IISc & BFI Partner to Boost Biomed Research in India

The partnership between IISc and BFI is laying the foundation for a series of collaborations in the field of biomedical research and innovation.

Blockchain For Impact (BFI), a healthcare fund established during the second wave of the COVID-19 pandemic in India, has joined forces with the Indian Institute of Science (IISc) to propel biomedical research and innovation in India.

Reportedly, the BFI has also invested $1 million for three years in the BFI-Biome Virtual Network Programme. This initiative aims to support collaborative projects that translate research outcomes into tangible healthcare solutions.

BFI-Biome, formed in partnership with the Indian Institute of Science (IISc), will support selected research projects in life sciences led by IISc faculty, with an annual expectation of assisting two to three projects.

Collaboration to Boost Biomed Research & Innovation

According to Sandeep Nailwal, founder, BFI, the BFI-Biome initiative seeks to foster collaboration with prominent researchers, technologists, and innovators to address critical gaps in India's healthcare infrastructure.

In agreement with Nailwal’s outlook, Gaurav Singh, CEO, BFI, said, "Through our biomedical research and innovation arm, district-level full-stack partnerships, and process-driven innovation funding and support, we are working towards addressing critical gaps in India's healthcare infrastructure."

The partnership between IISc and BFI is laying the foundation for a series of collaborations in the field of biomedical research and innovation. BFI-Biome Virtual Network Programme will play a pivotal role in supporting research projects with the potential to contribute significantly to healthcare solutions.

Sharing thoughts, Navakanta Bhat, dean, Interdisciplinary Sciences at IISc, said, "With the IISc Medical School, IISc will create the next generation of physician-scientists in India by fostering interdisciplinary research to address the healthcare needs of the world. Access to funding is a precursor towards the achievements of these goals."

Blockchain Technology in Indian Healthcare

India has embraced blockchain technology in its healthcare sector, recognizing its potential for speed, security, and accessibility. Finance Minister Nirmala Sitharaman noted that the use of blockchain technology in the country is expected to rise by about 46% in the coming years. The large volume of data processed by the healthcare industry has led to the adoption of blockchain for accurate and secure medical records.

Moreover, Blockchain's immutable nature ensures the integrity of medical records, providing accurate information for both patients and doctors. This is particularly beneficial for patients who relocate frequently, allowing them to securely store past prescriptions and medical reports on the blockchain for access in any hospital, city, or country.

Gokuldas Tejpal Hospital in Mumbai is already utilizing blockchain technology in its operations. Premier institutes in India, including the Indian Institute of Technology in Madras, are actively researching various blockchain use cases to enhance the country's healthcare infrastructure.

BlockTrack, a blockchain-based mobile phone application for medical data and information exchange, has been developed by the Indian Institute of Technology in Madras.

Reportedly, the Uttar Pradesh government in northern India has approved over 100 research studies by premier educational institutes, such as the Indian Institute of Technology in Kanpur, focusing on AI and blockchain applications in sectors including healthcare and renewable energy.

These initiatives aim to develop applications for medical benefits, including the early detection of throat cancer among tobacco consumers.

Blockchain For Impact's investment in the BFI-Biome Virtual Network Programme reflects a commitment to advancing healthcare solutions in India through cutting-edge biomedical research.

The collaboration with the Indian Institute of Science signifies a strategic approach to leveraging technology to improve healthcare infrastructure, address critical challenges, and foster innovation for a healthier nation.

In another investment development in medical research, in November last year, Bengaluru-based startup Vizzhy Inc. invested $12.5 million in the University of Illinois Urbana-Champaign to address metabolic disease research. With this investment, the startup is set to explore new avenues in disease management.