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Hello Everyone!
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2022 has been a great year for SAMRIDH! From establishing 15 new enriching partnerships to bringing 20 new entities under SAMRIDHs wing to becoming the first Indian entity to win the P3 impact award, SAMRIDH has scaled new heights!
Now as we move further in 2023, team SAMRIDH is gearing up for exciting new opportunities to strengthen India’s rapidly transforming healthcare sector.
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Blended finance is being recognized nationally and internationally as an important approach to unlock greater commercial investments to supplement public resources. For instance - The recent G20 framework has emphasised the use and need for Blended Financing structures as a catalyst to bridge the financing gap in the SDGs, especially in developing and underdeveloped nations. This has helped in bringing new opportunities for SAMRIDH to the forefront across all sectors thereby helping us in expanding our operations and cater to more people through our innovative financing models. At SAMRIDH, we are really excited to see these new avenues coming up and look forward to expanding our reach even further than the last year!
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We are very excited to share that we are committed to #EmbracingEquity within SAMRIDH Blended Finance and we are working towards developing a Gender Lens Toolkit that will help the ecosystem players to ensure gender inclusion when making investment decisions. We recognise the high returns and potential of women empowerment to the industry and the economy, hence we are proud to support and mentor women entrepreneurs who are making accessible healthcare in India a reality.
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Wishing you all a year of good health and happiness!
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Himanshu Sikka
Project Director
SAMRIDH,
Technical Support Unit
at IPE Global
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C.K. Mishra
Former Secretary
Government of India, Health and Environment; and Advisory
Serum Institute, India
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“There have been consistent efforts to make the Indian health systems both resilient as well as strong. However, the government funding alone is insufficient sometimes to close the gap in resources needed to ensure equitable access to healthcare. SAMRIDH uses blended finance to explore public-private partnerships at scale and close the funding gap in a much more strategic way. Through this unique approach, SAMRIDH is able address the unmet needs by building sustainable partnerships, supporting tech-led innovations, and nurturing a fresh outlook to healthcare delivery in India.
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Ford Foundation
SAMRIDH has received a commitment of USD 500,000 for its “grant pool” from Ford Foundation to strengthen India’s comprehensive healthcare services and response to healthcare emergencies like COVID-19. This grant investment will be leveraged by SAMRIDH to create specialised blended financing structures that will de-risk investments in high impact health solutions.
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360 One Foundation
360 One Foundation (formerly known as IIFLW CSR Foundation) has committed ~USD 228,000 into SAMRIDH’s “grant pool”. This partnership is unique as it marks the first time when Indian CSR funds are being used as a risk guarantee towards livelihood generation for underprivileged youth through aspirational skill development training. The grant will be leveraged to mobilize an additional capital of USD 44 Mn from National Skill Development Corporation (NSDC) through risk guarantee and grant incentivization. Additionally, this partnership will also focus on structuring and implementing a social success note that incentivizes both the impact investor as well as the training partners with up to 3% of the loan amount in case of achievement of placement and retention of beneficiaries completing training.
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Rockefeller foundation
Rockefeller foundation has committed ~USD 3,700,000 to SAMRIDH to support expansion and scaling of innovations and projects that contribute to managing the COVID-19 response of India. SAMRIDH will leverage this grant capital to create blended financing structures for high impact solutions working towards mitigating healthcare emergencies, like COVID-19, in the future.
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A Marketplace of High-Impact Health Solutions
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On November 23rd, 2022, SAMRIDH organized a 'Marketplace of High-Impact Healthcare Solutions' - an interactive platform to showcase the new tech-driven health innovations that are playing a significant role in improving healthcare services for India’s most vulnerable populations. The event was attended by Ms Änjali Kaur, Deputy Assistant Administrator, Bureau for Asia, USAID, and other public health experts from multilaterals, philanthropies and financial institutions amongst others.
Featuring breakthrough innovations, including hand-cranked defibrillators, drones delivering life-saving medical supplies to remote regions, portable neonatal CPAP devices, tech-enabled healthcare supply chain ecosystem, and waterless hygiene products for critical care patients – the marketplace provided a unique opportunity to learn more about the health innovations supported by SAMRIDH through its blended finance solutions, technical assistance & business advisory services.
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FEATURED
INVESTMENTS
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Neurosynaptic Communications Private Limited (NCPL)
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Neurosynaptic communications private limited (NCPL) is working towards enabling access to quality and affordable healthcare to the masses though a telemedicine platform called ReMeDi Nova™. With SAMRIDH’s blended finance solution, NCPL estimates a leverage of 2.5x that will help them scale up their business in new geographies and reach new populations. their operations. The geographical focus of this project is mainly public health centres in aspirational districts.
Read more
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Innaccel Technologies Private Limited
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Innaccel Technologies Pvt Ltd is a medical technology company that has developed a respiratory support unit called SAANS. SAANS is a cost-effective, non-invasive and infrastructure independent neonatal CPAP device which maintains respiration and oxygenation in premature neonates in non-NICU hospital setting and during transit. This project was developed at C-CAMP- One of India’s premier incubation cells. With SAMRIDH’s unique blended financing model, Innaccel and C-CAMP aim to leverage 4.5x equity capital for expansion and scaling up operations. This project is estimated to impact over 66,000 children in the state of Assam, one of the top three states with the highest infant mortality rate.
