NITI Aayog and USAID Collaborate to Accelerate Health Innovation and Entrepreneurship in India

What is the news?

Atal Innovation Mission (AIM), NITI Aayog and U.S. Agency for International Development (USAID) announced a new partnership under the Sustainable Access to Markets and Resources for Innovative Delivery of Healthcare (SAMRIDH) Initiative.

What is the SAMRIDH Initiative?

In 2020, USAID and other stakeholders from the Indian government, academia and the private sector developed the SAMRIDH initiative. 

The initiative blended finance facility to combine public and philanthropic funds with commercial capital to create and rapidly scale market-based health solutions.

Note: Blended finance is an approach towards financing where catalytic funding (e.g., grants and concessional capital) from public and philanthropic sources is utilized to mobilize additional private sector investment to realize social goals and outcomes. 

How will the collaboration between AIM and USAID help the SAMRIDH Initiative?

The collaboration aims to improve access to affordable and quality healthcare for vulnerable populations in tier-2 and tier-3 cities, and rural and tribal regions.

It will enhance SAMRIDH’s efforts to reach vulnerable populations by using AIM’s expertise in innovation and entrepreneurship. 

It will also focus on innovations across the healthcare landscape. The common goal will be to mount an effective response to the ongoing third wave of COVID-19 and build health system preparedness for future infectious disease outbreaks and health emergencies.

Source: This post is based on the article “NITI Aayog and USAID Collaborate to Accelerate Health Innovation and Entrepreneurship in India” published in PIB on 8th Feb 2022.