Healthcare Innovation
Govt signs pact with Pfizer to strengthen healthcare innovation ecosystem
This story was originally published at 15:42 IST on 4 September 2025
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NEW DELHI – The Department for Promotion of Industry and Internal Trade signed a memorandum of understanding with Pfizer Ltd. to strengthen India's healthcare innovation ecosystem, the commerce ministry said Thursday in a release. The 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 Department for Promotion of Industry and Internal Trade-recognised startups with grants of up to INR 6 million each, along with a tailored 18-month incubation program. Pfizer INDovation is a collaborative program which brings together Atal Innovation Mission, NITI Aayog, Social Alpha, Foundation for Innovation and Technology Transfer of the Indian Institute of Technology Delhi, among others.
"The program will provide dedicated acceleration tracks covering clinical validation, regulatory approvals, and go-to-market strategies," the ministry said in the release. "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."
On Thursday, shares of Pfizer closed 0.4% lower at INR 5,155 on the National Stock Exchange. End
Reported by Krity Ambey
Edited by Tanima Banerjee
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