PGIMER, Chandigarh to allow doctors, students to form startups

The Post Graduate Institute of Medical Education and Research (PGIMER), Chandigarh, is gearing up to launch a policy that encourages its faculty members and students to embark on the development of impactful technologies and products with societal benefits. The policy permits doctors and students to form startups, introducing a fresh wave of innovation within the institution.

The proposal envisions the creation of a private limited company within the institutional framework of the medical facility, in line with the Biomedical Innovation and Entrepreneurship, National Innovation, and Startup Policy, 2019. This initiative is poised to establish an innovation and entrepreneurship ecosystem in medical colleges and institutes, fostering a pipeline of healthcare innovations, including medical devices and diagnostic products.

PGIMER Director Prof Vivek Lal said, “The policy is the need of an hour. We have to exploit and explore the potential of our residents and faculty. We are pursuing it, and soon it will come into force at the PGIMER.”

Under this policy, medical professionals and doctors will be incentivised to explore entrepreneurial ventures by forming startup companies. They can also assume positions such as ‘Company Non-Executive Director’ or ‘Scientific Advisor’. The policy empowers doctors to undertake inter-institutional and industry projects individually or through companies, license technologies for commercialisation, generate revenue for self-sustenance and contribute to societal benefit.

Furthermore, medical professionals will have the flexibility to take sabbaticals for the translational and commercialisation aspects of their innovations through their startup companies, subject to the institute’s approval. The policy, aligned with the Indian Council of Medical Research and the Department of Health Research, seeks to unleash the potential of medical professionals, scientists, and technologists in medical, dental and paramedical institutes. The Tribune