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DPIIT Partners with ICICI Bank & Pfizer to Strengthen Startup and Healthcare Innovation Ecosystem.

Economy Business | Dated: 05 Sep 2025

On September 4, 2025, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MoC&I), entered into two significant partnerships—one with ICICI Bank to support product-based startups and another with Pfizer Limited, the Indian subsidiary of Pfizer Inc., to boost India’s healthcare innovation ecosystem through funding, incubation, and mentorship.

🎯 Key Highlights:

  • - The collaboration between DPIIT and ICICI Bank is designed to accelerate the growth of product-based startups in India. The initiative focuses on providing structured mentorship, access to accelerators, and business development support to strengthen startup operations and refine innovative products.
  • - Under the partnership, ICICI Bank will design and implement the Startup Engagement Programme. This program will be hosted on the Startup India portal, ensuring a structured platform for continuous startup-bank engagement, resource access, and scaling opportunities for early-stage entrepreneurs.
  • - In collaboration with Pfizer Limited, DPIIT will support healthcare-focused startups through the Pfizer INDovation Program. This initiative aligns with India’s growing focus on healthcare technology, fostering indigenous innovation in pharmaceuticals, diagnostics, and medical devices.

💡 Other Important Facts:

  • (i) As part of the Pfizer INDovation Program, selected DPIIT-recognized startups will receive financial grants of up to ₹60 lakh each. These grants are aimed at addressing sectoral challenges in healthcare and accelerating the commercialization of breakthrough solutions.
  • (ii) The program also includes an 18-month incubation track managed by Social Alpha, a prominent incubator. This phase will provide startups with mentorship, networking, and market-access opportunities, ensuring comprehensive support for scaling innovative healthcare solutions in India.

📚 Test Your Knowledge:

Which department under the Ministry of Commerce and Industry recently partnered with ICICI Bank and Pfizer Limited to boost startups and healthcare innovation?

Correct Answer: DPIIT

🚀 Quick Recap:

About ICICI Bank

  • CEO: Sandeep Bakhshi
  • Headquarters: Mumbai