Mutual fund
distributorPGIM India on Wednesday said it has provided financial support for manufacture of indigenous ventilators in Kerala under a collaborative effort led by the state government.
As part of its contributionsin the fight against coronavirus pandemic, the company was providing over 10 per cent of the overall cost towards project "Breath of Hope to design and produce fully indigenous mechanical ventilators at the cost of Rs 15,000 a piece, a release said here.
The project has successfully created a prototype already and was preparing to get into rapid production now.
Its assistance of Rs 20 lakh at this stage comprises employees' contribution and a matching company grant, the release added.
PGIM India Chief Executive Officer Ajit Menon said the country needed to ramp up its healthcare capacities and sufficient availabilityof ventilators will be critical in the last line of defence and a life saving need in the fight against COVID-19.
The Breath of Hope is a collaborative effort of Kerala Startup Mission, the state's Nodal Agency for Innovation and Entrepreneurship, the Health Department, various startup companies and the Super Fab Labs set up in the state in partnership with the famed Massachusetts Institute of Technology, the release said.
The project's objective was to design, develop and manufacture 5,000 indigenous mechanical ventilators in the next couple of weeks anddeploy them in designated hospitals in rural areas.
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