Read more
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Uplift India Association
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Uplift India Association is working towards uplifting the lives of the trucker community of India through a mutual health insurance model that incentivises safe driving. With SAMRIDH’s support, Uplift aims to reduce the financial vulnerability of oxygen carrying truck drivers by offering them with a COVID specific insurance cover - ‘Corona Kavach’ along with a long term comprehensive health insurance via a mutual health insurance design. Uplift is targeting 10,000 truck drivers of oxygen tankers across 15 states of India.
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Hindustan Latex Family Planning Promotion Trust (HLFPPT)
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Hindustan Latex Family Planning Promotion Trust (HLFPPT) aims to strengthen the emergency response infrastructure for future pandemics and health emergencies using a tech-based ambulance aggregation platform. With SAMRIDH’s support, HLFPPT aims to launch Reinforcing Emergency Response System by Aggregating Platform for Community Health (REACH) project that will help in reaching out to 278.12 million people across 134 districts of India.
Read more
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Investee Partner
Achievements
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Aerobiosys Innovations Private Limited
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SAMRIDH-Supported Aerobiosys Innovations Private Limited has won the TECH 30 under TechSparks 2022 – an initiative led by YourStory Media to recognize and reward tech-based innovations. Aerobiosys was one of 30 initiatives shortlisted across India that is disrupting the tech landscape with ground-breaking innovations across the country.
SAMRIDH is supporting Aerobiosys Innovations Private Limited to produce and deploy 200 units of low-cost portable ventilator - Jeevan Lite, in resource-constrained hospitals in semi-urban, tier 2/3/4 towns and rural areas in India.
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Blackfrog Technologies
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SAMRIDH-Supported Blackfrog Technologies recently won the Smart Bio Award, at the Bengaluru TechSummit, instituted by the Department of Electronics, IT, BT and S&T, Government of Karnataka. This award recognizes biotechnology firms that have showcased dynamic leadership and innovative technologies in the areas of biotechnology and medicine.
With SAMRIDH’s support Blackfrog Technologies has doubled its production capacity and set up an integrated supply chain for their product Emvólio , a portable medical-grade refrigerator designed to deploy vaccines under controlled temperatures. Blackfrog aims to strengthen India’s COVID-19 vaccination campaign by improving accessibility to vaccines in remote areas that have inadequate cold chain facilities and unreliable power supplies.
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Inviting philanthropic investments to improve diagnostic services in
India
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IN THE
Spotlight
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Driving Inclusive Growth Through Gender Lens Investing
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2nd March
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On March 2nd, USAID-supported SAMRIDH Healthcare Blended Finance Facility implemented by IPE Global co-hosted a panel discussion with Concordia titled “Driving Inclusive Growth Through Gender Lens Investing”. The panel was led by Ritika Pandey, Associate Director, Health, Nutrition and WASH, IPE Global. The featured panelists included: Neeta Rao, Senior Health Specialist, USAID, Mitali Nikore, Founder Nikore Associates, Suhani Mohan, Co-Founder, Saral Designs and Avishek Gupta, Managing Director & CEO, Caspian Debt. The discussion focused on the role of women entrepreneurs in promoting sustainable and inclusive economic development in emerging economies, the roadblocks faced by women entrepreneurs, the business case for investing in women-led businesses, and pathways to support women-led businesses. The panel also highlighted the importance of the Gender Lens Investing toolkit prepared by SAMRIDH, which considers the challenges faced by women at each stage of the investment life cycle and enables financial institutions to integrate gender focus in the overall investment criteria.
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Read More
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NSRCEL
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15th December | Bangalore
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Achin BN Biyani, Fund Mobilisation Lead at SAMRIDH, participated as a panellist at Impact Orbit Finale by NSRCEL (Nadathur S. Raghavan Centre for Entrepreneurial Learning), the flagship incubator of IIM-Bangalore, on December 15th 2022. The Impact Orbit program supports tech-enabled social innovations that have the potential to create social impact. In the panel discussion titled ‘Blended Finance and Innovative Financing Models for Social Ventures, Mr. Biyani gave his views on the approach and implementation aspect of blended financing structures. He also highlighted the importance of blended finance and innovative financing as key tools needed to create fit-for-impact market instruments which work to create real-time impact on ground. Further, special emphasis was placed on the accessibility and effectiveness of these models in delivering social impact while achieving objectives for ventures and stakeholders.
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Recommended
Reads
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GIIN Impact Report - The GIIN estimates the size of the worldwide impact investing market to be USD 1.164 trillion, marking the first time that the organization’s widely-cited estimate has topped the USD 1 trillion mark.
Read More
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The Sustainable Access to Market and Resources for Innovative Delivery of Healthcare (SAMRIDH), is an initiative under USAID/ India and IPE Global’s Flagship project Partnerships for Affordable Healthcare Access and Longevity (PAHAL) to catalyze innovative financing mechanisms to improve healthcare services for India’s most vulnerable populations.
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To learn more, visit www.samridhhealth.org
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Stay
Connected
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IPE Global House,
B-84, Defence Colony,
New Delhi - 110024
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+91 11 4075 5900
+91 11 4075 5901
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Disclaimer: This newsletter is made possible by the generous support of the American People through the United States Agency for International Development (USAID) under the terms of Cooperative Agreement No.AID-386-A-15-00014. The contents are the sole responsibility of IPE Global Limited and do not necessarily reflect the views of USAID or the United States Government.
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