Sandeep Nailwal's Philanthropic Initiative, Blockchain For Impact, Announces USD 15 Million Fund For Biomedical Research

Kicks off the BFI-Biome Virtual Network Partnership initiative with an inaugural USD 1 Million with the Indian Institute of Science, Bangalore

Sandeep Nailwal's Philanthropic Initiative, Blockchain For Impact, Announces USD 15 Million Fund For Biomedical Research
Dr. Gaurav Singh on left and Prof. Govindan Rangarajan, Director IISc
15 February 2024

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 event witnessed the presence of esteemed dignitaries including the Director of IISc, Prof. Govindan Rangarajan, Dean of Interdisciplinary Sciences, Prof. Navakant Bhat, Chair of the Office of Development and Alumni Affairs (ODAA), Prof. KJ Vinoy, and other notable members from their Office of Research Grant (ORG). Additionally, representatives from BFI including Dr. Gaurav Singh, CEO, Dr. Pooja Agrawal, Program Director, and Dr. Satya Prakash Dash, Senior Advisor, were present.

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. Expressing his delight, Mr. Sandeep Nailwal, founder and visionary behind Blockchain For Impact, 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 revolutionize 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, emphasized 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.”

The announcement of the partnership between IISc and BFI lays the foundation of a series of collaborations that will add to the future of biomedical research and innovation in India. Through this partnership, BFI aims to establish itself as a key player in the Indian translational research ecosystem, driving positive change in healthcare ecosystem.

For more information about the BFI-Biome Virtual Network Program and the collaboration with IISc, please contact:

About BFI-Biome Network

BFI-Biome Network is a philanthropic initiative led by Sandeep Nailwal, dedicated to advancing biomedical research and innovation in India. The network brings together leading researchers, technologists, and innovators to collaborate and innovate, transcending traditional boundaries and driving transformative health solutions.

About ‘Blockchain For Impact’ (BFI):

Blockchain for Impact was set up during the 2nd wave of COVID pandemic in India, was created to help support those in need of help. As the world’s most transparent healthcare fund, BFI initially worked towards strengthening the Indian healthcare system through a sustained supply of medical equipment, vaccines, and relief kits. However, after the COVID wave, the focus transitioned towards early identification and prevention activities which sufficed in capacity building, genome sequencing, adding hospital beds, vaccination, and awareness campaigns.

What started as a Samaritan in emergency response has now transitioned towards a system that is involved in introducing programmatic interventions across the public health space at micro and macro levels. BFI aims to utilize skills, commitment, and technology to address current challenges and future gaps centred around health to help the marginalized and the vulnerable. With a special focus surrounding Biomedical Research and Innovation, BFI’s District-level Full Stack Program, Process-driven Innovation, and Relief work, BFI has been devised for pre-empting, predicting, and preparing India’s healthcare system for the inevitable pandemics.

From devising emergency relief measures to bringing programmatic interventions with long-term decision-making in perspective, ‘Blockchain For Impact’ remains driven towards improving the well-being of the marginalized across various priorities in the public healthcare space and aims to become a holistic support system for the future of Indian healthcare.

About Indian Institute of Science (IISc)

The Indian Institute of Science (IISc) is a premier institute for scientific research and higher education located in Bangaluru, India. Established in 1909, IISc has consistently been at the forefront of scientific innovation and has played a pivotal role in shaping the landscape of research and education in India.

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