenge’, LVPEI’s flagship event to recognise the best start-ups globally for innovation in the field of eye care.

Positioned under the BioNEST program of the Biotechnology Industry Research Assistance Council (BIRAC), Government of India, the LVPEI start-up incubator serves as the premier hospital-based incubator, providing a comprehensive platform for healthcare innovators to incubate ideas, develop prototypes, and achieve commercial milestones while leveraging the rich handholding ecosystem of the institution.

The two-day event started on March 1 with a boot camp at LVPEI BioNEST in Poonirma and Ramam Atmakuri Centre for Technology in Kismatpur. It concluded with the finale announcing the start-up challenge winners at LVPEI’s Kallam Anji Reddy campus, Banjara Hills, Hyderabad.

The winner was Sunbots Innovations LLP who will receive Rs 5 lakhs and 12 months of free incubation at LVPEI. The first and the second runner-ups were Innovease India Private Limited and JohnDa's Pocket Foldable FunDaScope.

These winners will get an opportunity to present their ideas at the All-India Ophthalmological Society meeting in Kolkata. As part of its commitment to supporting innovation, AIOS will provide support to help these start-ups advance to the next level.

Choosing the best

In October 2023, LVPEI launched its start-up challenge, inviting entries from eye care start-ups worldwide. After a rigorous evaluation, ten start-ups showcasing innovations in medical devices, diagnostics, drugs, and therapeutics were chosen from a competitive pool of applicants.

Parallelly, the ‘AIOS EyeInvent Hackathon’ yielded another ten competent ophthalmologists with innovative eye care solutions.

The shortlisted applicants from both events participated in an intensive boot camp on March 1 where they received mentorship to refine their business plans and commercialisation strategies from industry experts.

Start-ups then presented revised pitches to the jury, where they demonstrated their technology and products. Three teams from them were chosen as winners.