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

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.

By Newsmeter Network  Published on  3 March 2024 7:30 AM GMT
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 ā€˜2nd Incubator Start-up Challengeā€™, LVPEIā€™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 LVPEIā€™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 ā€˜AIOS EyeInvent Hackathonā€™ 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.

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