S&T Minister launches Global Health Innovation Fellowship to promote medtech start-ups

India's government is trying to make it as easy as possible for its young people to start their own businesses.

The country's Department of Biotechnology has launched the Global Health Innovation Fellowship, which is open to innovators from "low- and middle-income countries," the Times of India reports.

"The aim is to foster collaboration and knowledge exchange among young professionals from diverse countries," says Rajesh Gokhale, secretary of India's Department of Biotechnology.

So far, 157 applications have been received, and four have been selected for the fellowship, which lasts two years and includes a $100,000 stipend, reports the Indian Express.

The government hopes the program will boost the country's bio-economy, which it says can support more than 10 million jobs by 2025.

"Every day, three biotech start-ups are getting incorporated in India with aspirations to provide viable technological solutions," says Jitendra Singh, minister for science and technology.

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