Noida: Yamuna Expressway Industrial Development Authority on Wednesday signed an MoU with Medical Excellence Japan (MEJ) to collaborate on research, investment promotion and technology transfer in medical science. The agreement aims to drive innovation and technology exchange in the medical devices industry.MEJ is a leading organisation committed to promoting Japanese healthcare expertise. The Authority’s CEO Rakesh Kumar Singh and CEO of the Japanese company Dr Kenji Shibuya signed the agreement.Singh said according to the agreement, the Authority will contribute by providing the necessary infrastructure, regulatory facilitation and investment support within the Medical Device Park. “This will include land allocation, utilities and policy incentives for the company, while MEJ will bring in technical expertise, facilitate the involvement of Japanese medical technology firms, support research collaborations and assist in knowledge transfer and capacity-building initiatives,” he said.Both parties will explore opportunities for financial commitments in the form of direct investments, joint funding programmes and grants to accelerate the sector’s development.The Authority and MEJ planned a series of activities to enhance collaboration in research and development within the medical devices sector, including sharing information about the devices park as a potential investment destination for Japanese companies.The initiative will also focus on investment promotion by organising activities such as seminars, workshops and trade missions to attract Japanese companies to invest in the park. They will extend support for startups by creating incubation programmes and funding opportunities to support startups in the medical devices sector. This will include organising hackathons, innovation workshops and networking events to foster innovation and entrepreneurship, and facilitating mentorship programmes connecting Indian startups with Japanese industry leaders.“A joint working group will be established to oversee the implementation of this MoU. It will consist of representatives from both parties and shall convene regularly to monitor and assess progress, identify challenges and propose appropriate solutions,” Singh said.The Authority has been developing a 350-acre Medical Device Park in Sector 28 near Noida International Airport with an aim to position the region as a major manufacturing hub for medical equipment in India.
