Chennai, March 29 (IANS): In order to speedily augment the supply of ventilators and personal protection equipment (PPE) to combat the spread of coronavirus, the Marico Innovation Foundation (MIF) on Sunday threw a challenge #Innovate2BeatCOVID for medtech entrepreneurs.

Teaming up with ATE Chandra Foundation in his personal capacity, MIF founder and Marico Ltd chair Harsh Mariwala announced a grant of INR 2.5 crore for medtech entrepreneurs and others who come up with an innovative solution to bridge the demand-supply gap in ventilators, PPE like masks, hand sanitisers and others and respiratory solutions that can help the medical community in treating coronavirus positive patients and also prevent the spread of coronavirus.

"The time is right for us to step in and play a catalytic role by enabling India's best innovative minds to contribute meaningfully towards easing the healthcare community pressure and help save lives," Mariwala said.

"Through this grand challenge initiative, we are igniting the creative instinct of Indian innovators, who, we are confident, will rise to the challenge of providing novel solutions, which will be affordable, simple, safe, scalable and sustainable," Raghunath Mashelkar, MIF Governing Council Chairperson, said.

According to MIF, the window for innovations is open for 30 days starting March 20.