ICICI Foundation to expand BETIC centre at IIT Bombay

Mumbai, July 8 (PTI) IIT Bombay and ICICI Foundation for Inclusive Growth have joined hands to expand the biomedical innovation hub at the premier technology institute.

ICICI Foundation, the CSR arm of ICICI Bank, has pledged Rs 70 crore to set up additional floors at the Biomedical Engineering and Technology Innovation Centre (BETIC) at IIT Bombay and equip this area with advanced facilities, the institute stated.

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

BETIC is the only lab in an academic setting in India with ISO 13485 certification - an internationally recognised quality management system standard for medical devices.

ICICI Bank Chairman Pradeep Kumar Sinha stated that India's unique healthcare challenges - high disease burden, vast rural populations and affordability constraints - demand indigenous innovations in biomedical, tailored to its needs.

"Homegrown advancement will not only reduce dependency on imports but also foster cost-effectiveness. The partnership between ICICI Foundation and IIT Bombay aims to meet this objective," Sinha added. PTI SM NSK