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Updated on: Wednesday, December 22, 2021, 03:29 PM IST

SBI Foundation, Social Alpha launch challenge to support assistive tech startups

The program will extend support towards 10 startups in accelerating their Lab to Market journey
The challenge is structured to support early-stage assistive technology startups to accelerate their lab to market journey through comprehensive support/ Representational image | Photo credit: Gerd Altmann from Pixabay

The challenge is structured to support early-stage assistive technology startups to accelerate their lab to market journey through comprehensive support/ Representational image | Photo credit: Gerd Altmann from Pixabay

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SBI Foundation and Social Alpha today jointly announced the launch of the challenge, Techtonic: Innovations in Assistive Technology, inviting innovators and entrepreneurs working on products and services that address the difficulties faced by people with disabilities and enable them to lead an empowered life.

Challa Sreenivasulu Setty, Managing Director (Retail & Digital Banking), State Bank of India, said: “Through this initiative, we will ensure that Assistive Tech solutions are sustained and scaled up across India. It will encourage next generation of innovators to engage in much-needed R&D of assistive technology.”

The challenge is structured to support early-stage assistive technology startups to accelerate their lab to market journey through comprehensive support that includes:

· Access to Rs 15 lakhs for ideating, prototyping, and growth

· Access to R&D labs for prototyping and infrastructure for scaled-up manufacturing

· Access to mentors, incubation facilities, industry players, and end-users for product testing and business model validation

The challenge focuses on: Visual Impairment, Developmental Disorders & Chronic Neurological Conditions, Locomotor Disabilities, and Speech & Hearing Disabilities.

The program will extend support towards 10 startups in accelerating their Lab to Market journey. Out of these 10, the top 4 startups will receive Rs 15 lakhs along with incubation support for 1 year.

Manoj Kumar, Co-Founder & CEO, Social Alpha, said “The gap between need and affordability of Assistive Technologies is huge, thus making it extremely difficult for persons with disabilities to access the latest innovations. SBI’s longstanding commitment to inclusion, combined with Social Alpha’s expertise in accelerating lab to market journeys of start-ups, will enable entrepreneurs to develop affordable and high-quality solutions to empower people with disabilities live a healthy, productive, and independent life.”

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Published on: Wednesday, December 22, 2021, 03:29 PM IST
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