Blockchain For Impact (BFI) Partners with IIT Kanpur to Drive Healthcare Innovation in India

Blockchain For Impact (BFI) and Indian Institute of Technology Kanpur (IITK) Partner to Drive Healthcare Innovations in India

During the COVID-19 pandemic, Blockchain For Impact (BFI) has allocated over $150,000 to support healthcare-focused startups at the prestigious Indian Institute of Technology Kanpur (IITK). This partnership, signed under the BFI-Biome Virtual Network Program, aims to drive innovations and advancements in healthcare in India.

The collaboration between BFI and IITK will focus on promoting entrepreneurial initiatives through the institute’s Startup Incubation & Innovation Centre (SIIC). The goal is to develop solutions that address critical gaps in India’s healthcare sector.

Kantesh Balani, dean of resources and alumni at IIT Kanpur, expressed his excitement about the partnership, stating, “This MoU will help us share knowledge, support startups effectively, and improve our capacity building efforts.”

Gaurav Singh, chief executive of BFI, highlighted the organization’s commitment to addressing critical gaps in India’s healthcare landscape through diverse initiatives in biomedical research and innovation.

The BFI-Biome Virtual Network Program, a $15 million initiative, aims to unite researchers and innovators to drive biomedical advancements. BFI-Biome has also partnered with other top Indian institutes, such as the Indian Institute of Science (IISc), to support research projects in life sciences.

In addition to the partnership with IIT Kanpur, BFI has allocated $900,000 over three years to the Indian Institute of Technology Bombay to accelerate biomedical research across India.

India, known for its aversion to digital assets trading, has shown a growing interest in blockchain technology. Finance Minister Nirmala Sitharaman acknowledged the potential of blockchain technology, stating, “[Blockchain] gives us so many options. It can be used in so many different ways. So we are not against the technology.”

Blockchain technology offers benefits to the Indian healthcare industry, including the ability to tackle large volumes of data and provide security and accessibility through its immutability. A report by PwC, the Bengal Chamber, and Medica Hospitals suggests that blockchain will be introduced in the Indian healthcare industry over time, with key use cases currently being researched.

As India embraces blockchain technology to drive healthcare innovations, the partnership between BFI and IITK marks a significant step towards revolutionizing the healthcare sector in the country.