18th June 2020
Author: Dr Taslimarif Saiyed, CEO & Director CCAMP
Blog CATEGORY: Diagnostics 4.0 Webinars
COVID-19 pandemic has thrown health systems across the world out of gear very rapidly and profoundly. In times like these, traditional approach to procure and deploy innovative healthcare technologies is limited in scope and impact. our India2022 team of Pavan Sannuti and Dr Vandana Sarda hosted an enlightening session on how local innovation is playing an amazing role in fighting the pandemic and the role of the PPP model in scaling such innovations rapidly. The session also discussed Project Tej – a MedTechConnect, RICH and Cyient alliance, targeted at rapidly designing and deploying interventions for COVID prevention focusing on arresting spread, and long term monitoring of populations.
- Dr Taslimarif Saiyed, CEO & Director CCAMP
- Mr Gautam Chakraborty, Innovative Health Financing Lead, USAID India
- Mr Neeraj Jain, Country Director – India, PATH
- Dr Sriram Natarajan, Founder & CEO, Molbio Diagnostics Pvt Ltd
- Mr NJ Joseph, Senior Vice-President, Cyient Ltd.
While the pandemic has reshaped almost every aspect of our lives, it has also given us the opportunity to build robust and much needed fundamental and structural reforms. Our warriors from the Healthcare and MedTech sector at the frontline have been adopting collaborative approaches to support the governments, communities and individuals in their battle against COVID-19. The current situation has firmly established the need to work even more collaboratively across all level – building a digital framework to a scalable infrastructure or agile healthcare delivery system.
In the upcoming Episode 2 (S3.E2) on ’Funding for Partnerships’, our India2022 team of Pavan Sannuti and Dr Vandana Sarda talk to the panel about their perspectives on collaborations and partnerships and funding priorities aligned to these, in the face of the unprecedented crisis of Covid-19.
Insights from the Session
The eminent panel consisting of Mrs ManjulaKalyanasundaram, Managing Director, SBI Foundation and Dr Ajay Kela, President and CEO, Wadhwani Foundation, threw light on existing COVID-19 priorities. Wadhwani Foundation has been aggressively recruiting the healthcare companies in helping them accelerate their products or re-engineer some of them to support the requirements of Covid-19. Their vision remains to have innovations for going beyond ‘First in India, Best in India’ to ‘First in the world, Best in the world’. Towards this, they are looking to funding the next generation of healthcare innovations for the public healthcare infrastructure through their USD 100 million Catalyst Fund initiative and hope to leverage technology and partnerships to scale these innovations.
SBI Foundation hasbeen at the forefront of responding to Covid-19 with an alliance called the “India COVID-19 Healthcare Alliance” partnering with Xynteo and others. The alliance aims to bolster the current public healthcare system and further strengthen the interventions to contain the spread of the coronavirus. Going forward, they plan to extend these facilities for other long-term disease management and also to ramp up the healthcare infrastructure in the country. The Foundation envisages that it would not be enough to work on grants model alone and has proposed floating blended finance mechanisms where both lending from banks as well as grants would be deployed to make sustainable improvements in the sector.
Mrs Kalyanasundaram also highlighted that post-COVID-19, the focus would be mainly on bringing scale to their healthcare initiatives and leveraging technology for meaningful impact through reaching out to a broader audience. Similarly, Dr Kela’s take was that healthcare would be able to adopt technology rapidly opening up many doors and Wadhwani Foundation is looking at a trajectory to support 10000 cos or even, in partnership with govt, up to 20000 – 50000 companies and also add 100 people in healthcare to their workforce.
MedTechConnect and India2022 are committed to fostering collaboration and partnerships to accelerate healthcare innovations. Participants heard about the role of partnerships in accelerating market access for medical innovations and how multi-stakeholder alliances can be instrumental for addressing systemic challenges of the sector.