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What is the news?
The Union Minister of Electronics and IT has inaugurated North India’s maiden Centre of Entrepreneurship – “MedTech” at the Sanjay Gandhi Postgraduate Institute of Medical Sciences (SGPI), Lucknow (UP)
What is MedTech?
MedTech is a Center of Excellence that shall provide state-of-the-art facilities to Startups in the field of Medi electronics and health informatics, providing impetus to the startup culture in the state.
Features: The Center shall provide plug and play facilities, co-working/incubation space, High Speed Internet (500MBPS), Medi electronics & Health informatics & IoT Labs, Support on Intellectual Property Rights, Assistance for Marketing among others.
Built by: The Centre has been built by Software technology Park of India, Ministry of Electronics and IT in partnership with Government of Uttar Pradesh.
What is the MedTech Sector?
MedTech (or Medical Technology) is a segment under the larger umbrella of healthcare systems. The segment focuses on designing and manufacturing a wide range of medical products/devices for diagnosis, prevention, monitoring, treatment and patient care.
The Medi electronics sector is currently estimated to be at $10 billion and is expected to grow to $50 bn by 2025. However, there is a tremendous import dependency of around 75-80%.
Source: This post is based on the article “North India’s first Centre of Entrepreneurship in Medi Electronics and Health Informatics to start operations in Lucknow” published in PIB on 17th Dec 2021.
