Omidyar Network, the philanthropic investment firm of eBay founder, Pierre Omidyar, is making a $1.5 million grant to a global consortium supporting innovation in healthcare and medical technology. The grant has been made to Massachusetts General Hospital's Center for Global Health to support the Consortium for Affordable Medical Technologies (CAMTech).
CAMTech is a global consortium of academic, clinical, corporate and implementation partners working to accelerate affordable medical technology development and commercialization for low and middle-income countries (LMICs).
"Omidyar Network continues to play a key role in developing the entrepreneurial ecosystem in India, we plan to invest up to $200 million by 2015 in the country, of which we have already invested/ given as grant close to a $100 million. We are keen to find more innovative entrepreneurs and help support them", Jasjit Mangat, Director for Investments, Omidyar Network told TOI. The investment firm has also invested as an early stage VC in companies in India over the last couple of years.