Govt doctors can now form start-ups, hold adjunct positions in firms
This provision is a part of a new policy push by the Indian Council of Medical Research (ICMR)/ Department of Health Research (DHR), which was released on Thursday by the Union Health Ministry.
- Feb 24, 2022,
- Updated Feb 24, 2022 6:29 PM IST
Medical professionals and doctors can now pursue entrepreneurial ventures by forming start-up companies, or by taking adjunct position in a firm, such as by becoming a non-executive director, or scientific advisor.
This provision is a part of a new policy push by the Indian Council of Medical Research (ICMR)/ Department of Health Research (DHR), which was released on Thursday by the Union Health Ministry.
As per the policy, the doctors will also be permitted to undertake inter-institutional and industry projects alone or through companies, license technologies to business entities leading to commercialisation, revenue generation for self-sustenance and also for societal benefit.
The medical professionals will also be permitted to take-up sabbatical for translational and commercialisation of their innovation through their start-up company set-up, albeit with the institute’s permission, the government said.
According to the government, this policy is aimed mainly to enable medical institutions to actively support their personnel to contribute in innovation and entrepreneurship associated activities.
“It is time that India also demonstrates its strength and mettle through research, entrepreneurship and innovative initiatives in the health sector, including medical devices. The policy will motivate, incentivise and give a fillip to all the stakeholders. It will ensure multi-disciplinary collaboration, promote start-up culture and develop an innovation led ecosystem at the medical institutes across the country by promoting Make-in India, Start-Up-India and Atmanirbhar Bharat initiatives of the Government of India,” said Mansukh Mandaviya, Union Minister of Health and Family Welfare.
“They also have ideas for innovations. Till now, these could not get a policy framework and platform for further growth. This Policy will connect the industry, technical institutions and promote commercial translation of these ideas and innovations in the health sector,” he said.
The policy aims to create innovation and entrepreneurship ecosystem at medical colleges/institutes and create a pipeline of healthcare innovations including medical device and diagnostic products in India.
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Also Read: Russia-Ukraine war: Gold prices can go up by Rs 10,000 in the next 2 years
Medical professionals and doctors can now pursue entrepreneurial ventures by forming start-up companies, or by taking adjunct position in a firm, such as by becoming a non-executive director, or scientific advisor.
This provision is a part of a new policy push by the Indian Council of Medical Research (ICMR)/ Department of Health Research (DHR), which was released on Thursday by the Union Health Ministry.
As per the policy, the doctors will also be permitted to undertake inter-institutional and industry projects alone or through companies, license technologies to business entities leading to commercialisation, revenue generation for self-sustenance and also for societal benefit.
The medical professionals will also be permitted to take-up sabbatical for translational and commercialisation of their innovation through their start-up company set-up, albeit with the institute’s permission, the government said.
According to the government, this policy is aimed mainly to enable medical institutions to actively support their personnel to contribute in innovation and entrepreneurship associated activities.
“It is time that India also demonstrates its strength and mettle through research, entrepreneurship and innovative initiatives in the health sector, including medical devices. The policy will motivate, incentivise and give a fillip to all the stakeholders. It will ensure multi-disciplinary collaboration, promote start-up culture and develop an innovation led ecosystem at the medical institutes across the country by promoting Make-in India, Start-Up-India and Atmanirbhar Bharat initiatives of the Government of India,” said Mansukh Mandaviya, Union Minister of Health and Family Welfare.
“They also have ideas for innovations. Till now, these could not get a policy framework and platform for further growth. This Policy will connect the industry, technical institutions and promote commercial translation of these ideas and innovations in the health sector,” he said.
The policy aims to create innovation and entrepreneurship ecosystem at medical colleges/institutes and create a pipeline of healthcare innovations including medical device and diagnostic products in India.
Also Read: Elevated crude oil prices may lead to demand destruction
Also Read: Russia-Ukraine war: Gold prices can go up by Rs 10,000 in the next 2 years