ICICI FOUNDATION: ADVANCING HEALTHCARE INNOVATION AT IIT BOMBAY WITH IITB-ICICI BETIC HUB

Impact at a Glance

• Among the largest corporate contributions to Indian biomedical innovation.
• IITB-ICICI BETIC Hub: state-of-the-art biomedical innovation centre supporting indigenous medical device development. The Hub will significantly enhance IIT Bombay’s capabilities in biomedical engineering, increasing its space fivefold to 19,700 sq. ft.
• Catalyzes scalable, affordable, and accessible healthcare solutions, impacting over one million lives to date.

Leadership Insight

“This partnership exemplifies how industry-academia alliances can drive innovation towards real-world impact. With ICICI Foundation’s generous support, IIT Bombay is poised to revolutionise biomedical research and technology. It also addresses critical healthcare gaps in India. We aim to deliver accessible, affordable, and scalable home-grown solutions.”

— Prof. Shireesh Kedare, Director, IIT Bombay

“Healthcare is a key focus at ICICI Foundation’s CSR initiatives. India’s unique healthcare challenges — high disease burden, vast rural populations, and affordability constraints—demand indigenous innovations in biomedical, tailored to its needs. Homegrown advancement will not only reduce dependency on imports but also foster cost-effective, cutting-edge medical solutions that can empower healthcare professionals and benefit millions across the country. The partnership between ICICI Foundation and IIT Bombay aims to meet this objective. The ‘IITB-ICICI BETIC Hub’ will facilitate the development of indigenous medical innovations, ensuring affordable healthcare solutions to patients. We are delighted to collaborate with IIT Bombay to drive a meaningful change in the healthcare ecosystem.”

— Mr. Pradeep Kumar Sinha, Chairman of ICICI Bank

Strategic Alignment: Innovation for Nation-Building

The IITB-ICICI BETIC Hub provides a collaborative ecosystem for researchers, clinicians, and industry leaders to develop home-grown medical devices and diagnostic solutions tailored to India’s unique healthcare needs. By funding infrastructure, enabling cutting-edge research, and fostering talent development, ICICI Foundation’s CSR contribution advances India’s self-reliance in healthcare technology, drives entrepreneurial ventures, and delivers measurable societal impact.

Together, IIT Bombay and ICICI Foundation are shaping a future-ready biomedical ecosystem that strengthens India’s health, innovation capacity, and national progress.