TDK Corporation, GDC-IIT Madras collaborate to launch TIIC Accelerator Program 2024

NEW DELHI: TDK Corporation is partnering with the Gopalakrishnan-Deshpande Center for Innovation and Entrepreneurship (GDC) at Indian Institute of Technology Madras (IIT Madras) to launch ‘TIIC Accelerator Program 2024’. The program intends to promote innovation in the Healthcare Technology and Diagnostics industry among Indian STEM university researchers and businesses.

Michael Pocsatko, senior vice president of TDK and general manager of corporate marketing and incubation headquarters, highlighted the program's unique aspects, saying, “This partnership is an important additional step forward in our long-term commitment to contribute to India's ambitious targets for the growth, innovation and transformation of its economy and society”.

Leveraging India's talent for healthcare innovation

TDK Corporation intends to utilize India's vast talent pool and innovative capacity to drive advancements in healthcare diagnostics, medical devices, and associated fields. The collaboration aims to facilitate breakthroughs in these areas by offering targeted assistance, mentorship, and opportunities for partnerships and investments to support the expansion of promising healthcare technology ventures.

Empowering healthcare technology ventures

Through the 'TIIC Accelerator Program 2024,' TDK Corporation and GDC seek to empower healthcare technology ventures in India by leveraging their respective expertise. By combining TDK's extensive experience in the technology industry with GDC's proficiency in research commercialization and entrepreneurship, the program aims to significantly impact the healthcare technology startup ecosystem in the country.

The Program invites startups from various sectors within Healthcare Technologies and Diagnostics, which includes

• Diagnostic labs, services
• Diagnostic devices – Imaging devices, Therapeutic devices, Sensing devices, Recording devices, and Surgical devices (excluding implants)
• Consumables
• Advanced materials for medical diagnostics and equipment
• Equipment-related services
• Wearables
• Analytics
• Technologies underlying the above – Sensors, IoT, 5G, 3D printing, AI/ML, Advanced Materials, Generative AI, Telemedicine, Robotics, AR,VR, etc.
• Neuroelectronic interfaces

TIIC Accelerator Program 2024: Application begins from June

The program commences with a call for applications scheduled for June 2024. Subsequently, GDC will organize an in-person workshop at the IIT Madras campus for the selected teams or startups. Following this, the teams will engage in an intensive 6–8-week boot camp focusing on customer discovery. In the subsequent phase, a group of shortlisted teams will participate in a Business Mentorship program aimed at making them investment-ready and preparing them for pitching to TDK to secure investments or explore alternative collaboration opportunities.

Speaking about this partnership, Krishnan Balasubramanian, institute professor and faculty-in-charge, GDC-IIT Madras, said, “GDC-IIT Madras’ collaboration with TDK Corporation is an exciting opportunity for us to join forces in supporting innovative startups in the healthcare technology space. By combining TDK's industry experience with our technical expertise and entrepreneurial development support, we aim to empower Indian startups to bring cutting-edge healthcare solutions to market.”