Aster DM healthcare and investment firm Life Science Vision Capital along with social entrepreneurship promoter firm Social Alpha jointly to have set up the country's first incubator-cum-accelerator to develop health technology start-ups. The incubator-cum-accelerator, XHealth Innovation Lab, has been set up with an initial corpus of $50 million (nearly Rs 380 crore) for which investors have already given commitment for 60 per cent of the funding, according to a source involved in the venture.
The newly formulated innovation labs will run its own incubator XHealth Innovation Lab and incubate 10 start-ups in each cohort twice a year and develop both scientific and commercial solutions.
Aster DM Healthcare operates as a healthcare company in the Middle East, India, and the Far East. It operates hospitals and clinics, pharmacies, diagnostic centers, educational institutions, and healthcare management and healthcare support systems
