Honeywell Hometown Solutions India Foundation (HHSIF), the not-for-profit arm of Honeywell, has partnered with the Foundation for Science Innovation and Development (FSID), the incubation arm of the IISc, Bengaluru. HHSIF has granted funding of over ₹8.5 crore to more than 40 deep tech-based start-ups and facilitated nine entrepreneurship-in-residence (EIR) programs.
In FY24 alone, HHSIF supported 13 innovations—eight start-ups and five EIR programs—with a focus on agritech, cleantech, healthtech, and greentech initiatives. Out of the ventures supported in this financial year, 50 per cent were in the field of MedTech and 20 per cent were in agritech. In FY25, HHSIF has committed support to seven start-ups and one EIR in allied sectors. HHSIF and FSID have been associated since FY21.
In FY24 alone, HHSIF supported 13 innovations—eight start-ups and five EIR programs—with a focus on agri-tech, clean-tech, health-tech, and green-tech initiatives. Of the ventures supported this financial year, 50 per cent were in the field of medtech, and 20 per cent were in agritech. In FY25, HHSIF has committed to supporting seven start-ups and one EIR in allied sectors. HHSIF and FSID have been associated since FY21.
Adding to the financial assistance under its CSR initiatives, HHSIF also extends research support, technology, human capital, and a global network of high-net-worth individuals (HNIs), angels, venture capitalists (VCs), and a network of micro, small, and medium enterprises (MSMEs) to all its partner start-ups.
Raj Waghray, Head of Entrepreneurship Cell, FSID, IISc, said, “For deep science and deep-tech start-ups, the challenge is in terms of funding. The government grants are not substantial. This is where support from corporate entities like Honeywell comes into play. We get CSR money from these corporates and funnel it out directly to these start-ups. That becomes almost like a seed grant for the start-ups to go and build their products out on. As the start-ups progress, we connect them to angels, VCs, and corporates.”
Some key startups supported through this initiative include Translead MedTech Pvt Ltd, Open MedLabs, Green Collar Agritech Solutions, Rait Setu, NatureWrks Technologies, and Openwater.in, across medtech, agritech, and environment verticals.