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An unprecedented damage has already been done by the COVID-19 this year. The entire world is now facing the economic damage caused by the deadly virus.
The consequences of a combined health pandemic and a global recession will be catastrophic for many developing countries and halt their progress towards the Sustainable Development Goals - UN
The United
Nation (UN) is calling for a USD 2.5 trillion rescue package for the developing
nations out of which
$1 trillion should be made available through the expanded use of
special drawing rights
$1 trillion of debts owed by developing countries should be
cancelled this year
$500 billion needed to fund a Marshall Plan for health recovery
and dispersed as grants
According
to the new analysis from United Nations Conference on Trade and Development
(UNCTAD), the UN trade and development body titled ‘The COVID-19 Shock to
Developing Countries: Towards a ‘whatever it takes’ programme for the
two-thirds of the world’s population being left behind’, commodity-rich
exporting countries will face a USD 2 trillion to USD 3 trillion drop in
investments from overseas in the next two years.
According to the UN
report, Even so, the world economy will go into recession this year with a
predicted loss of global income in the trillions of dollars. This will spell
serious trouble for developing countries, with the likely exception of China
and the possible exception of India.
As the Corona outbreak continues, the government of India is also taking all necessary steps to control the spread of Covid-19. The stringent measures like complete lockdown for 21 days, though has helped to control the spread. However, to ensure that India is prepared well for any future threat, the government is also looking forward to the innovative solutions for Covid-19.
Furthermore, the government is also encouraging, Startups,
Entrepreneurs, and companies to come up with innovative solutions, Bioinformatics,
datasets, Apps for diagnosis, etc. for strengthening the fight against Corona.
Which companies & Government Institutions are inviting
applications?
C-CAMP
C-CAMP is inviting Startups, innovators, and entrepreneurs
who can help fight Covid-19 with their innovations.
Cellular and Molecular Platforms (C-CAMP) is a special
COVID-19 focused accelerator set up in collaboration with the United Nations
Health Innovation Exchange (UNHIE) and Social Alpha. Amid Covid-19 pandemic the
C-CAMP is inviting Startups, innovators, and entrepreneurs who can help fight
the pandemic. The Special Covid focused accelerator is also called
"COVID-19 Innovations Deployment Accelerator" (CIDA)
The Innovations from the players should be under the following categories: diagnostics, vaccines, screening, containment strategies, therapeutics, public health & other relevant technologies.
According to a statement, the C-CAMP has set no specific last date to submit the applications. The received applications are being assessed daily in batches for scientific validity, market readiness, feasibility and impact
Startup India
The department for promotion of industry and internal trade
(DPIIT) and Startup India are seeking innovative solutions from startups to
fight the Covid-19 crisis. There is a competition for startups, entrepreneurs,
and companies to come out with creative solutions to fight Corona virus.
"We are building a one-stop repository of innovative
solutions for ready access by the government and the private sector for further
development and deployment," Startup India said.
According to Startup India, after analysing the feasibility
and quality of the innovations, the top solutions will be identified and
recognised. Besides, Startup India will also refer the innovative solutions to
the government and private stakeholders for further funding and deployment.
The solutions can be in the areas of low-cost innovative masks which can capture virus from the air and absorb respiratory droplets. The innovators can also come up with cost-effective thermal scanning devices, medical equipments like ventilators and protective gear for healthcare professionals.
You can Apply before April 15, 2020 at the official website link
Covid-19 Innovation challenge by Telangana Government
T-Hub has announced a Covid-19 Innovation Challenge in
partnership with Q City and Telangana government.
The purpose of this innovation challenge is to inspire and motivate students to come up with unique ideas to fight Corona virus. The programme also aims at empowering the student innovators to get mentorship from renowned subject matter experts. The students will also get assistance in transforming their ideas into business propositions from T-Hub and CCMB (The Centre for Cellular & Molecular Biology).
The call for applications is open until 20th April and you can apply online at the official website
Marico Innovation Foundation invites ideas to combat Corona
Marico Innovation Foundation (MIF) has launched
#Innovate2BeatCOVID, a challenge that will offer grants worth 2.5 crores for
the innovative ideas. MIF and Marico's chairman Harsh Mariwala is looking for
cost-effective ideas for making ventilators, protective equipment, innovative
products, and services that can assist in dealing with Covid-19.
