TDB supports M/s Orange Koi Private Limited, Vishakhapatnam for development & commercialization of ‘Metal Injection Molding of Implants, Robotic Surgical Instruments & Devices
TDB-DST paves the road ahead for Startups, supports Vizag based M/s Orange Koi Private Limited for development and commercialization under Start-up Call
Indian start-ups to play a game-changing role in the Indian Medtech sector
Government of India is playing an important role in creating an enabling environment for development of startup ecosystem, where greater emphasis is given to MedTech Startups. The Govt. has come up with the scheme for ‘Promotion of Medical Device Parks’ with the objective of helping medical devices & MedTech companies with easy access to standard testing and world-class common infrastructure facilities.
MedTech is a segment under the larger umbrella of healthcare ecosystem. The segment mainly focuses on designing and manufacturing a wide range of medical products/devices for diagnosis, prevention, monitoring, treatment and patient care. It encompasses a broader scope as opposed to medical devices and includes medical devices with IT connectivity such as smart inhalers, robotic surgery, wireless brain sensors, 3D printing, artificial organs, and health wearables.
The recent Covid-19 pandemic has increased the demand for technologically advanced, high-quality, low-cost medical devices, accessible to the Indian population. These factors are also attracting international companies to set up production facilities in India. The MedTech sector in India which was worth US$ 10.36 billion in 2020, is expected to be US$ 50 billion during 2020–2025. Around 4,000 Indian health-tech start-ups are undertaking multiple innovations, which are helping boost the MedTech market.
Paving the road ahead for MedTech startups, Technology Development Board has approved financial support to Visakhapatnam based startup company M/s Orange Koi Private Limited for their project on “Metal Injection Molding of Implants, Robotic Surgical Instruments & Devices”. The company aims at implementing the Metal Injection Molding (MIM) process for the manufacturing of medical surgical instruments and device components like bone cutters, rongeurs, curettes, castroviejo callipers, haemostatic forceps, allis tissue forceps, crile, alligator surgical forceps, tweezers, scissors spring, metzenbaum wound closure clips, clamps, needles, staplers, surgical accessory spoons, spatulas, catheters, surgical kits dental etc.
MIM is a technology for manufacturing complex, precision, net shape components from either metal or ceramic powder. The potential of MIM lies in its ability to combine the design flexibility of plastic injection molding and the versatility of unlimited choice of material offered by powder metallurgy. The company is led by Dr. Ravi Bollina (an alumnus of IIT Bombay) along with Mr. Deepak Kukreti & Mr. Sasant Nuthakki. The project was received under the Call for Proposal “Commercialization of Indigenous Technologies from Indian Startup Companies” by TDB.
Dr. Srivari Chandrashekhar, Secretary, DST & Chairperson, TDB stated that “Currently, surgical instruments are either imported or made with casting or forging technologies and are not suitable for robotic surgical instruments or for critical care surgical instruments applications. The global surgical instruments market currently comprises of only 2-3 global players namely Johnson & Johnsons, Strykar and Smith and Nephew. We are proud to fund this team of young entrepreneurs, leading the way towards global change.”
Sh. Rajesh Kumar Pathak, IP&TAFS, Secretary, TDB, said that “Technology Development Board, an invisible thread in development of the Indian Health Ecosystem, has funded most of the Indian Healthcare companies in their startup days. In fact, India’s 1st Liver Transplant Facility by M/s Ravindranath GE Medical Associates Pvt. Ltd. and Ist CBCT Radiotherapy system for Cancer Treatment by M/s Panacea Medical Technologies was partly funded by TDB. With such collaborations, we expect many Med Tech startups to come forward with more innovative technologies at affordable cost, available to the world and thus transforming India as the Major Exporter in MedTech Supply Chain”.