T-Hub, a start-up incubator, has announced its strategic partnership with Medtronic, a global leader in healthcare technology. The collaboration marks a leap forward in fostering innovation and growth within India's dynamic health-tech start-up ecosystem, as per a company statement.
This collaboration is anchored by the Medtronic Engineering and Innovation Center (MEIC) in Hyderabad, which is also Medtronic’s largest R&D center outside of the US. With this partnership, MEIC will foster industry collaborations and participate in events like CXO roundtables and innovation workshops to build thought leadership in health-tech R&D, thus ensuring deep immersion into the dynamic landscape of health-tech innovation.
T-Hub’s start-ups will also receive mentorship, sponsorship, and guidance from MEIC, propelling their ventures towards success. In addition, MEIC employees will also have the opportunity to participate in tailored entrepreneurship workshops curated by T-Hub.
Mahankali Srinivas Rao, CEO, T-Hub, said, "Through our partnership with Medtronic, T-Hub continues its mission of nurturing start-ups and propelling innovation within the health-tech sector."
Divya Prakash Joshi, Vice President and Site Leader, MEIC, said, "Through this strategic partnership with T-Hub, we aim to leverage our expertise and resources to empower health-tech startups in India, fostering a culture of innovation and driving sectoral growth.”
With more than 900 engineers, MEIC currently supports many global business units of Medtronic by providing software engineering solutions and other engineering expertise in the areas of embedded and enterprise software, product security, data engineering, systems engineering, mechanical and hardware design, and quality and regulatory. This collaboration is poised to significantly impact and advance the health-tech sector, fostering innovation and contributing to the growth of healthcare technology, as per a company statement.
Healthcare technology start-ups have been increasing in India. There are 10,524 health tech start-ups as of February 2024 (it was 452 in 2016), as per Tracxn. A report by LoEstro Advisors says that the healthcare sector is expected to reach $25 billion by 2025. Some of the top health care start-ups include HealthKart, Innovaccer, and MakeO.
