T-Hub, renowned as India’s premier startup incubator, has unveiled a strategic partnership with Medtronic, a global leader in healthcare technology. This collaboration represents a significant stride in nurturing innovation and fostering growth within India’s vibrant health-tech startup ecosystem.
Central to this partnership is the Medtronic Engineering & Innovation Center (MEIC) located in Hyderabad, also recognized as Medtronic’s largest Research & Development (R&D) facility outside of the United States. Through this alliance, MEIC will cultivate industry synergies and actively engage in initiatives such as CXO roundtables and innovation workshops, aiming to establish thought leadership in health-tech R&D. This concerted effort ensures an immersive dive into the ever-evolving landscape of health-tech innovation. T-Hub’s startup ventures will gain invaluable mentorship, sponsorship, and expert guidance from MEIC, propelling their journey towards success. Additionally, MEIC personnel will have access to tailored entrepreneurship workshops curated by T-Hub, fostering a culture of innovation within Medtronic.
India’s health-tech sector has experienced exponential growth, boasting a burgeoning ecosystem of over 8,000 startups valued at approximately $2 billion and expanding at a remarkable rate of nearly 40%. With projections indicating a market value of $5.5 billion by 2025, the partnership between T-Hub and Medtronic is poised to accelerate this growth trajectory significantly.
Mahankali Srinivas Rao, CEO of T-Hub, emphasized, “Through our collaboration with Medtronic, T-Hub remains steadfast in its mission to nurture startups and drive innovation within the health-tech domain. Together, we are poised to catalyze the growth and amplify the impact of health-tech startups, paving the way for a brighter and healthier future for all.”
Echoing this sentiment, Divya Prakash Joshi, Vice President & Site Leader at MEIC, remarked, “At Medtronic, we are deeply committed to fostering innovation and advancing healthcare outcomes on a global scale. For over a decade, MEIC has been at the forefront of driving excellence in global healthcare from Hyderabad, with our dedicated team of engineers translating innovative ideas into solutions for improved patient outcomes. Through this strategic partnership with T-Hub, we aim to harness our expertise and resources to empower health-tech startups in India, fostering a culture of innovation and driving sectoral growth.”
Currently housing over 900 engineers, MEIC extends support to various global business units of Medtronic, offering software engineering solutions and expertise in areas such as embedded and enterprise software, product security, data engineering, systems engineering, mechanical and hardware design, as well as quality & regulatory domains. This collaborative endeavor is poised to make a significant impact on advancing the health-tech sector, driving innovation, and contributing to the evolution of healthcare technology.
