IIT Bombay, ICICI Foundation Expand Biomedical Innovation Hub with INR 70 Cr Support

The upgraded hub will support the development of medical devices and diagnostic solutions, featuring facilities for product development, medical-grade manufacturing, safety testing, inspection, and packaging.

The Indian Institute of Technology (IIT) Bombay and the ICICI Foundation for Inclusive Growth have collaborated on an INR 70 crore project to enhance biomedical innovation infrastructure.

As part of this initiative, additional floors will be constructed at the Biomedical Engineering and Technology Innovation Centre (BETIC), significantly expanding its capacity.

The initiative aims to create the ‘IIT-ICICI BETIC Hub,’ which will increase the centre’s area fivefold to 19,700 sq. ft.

Professor Shireesh Kedare, Director of IIT Bombay, said, “This partnership exemplifies how industry-academia alliances can drive innovation towards real-world impact. With the ICICI Foundation’s generous support, IIT Bombay is poised to revolutionise biomedical research and technology, addressing critical healthcare gaps in India and fostering home-grown solutions that are accessible, affordable, and scalable.”

The upgraded hub will support the development of medical devices and diagnostic solutions, featuring facilities for product development, medical-grade manufacturing, safety testing, inspection, and packaging.

The infrastructure will also support med-tech startups, provide training for healthcare innovation professionals, and generate employment opportunities in the biomedical sector.

Pradeep Kumar Sinha, Chairman of ICICI Bank, also endorsed the development. “Healthcare is a key focus at ICICI Foundation’s CSR initiatives. India’s unique healthcare challenges — high disease burden, vast rural populations, and affordability constraints—demand indigenous innovations in biomedical, tailored to its needs,” he said.

He added, “The ICICI Foundation and IIT Bombay partnership aims to meet this objective. The ‘IITB-ICICI BETIC Hub’ will facilitate the development of Indigenous medical innovations, ensuring affordable healthcare solutions for patients. We are delighted to collaborate with IIT Bombay to drive a meaningful change in the healthcare ecosystem.”

Stay tuned for more such updates on Digital Health News