Partnering with growing tech businesses, boosting R&D prospects, enhancing US sales and market expansion, and exploring collaborations are the key drivers of this deal.
Instashield, a medical device technology startup, has inked a Memorandum of Understanding (MOU) with Montgomery County, Maryland, USA, for expansion into the US Market.
The US India SME Council facilitated this agreement during the Economic Development Trade Mission to India, which featured more than 25 business and government leaders from the United States and was led by Marc Elrich, county executive of Montgomery, MD, and Elisha, CEO of the US India SME Council.
The MOU was officially signed at the US India SME Council Annual 2023 Incredible Inc 50 event in Hyderabad.
The primary goals of this trade mission encompass fostering partnerships with technology businesses focused on growth, promoting research and development opportunities, facilitating sales and market expansion activities in the United States, and exploring collaborations in various sectors such as biotech, healthcare, cyber, AI, and cleantech.
Hitesh Patel, the managing director of Instashield, said, "With our innovative medical device technology, this agreement represents a significant step toward combating against viruses and preparing for any future pandemics on a global scale. We are grateful to both Montgomery County and the US India SME Council for their encouragement and support in promoting startups like us."
Hitesh Patel formally signed the MOU alongside Elrich, with delegations from both the United States and India in attendance. The MOU sets the stage for collaboration in several areas, including providing international soft-landing and economic development programs to support market expansion activities in the US, as well as introducing valuable business networks and resources.
Instashield's medical device technology is engineered to deactivate a wide array of viruses and fungi. The device has been validated by the Centre for Cellular and Molecular Biology (CCMB), Government of India, for its ability to neutralise various viruses, including COV2.
Instashield emits hypercharge high-velocity electrons that specifically target the s-protein of the corona family of viruses, substantially reducing infectivity and curbing airborne and surface-based transmission. The device creates an electron cloud across enclosed spaces, providing coverage over vast areas, starting from 5,000 square feet, and activates within 18 minutes.
Instashield, founded in 2017 by Gaurav Pankaj Shah and Agarwal Sunil Kumar, is a Hyderabad-based medical device startup specialising in disrupting viruses and fungi using negative ion generation.
In a similar development, Mumbai-based Qure.ai, a medical imaging artificial intelligence startup, partnered with USARAD Holdings Inc., a leading teleradiology company from the US, to enhance radiological decision-making.
The three-year collaboration will primarily focus on deploying Qure's chest X-ray AI software, 'qXR.' This advanced solution offers in-depth analysis of chest X-rays, equipping radiologists with the tools to expedite decision-making, allocate resources effectively, and prioritise critical cases by identifying key clinical markers.