Andhra Pradesh Economic Development Board (APEDB) officials have met key players of Swiss-based Med-Tech Innovation Partners (MTIP) and discussed possibilities for creating a global ecosystem for med-tech innovations in the state.
Med-Tech Innovation Partners is a Swiss-based venture investor which specialises in the healthcare sector and focuses on medical devices and diagnostics as well as digital health and healthcare services. MTIP has agreed to create a similar innovation park in Andhra Pradesh which is aimed at creating an ideal environment for advancing and validating academic, seed-stage and corporate R&D projects. MTIP will also set up a similar ‘innovation ring’ in Andhra Pradesh, the official said.
MTIP has been instrumental in building the Swiss Innovation Park, an independent catalyst for innovation in biotech and biomedical engineering, sciences, and technologies. Med-Tech Innovation Partners also manages a MedTech Venture Capital Fund called ‘MTIP Fund I, SCS’, according to J Krishna Kishore, chief executive officer of Andhra Pradesh Economic Development Board.
Andhra Pradesh Economic Development Board officials visited the innovation clusters in Switzerland and interacted with key players of MTIP and apprised them of the high impact development activities that the Andhra Pradesh is undertaking, an APEDB official said.
“Andhra Pradesh is delighted to have MTIP set up an ecosystem for medical technology innovations. This would be a game changer for Andhra Pradesh … ,’’ Kishore said.