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Coronavirus Outbreak: PGIM India Mutual Fund extends support to manufacture low-cost indigenous ventilators in Kerala

PGIM India Mutual Fund announced on Wednesday that as its contribution to the fight against Coronavirus, the project is providing financial support to Breath of Hope, a unique collaborative effort led by the Government of Kerala that is fully indigenous at cost Produces and produces mechanical ventilators. Only Rs 15,000 per piece.

The project has already successfully built a prototype and is now preparing to go into production rapidly. PGIM India Mutual Fund has provided financial support of more than 10 percent of the total cost towards this path breaking project to help speed up the production process in the first phase. 20 lakhs of assistance at this level, including employee contributions and a matching company grant.

 Outbreak of Coronavirus: PGIM India Mutual Fund provides support for manufacturing of low cost indigenous ventilators in Kerala

Representative image. AP

Ajit Menon, CEO of PGIM India said, “India needs to enhance its healthcare capacity and adequate availability of ventilators will be an important last line of defense and a lifelong necessity in the fight against COVID-19. The Kerala Startup Mission initiative for the production of low-cost indigenous ventilators has shown us interest in our country for its ability to not only increase the supply of ventilators, but also the collaborative, open source approach. We hope that our humble support for this important, best-practice initiative will not only meet an existing need, but also accelerate India’s journey to health-related preparedness. “

Project Breath of Hope is a collaborative effort of the Kerala Startup Mission – the government of Kerala’s nodal agency for innovation and entrepreneurship – established by the state Health Department, various startup companies, and Super Fab Labs in partnership with the renowned Massachusetts Institute of Technology in the state is. (MIT)

The project aims to design, develop and manufacture 5,000 indigenous mechanical ventilators in the next few weeks and deploy them to designated hospitals in rural areas. The project used the Fab Labs and hardware startup ecosystem in the state to invent and design prototypes and has selected a company to produce ventilators.

The project will offer design solutions to other interested manufacturers in an open-source ecosystem so that this low cost and indigenous product can be manufactured locally in sufficient quantities in the future.

PGIM India Mutual Fund is a wholly owned business of PGIM, which is owned by Prudential Financial, Inc. (US) is a global investment management business.

Updated Date: April 15, 2020 21: 0 IST: 20 IST

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