Marico Innovation Foundation has invited med-tech entrepreneurs, corporates and innovator to solve the med-tech challenges faced in the on-going COVID-19 crisis with a prize of Rs 2.5 crore, the company said a statement.
It has requested to send entries for Innovate2BeatCOVID having solutions to healthcare challenges as low-cost ventilators/respiratory solutions and Personal Protective Equipment, it added.
“Marico Innovation Foundation is inviting med-tech entrepreneurs, corporates, innovators, and any person who can provide innovative solutions for two of the immediate needs today in the country, namely low-cost ventilators / respiratory solutions and Personal Protective Equipment.
“I too am making a pledge in my personal capacity, making the total grant value to Rs 2.50 crore,” its chairman Harsh Mariwala said.
As the pandemic progresses, the grand challenge may expand to other items of critical need in consultation with medical experts, he said.
The number of COVID-19 cases climbed to 1,071 in India on Monday, while the death toll rose to 29, according to the Union Health Ministry.
Several corporate houses, including Tata Group, ITC, and HUL, have announced grant to tackle the Covid-19 pandemic in India.
Billionaire Gautam Adani on Sunday announced a Rs 100 crore contribution by his group’s philanthropy arm to the Prime Minister’s Fund to fight coronavirus outbreak.
“Adani Foundation is humbled to contribute Rs 100 crore to the #PMcaresfund in this hour of India’s battle against #COVID19,” Adani tweeted.
Previously, Reliance Industries had made an initial contribution of Rs 5 crore besides opening India’s first Covid-19 hospital in Mumbai, as also giving free meals through NGOs to the needy and fuel to emergency vehicles transporting infected patients.
(Disclaimer: Additional background information has been added to this PTI copy for context)