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Business Incubator Venture Center Backs Two Medical Devices Startups

Pune-based technology business incubator Venture Center said on Tuesday said it has made seed-stage investments in two medical devices startups.

Venture Center has invested in neonatal care startup Sensivision Health Technologies Pvt. Ltd and cancer screening startup Kozhnosys Pvt. Ltd, it said in a statement. It didn’t disclose the amount.

The investment in Sensivision was made under the National Initiative for Developing and Harnessing Innovations-Seed Support System (NIDHI-SSS), an umbrella programme of the government set up by the Department of Science and Technology. NIDHI-SSS offers financial support of up to Rs 1 crore to a startup.

The investment in Kozhnosys was made under the government’s Biotechnology Industry Research Assistance Council (BIRAC) SEED Fund, which offers support to life sciences startups with a funding of up to Rs 30 lakh.

Founded in 2007, Venture Center is the trademark of Entrepreneurship Development Center, a not-for-profit company hosted by the National Chemical Laboratory, Pune. It offers a range of services to technology startups in chemicals, materials and biological sciences segments. It has supported over 350 entrepreneurs and has incubated more than 70 startups so far, the statement said.

Last year, Venture Center through its BIRAC SEED Fund, had backed implant maker SynThera Biomedical Pvt. Ltd. – Vccircle