Blockchain For Impact announces USD 15 million fund for biomedical research and innovation in India

As part of the collaboration with IISc, BFI-Biome Network will allocate up to $1 million over three years to drive its Translational Research Projects ranging from TRL 2-4

Blockchain for Impact, the philanthropy initiative by Sandeep Nailwal, has announced a $15 million fund dedicated to advancing biomedical research and innovation in India, under the BFI-Biome Virtual network. The inaugural 1-million-dollar donation from this fund will be given to the prestigious Indian Institute of Science (IISc), over a period of three years, marking the beginning of a transformative journey in healthcare solutions.

The BFI Biome Virtual Network program was officially launched at the IISc Bangalore, and was flagged off with the announced of the inaugural collaboration between the Indian Institute of Science (IISc) Bangalore and Blockchain For Impact (BFI).

The BFI-Biome program, which is the vision of founder Sandeep Nailwal, will support innovative projects in critical areas, including various disease translational research, disease biomarker discovery using multi-omics, AMR, novel diagnostics and devices.

Nailwal said, “Our partnership with the IISc, which includes the inaugural allocation of $ 1 million over a period of three years, marks a significant step towards accelerating transformative healthcare solutions through cutting-edge biomedical innovation. And while funding is one key aspect, our commitment to the cause goes beyond financial support. Through our biomedical research and innovation arm, district-level full-stack partnerships, and process-driven innovation funding and support, we are working towards addressing critical gaps in India’s healthcare infrastructure. And the strategic allocation of overall funds underscores the commitment of BFI-Biome Network to addressing emerging challenges and contributing to advancements in these pivotal fields.”

Designed to bring together leading researchers, technologists, and innovators to collaborate and innovate to drive next-generation of intervention for improved healthcare, the BFI Biome project aims to work closely to fund initiatives that have the potential to revolutionise healthcare delivery in India. BFI aims to act as catalysts, collaborating with partners to forge multi-sectoral alliances that deliver long-term, equitable medical preparedness mechanisms.

As part of the collaboration with IISc, BFI-Biome Network will allocate up to $1 million over three years to drive its Translational Research Projects ranging from TRL 2-4. Additionally, incubators and research networks will have access to funding of up to $225,000 over three years for workshops, fellowships, and kick-starter initiatives.

Prof. Govindan Rangarajan, Director of IISc, emphasised the importance of collaboration in driving innovation, stating, “IISc is delighted to partner with BFI in this endeavour. By harnessing the expertise of our researchers and leveraging the funding support provided by BFI, we aim to accelerate the translation of scientific discoveries into impactful healthcare solutions. This collaboration is an important step in the process of ‘bench-to bedside’. It also exemplifies our continued commitment to advancing knowledge and driving positive societal impact.”

As the BFI-Biome Network takes its first step with the Indian Institute of Science, the journey towards transformative healthcare breakthroughs has only just begun.

Prof. Navakanta Bhat, Dean of Interdisciplinary Sciences, IISc, appreciated the BFI-Biome Virtual Network Program, stating, “The BFI vision aligns with the efforts of IISc to develop scientific solutions for the current healthcare challenges. With the IISc Medical School, IISc will create the next generation of physician-scientists in India by fostering interdisciplinary research, to address the healthcare needs of the world. An access to funding is a pre-cursor towards the achievements of these goals.”