Mumbai, April 15, 2020 - ICICI Securities, India's leading retail-led equity franchise
today said, as a part of its CSR initiatives, it has joined hands with the prestigious
Indian Institute of Technology Kanpur as a 'Technology Development Partner', to
develop indigenized, high-end yet affordable invasive ventilators.
The ventilators are essential life saving devices that are critical for COVID-19
affected patients. It becomes critical for a country like India to start designing
and manufacturing completely indigenized and low-cost invasive ventilators. To achieve
this, the country must encourage Indian innovators to come to the fore, especially
IIT-Kanpur, along with Nocca Robotics (a start-up incubated at Start-up Incubation
and Innovation Centre IIT Kanpur - SIIC IIT Kanpur), has created a consortium with
bio-medical engineers, doctors, R & D leaders, supply chain, MedTech business
heads, etc., to develop a completely indigenized, invasive, portable and affordable
mechanical ventilator. Under this fast-track project, by mid-May 2020, the product
will be ready for market, post design, development and testing of prototypes at
"Covid-19 has created a pandemic and has affected the entire ecosystem. While the
research work on diagnosis and cure are being done, the immediate need is ensuring
affordable and low-cost life saving devices. At ICICI Securities, healthcare is
one important area that we focus on CSR. We are happy to partner with IIT Kanpur,
as part of our CSR initiative, in the R&D and testing of prototypes of indigenized,
portable affordable and invasive ventilators. The project team has some of the brightest
technical minds and they have set for themselves a very tight deadline so that the
nation at large is benefitted. We are hopeful that the project meets the expectations
of price and functionality," said Mr. Vijay Chandok, MD & CEO, ICICI Securities.
"At IIT Kanpur, we are doing our bit towards global efforts on fighting the Covid-19
pandemic. We learnt that ventilators will be in short supply as the number of affected
patients rise and our team rose to the challenge by taking on themselves the responsibility
to design ground-up an affordable yet fully functional ventilator. We are happy
to partner with ICICI Securities as a Technology Development Partner to bring this
project to light," said Prof. Abhay Karandikar, Director of IIT Kanpur.
About ICICI Securities
ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company
began its operation in May 1995 and continues to grow its operation through expanding
its client base and providing different type of services.
I-Sec operates www.icicidirect.com,
India's leading virtual financial supermarket, meeting the three need sets of its
clients- investments, protection, and borrowing. Through its three lines of businesses
-- broking, distribution of financial products, and investment banking-- I-Sec serves
customers ranging from the retail and institutional investors to corporates to high
net-worth individuals to government.
I-Sec is listed on National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
For details, visit:www.icicisecurities.com
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