PSG Center for Biomedical innovation
Preamble
- Innovations in medical procedures are giving rise to new medical devices with high level performance. Despite the current challenges compared to global market, Indian market is facilitating an environment of healthy growth for medical device industry and currently medical devices sector is Asia’s fourth largest market and presents an exciting business opportunity for both domestic and multi-national players.
- The health care manufacturing sector opines that India is beginning to look forward to being recognized as a manufacturing destination for sophisticated medical technology. The advantages that India continues to offer in areas like reduced cost of labor, a high level of technical expertise, and funding from governments for R&D investment to accelerate new product development has made India most favored destinations for medtech innovations and startups.
- Considering the above scenario and the developments, PSG Institutions can take a lead in supporting and promoting innovations and startups in health care sector by creating a collaborative platform between the PSG Institutions.
About the Centre
The PSG Centre for Biomedical Innovations (PSG CBMI) at PSG Institute of Medical Sciences & Research (PSG IMS&R) enables co-creation between startups, academia and healthcare industry with the right kind of clinicians, researchers and patients. The PSG CBMI shall lead and drive innovation activities – strategically and in day-to-day work, in all settings, at all levels. The Centre shall lay the methodical way of handling risks and uncertainties to achieve rapid and continuous translational innovation – from identification of needs and opportunities to clinical and commercial full-scale implementation.
The PSG CBMI will address the following unique challenges in the process of idea to prototype of medical technologies and devices:
- Validating the ideas for its use case
- Validating the ideas in terms of technical feasibility
- Access to facilities related to health care research and product development
- Ethical committee clearances and the clinical trials
- Good practices to be adopted during the trials and concerns to be addressed
- Certification involved in case of Medical Devices
- Involvement of medical practitioners during the stages of product development
- Cost involved in the process of product development
Collaborators
Coexistence of Medical Institution, Hospital, Technical Institution and Incubation Centre is unique in the country. PSG CBMI is a collaborative platform that brings PSG Institute of Medical Sciences & Research, PSG Hospitals, PSG College of Technology and PSG-Science & Technology Entrepreneurial Park together that will create impact amd drive med tech innovations.
1) PSG Institute of Medical Sciences & Research (PSG IMS&R) & Hospital
- PSG IMS&R – a teaching hospital and research institute focuses on promoting cutting-edge, state-of-the-art, socially relevant biomedical research our faculty and students work in a cordial and collaborative manner to develop medical devices and tools that can be practiced in a human-setting and can create an impact in the society.
- The PSG IMS&R and Hospitals will assist the innovators and startups in the healthcare sector to validate the viability of the proposed idea, allocate the domain expert to the team during the complete cycle of execution of the idea, will provide very well-equipped, modern labs at cost basis to carry out the tests and will facilitate the clinical trials.
- For more details: www.psgimsr.ac.in
2) PSG College of Technology (PSG CT)
- PSG College of Technology – the leading technology institution in the country with 15 engineering and technology department and 8000 students has contributed significantly in the areas of research, innovation and entrepreneurship. The Department of Biotechnology (2000) and Department of Biomedical Engineering (2006) had created a vibrant learning and research environment in the areas of Diagnostics, Medical electronics, Medical Data Processing, Analytics, Assistive Technologies, Biomems and Biosensors, Molecular Genetics and Tissue Engineering.
- PSG College of Technology will extend the technology mentoring by faculty members, provide access to laboratories and facilities at PSG College of Technology and share the students as interns to the startups.
- For more details: www.psgtech.edu
3) PSG-Science & Technology Entrepreneurial Park (PSG-STEP)
- PSG-STEP, established in the year 1998 by PSG College of Technology and DST, Govt. of India, focuses on promoting technology based enterprises in the areas of software, electronic products, hi-tech mechanical products, and eco-friendly textile products and bio-technology. PSG – STEP extends incubation support and financial support to innovations and startups involved in developing technology products.
- PSG-STEP will extend the incubation support– Space, Infrastructure, Mentoring, Networking, IP consultancy etc to the innovators and startups, access to mentors – industry, domain experts and investors and will extend financial support to the innovators and startups.
- For more details: www.psgstep.org
Procedure for Registration:
- Read all the Instructions carefully before filling the online application.
- Fill the online application with relevant details.
- Upload the necessary files without fail.
- Make Online Payment (RTGS/NEFT) of Rs.2500/- towards
Application fees and bank details are below:-
Bank : Central Bank of India, Peelamedu, Avinashi Road, Coimbatore – 641004
Account Name : PSG Institute of Medical Sciences and Research
Account Number : 1481224538
Bank IFS Code : CBIN0280913
Bank MICR Code : 641016006
Account Type : Savings A/c.
Swift Code No. : CBININBBCOB