Aim to deliver 20,000 indigenous, high-quality oxygen concentrators and oxygen plants
Domestic manufacture of oxygen concentrators has received a boost with the Start-up Incubation and Innovation Centre (SIIC) at the Indian Institute of Technology (IIT), Kanpur, raising funding from ICICI Securities, one of India’s leading financial services company, for Mission Bharat O2(MBO2).
Mission Bharat O2 is a step towards the larger vision of SIIC to nurture a self-sustainable healthcare system in India. With this project, SIIC IIT Kanpur aims to make the Indian healthcare manufacturing ecosystem self-reliant.
The project has a three-pronged approach — rapid product development, centralised sourcing and decentralised manufacturing. It aims to deliver 20,000 indigenous high-quality oxygen concentrators and oxygen plants for India’s emergency response to COVID-19 pandemic. MBO2 aims to create decentralised manufacturing pockets where Indian manufacturers will develop oxygen concentrators on a rapid scale.
The corporate social responsibility (CSR) wing of ICICI Securities aims to help the country fight the pandemic. It had earlier joined hands with IIT Kanpur for developing affordable, indigenous ventilators to save lives.
The concentrator cost is at least 40 per cent lower than comparable imported products. SIIC has already selected eight manufacturing partners from 70+ participants who competed to manufacture this indigenous oxygen plant and oxygen concentrators. Product testing has been completed and the daily run rate of 100 units per manufacturer per day is expected to be achieved by June 20, 2021.
The project led by Amitabha Bandyopadhyay, professor in-charge, innovation and incubation, IIT Kanpur, said, “The SIIC team at IIT Kanpur aims to turn the country into a manufacturing hub by supporting cutting-edge research and development and put India on the map of the global manufacturing hubs. The support from ICICI Securities is a much-needed contribution in that direction.”
As a coveted funding partner, ICICI securities’ generous support will pivot SIIC’s efforts towards efficient execution of the Mission Bharat O2.
To know more about the initiative, click here.
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