February 2022 \ Business & Investment \ BUSINESS AND GOVERNANCE
Two Indian startups win World Bank awards

The solution developed is a low-cost, accurate, automated, portable, contactless, radiation-free and painless cancer screening tool with no known side effects.

The core innovation is a machine learning and AI-based computer diagnostic engine called Thermalytix that uses artificial intelligence algorithms to interpret thermal images and generates a quantitative report for breast health and likely abnormalities. So far, more than 45,000 women have been screened through the startup’s tie-ups with more than 30 hospitals and diagnostic centres across India. “The product can help two billion women in the world to regularly screen for cancer and can potentially save 90,000 lives every year in India alone,” said a release from the Ministry of Science and Technology.

Inn Accel Technologies Pvt Ltd., a recipient of DBT and Bill & Melinda Gates Foundation’s (BMGF) Grand Challenges Exploration--India 2019, was adjudged a winner of the Global Women’s Health Tech Awards for Fetal Lite, a next-generation, AI-powered fetal heart rate (FHR) monitor based on fetal ECG signal extraction technology for mothers in labor or post 37 weeks of gestation.

Fetal Lite has next-gen ECG signal processing and is more accurate, reliable and easier to use than the conventional doppler-based devices. It is European CE certified and has completed two clinical trials of 60 plus patients with excellent results and completed the demo in 30 plus Hospitals. The device can be used for both active and remote monitoring in the in-hospital and in-home settings.

“So far the device has helped doctors to monitor 5,000 cases, including in tribal areas, and has the potential to save 1.2 million lives per year across the world,” the release added. “We are pleased to receive this recognition from the World Bank. It’s a validation of the applicability of our Indian innovation to the world,” said Geeta Manjunath, Founder, NIRAMAI.

“The support from BIRAC has been crucial for our journey of idea to benefitting the patients with European regulatory approval. It is not just funding but mentoring and handholding that has helped us mitigate risks,” said Nitesh Jangir, Co-Founder, Inn Accel.

DBT Secretary, Rajesh Gokhale, said, “I am delighted to hear about this global recognition to two of the startups supported by the department. As a funding agency, these success stories are a validation about the impact we have created by nurturing a vibrant startup ecosystem for solving the pressing challenges being faced by humanity.”

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