Marico Innovation Foundation has invited med-tech entrepreneurs, corporates and innovator to solve the med-tech challenges faced in the on-going COVID-19 crisis with a prize of Rs 2.5 crore, the company said a statement.
It has requested to send entries for Innovate2BeatCOVID having solutions to healthcare challenges as low-cost ventilators/respiratory solutions and Personal Protective Equipment, it added.
"Marico Innovation Foundation is inviting med-tech entrepreneurs, corporates and innovators - in fact, any person - who can who can provide innovative solutions for two of the direst needs today in the country, namely low-cost ventilators / respiratory solutions and Personal Protective Equipment.
"I too, am making a pledge in my personal capacity, making the total grant value to Rs 2.50 crores," its chairman Harsh Mariwala said.
As the pandemic progresses, the grand challenge may expand to other items of critical need in consultation with medical experts, he said.
The number of COVID-19 cases climbed to 1,071 in India on Monday, while the death toll rose to 29, according to the Union Health Ministry.
Sevral corporate houses, including Tata, ITC, and HUL, have announced grant to tackle the pandamic of Covid-19.