Blockchain For Impact Allocates $200 Mn to Boost Healthcare Startups & Biomedical Research
Blockchain For Impact (BFI) has committed $200M to advancing healthcare startups and biomedical research. Previously, BFI invested $6 million to solarize over 25,000 healthcare facilities and $68 million in COVID-19 relief efforts.
Blockchain For Impact (BFI), a philanthropic organization founded by Polygon Co-founder Sandeep Nailwal, has allocated $200 million for upcoming initiatives supporting healthcare startups and biomedical research.
BFI evolved from Nailwal’s Crypto Relief Fund initiative and has directed over $90 million towards biomedical research, healthcare innovation, and climate resilience projects.
The organization recently introduced the BFI-BIOME Virtual Network Program to facilitate biomedical advancements by investing in 46 startups through fellowships, initiatives, and innovator support. The program will also collaborate with over 15 medical colleges, aiming to propel more than 50 research projects.
BFI has previously contributed to significant projects in India's healthcare sector, including a floating hospital in Assam for flood-affected communities, the UNICEF Healthcare Innovation Partnership, and COVID-19 relief funding.
The organization invested $6 million in the SELCO Foundation to solarize over 25,000 healthcare facilities and allocated $68 million to COVID-19 relief efforts.
Future plans include initiatives connecting medical and engineering institutions to develop commercially viable healthcare products and a residency program for Indian biomedical students to gain expertise in European regulations.
