The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, signed a Memorandum of Understanding (MoU) with Pfizer Limited to strengthen India’s healthcare innovation ecosystem. The DPIIT and Pfizer collaboration aims to accelerate the lab-to-market journey of innovative healthcare products by extending both financial and non-financial support to startups. Under the partnership, the Pfizer INDovation program will empower DPIIT-recognized startups with grants of up to ₹60 lakhs each, along with a tailored 18-month incubation program delivered by Social Alpha.
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| DPIIT signs MoU with Pfizer to strengthen India’s healthcare innovation ecosystem |
DPIIT - Pfizer signs MoU to strengthen India’s healthcare innovation ecosystem
The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and Pfizer Limited have signed a Memorandum of Understanding (MoU) to strengthen India’s healthcare innovation ecosystem.
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Under the partnership, the Pfizer INDovation program will empower DPIIT-recognized startups with grants of up to ₹60 lakhs each, along with a tailored 18-month incubation program delivered by Social Alpha.
The program will provide dedicated acceleration tracks covering clinical validation, regulatory approvals, and go-to-market strategies.
Startups will also gain access to expert mentorship, infrastructure, and global networks, in addition to exposure at Pfizer’s Research and Development facilities in Chennai, enabling them to strengthen innovations with advanced industry insights.
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Pfizer’s commitment to enabling Indian startups to develop patient-centric, impactful healthcare solutions tailored to the country’s needs.
Apart from this, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry signed a Memorandum of Understanding (MoU) with ICICI Bank to support startups and innovators across the country.
Aims of DPIIT - Pfizer MoU
The DPIIT and Pfizer MoU aims to accelerate the lab-to-market journey of innovative healthcare products by extending both financial and non-financial support to startups.
The initiative will support 14 pioneering MedTech startups innovating in screening, diagnostics, health monitoring, and treatment enablers, with a particular focus on non-communicable diseases, oncology, brain health, maternal and child health, and immunisation.
DPIIT and Pfizer MoU Signed by
The DPIIT and Pfizer MoU to strengthen India’s healthcare innovation ecosystem was signed by the Joint Secretary, DPIIT, Shri Sanjiv, and Senior Director – Global Policy and Public Affairs, Pfizer India Sharad Goswami, in the presence of senior officials from both organisations.
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About DPIIT
The Department for Promotion of Industry and Internal Trade (DPIIT) was founded in 1995 and later expanded in 2000 through the merger with the Department of Industrial Development.
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It is working under the Ministry of Commerce and Industry, Government of India. This department is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
About Pfizer
Pfizer is an American multinational pharmaceutical and biotechnology company headquartered at The Spiral in Manhattan, New York City, USA. The Pfizer Company was founded in New York in 1849 by German entrepreneurs Charles Pfizer and Charles F. Erhart.
Static Current Affairs related to Pfizer for upcoming exams
- Founded: 1849
- Founders: Charles Pfizer; Charles F. Erhart
- Headquarters: The Spiral, New York City, US
- Chairman and CEO: Albert Bourla
Static Current Affairs related to DPIIT for upcoming exams
- Full form of DPIIT: Department for Promotion of Industry and Internal Trade
- Minister responsible: Piyush Goyal, Minister of Commerce and Industry
- Secretary: Amardeep Singh Bhatia
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