Andhra Pradesh MedTech Zone (AMTZ) has signed a Memorandum of Understanding (MoU) with Indian Institute of Technology-Bombay (IITB) to accelerate medical device innovation and commercialisation within the country.
“This partnership will contribute positively towards the development of the overall medical technology ecosystem in the country. New product development, research, government policy promotion will also receive a boost with this partnership between industry and academia,” AMTZ said.
As part of the MoU, IIT-Bombay would provide AMTZ with access to laboratories, training programs and talent. Startups in the field of medical technology which are part of the IITB incubator program will also benefit from the large integrated ecosystem being provided by AMTZ.
The MoU was signed by Jitendar Sharma, CEO, AMTZ and Petety V Balaji, Dean-R&D, IIT-Bombay.
AMTZ is setting up India’s first ultra-modern medical equipment manufacturing ecosystem in Visakhapatnam. The 270-acre business park would include facilities such as component testing centre, electro-magnetic interference laboratory, medical grade low vacuum molding, cabinet molding, injection molding centres, 3D designing and printing for medical grade products, sterilization and toxicity testing centre, radiation testing centre, gamma irradiation facility, rapid prototyping centre, warehousing and regulator’s office.