Technology Development Board (TBD) & Department of
Science & Technology (DST) inviting Innovative solutions for COVID-19
The DST & TBD also invited proposals on COVID-19 &
related respiratory viral infections
The solutions can be in the areas of low-cost innovative
masks which can capture virus from the air and absorb respiratory droplets. The
innovators can also come up with cost-effective thermal scanning devices,
medical equipments like ventilators and protective gears for healthcare
professionals.
Other areas of innovation include large area sanitization and sterilization, Bioinformatics and Surveillance, Rapid and Accurate Diagnosis kit (paper-based and other points of care devices) or any other related technology.
Proposals submitted online via TDB website www.tdb.gov.in on or before 27th March 2020.
Conclusion
During any viral pandemic, the protection of the general
population is the priority of any government.
The system needs suitable devices
for screening and detection, efficient clinical masks and sanitisers, home
based ventilator systems to complement healthcare facilities.
Many other
products and technologies are also required at the same time to monitor and
control the spread of diseases.
The need of the hour is to have enough medical equipment like ventilators and protective gears for healthcare professionals. Therefore the government is looking for innovators to come up with innovative solutions that are cost-effective as well as of high quality.
COVID-19 is not only impacting the health of the people worldwide but also has a more significant impact on the economy and travel industry mainly. It has taken a toll on every industry, but travel and tourism have been the worse hit. With no airlines operating throughout the world, and all of us should stay at home, going out on an expedition is a far thought.
Losses Incurred by the Indian Travel Industry
According to the World Travel and Tourism Council, about 50 million people may lose jobs in the travel and tourism industry.
The tourism industry accounts for about 10% of the total global GDP. It may take about 10 months for the industry to recover after the world recovers from this pandemic, which seems unlikely as of now.
Image Courtesy: Image by Richard Mcall from Pixabay
Moreover,
the stocks related to the travel and tourism industry dropped down by a
whopping 70% for this year in these few months.
With the suspension of domestic as well as international flights amid COVID-19, the Indian travel industry is being greatly affected.
In the
wake of the COVID-19 outbreak, WTTC has urged governments to follow certain
measures like:
Providing Fiscal support to global travel and tourism industries, and extending unlimited interest-free loans.
Inject liquidity and cash in the Travel and Tourism Industry
Protecting the livelihood of employees of the tourism sector
Measures that are taken by the Indian Government
Indian Government is also working for the best interest of the general public and the economy as a whole. Finance Minister Nirmala Sitharaman has announced a relief package amounting to 1.7 Lakh crores.
In addition to these measures, the (Reserve Bank of India) RBI, is providing three-month EMI relaxation on loan repayments so that the livelihood of the poor and middle segment can be secured amid COVID-19 pandemic.
Furthermore, RBI has also reduced the repo rate by 75 points, CRR by 100 points to free up liquidity. More relief packages for worst-hit sectors like the Travel industry are still worked upon by the government.
Some Suggestions
The measures mentioned above may not be enough therefore the government need to keep looking for better means to ensure COVID-19 pandemic doesn't take away the will to live.
Here are some of the suggestions by industry leaders and economists on the same:
SpiceJet CMD and WTTCII President Ajay Singh advised the government to urge domestic and international tourists to disseminate the message of 'Postpone Travel, don't cancel' on Incredible India website.
'For the first couple of months, this could potentially be handled through mandatory leave and leave-without-pay initiatives for 1-2 months' is stated by a CAPA report.
Apart from this, economists suggest getting rid of the pandemic quickly with 'Whatever-it-takes' approach. To prevent economic slowdown, governments need to focus on bringing bankruptcies down to ensure they have money. "This is the time to bring out the big artillery; this is not a time to be timid, but to do whatever it takes, fast." they said.
Other
measures may include tax relief, gaining from inheritance tax and
imposing relaxation on other taxes like buyback tax and Foreign Portfolio
Investment (FPI) can help out in balancing the economic slowdown and further
help the travel industry to recover.
Financial
and political commitments are the only reliable key to ensure the
revival of the tourism industry. UNWTO has joined hands with WHO and calls on
governments to include tourism as a priority sector in COVID-19 recovery
plans and actions.
The government is planning to allow domestic and international flight operations in India in a staggered manner after lockdown period.
According to the Aviation Ministry officials, airlines are
free to take bookings for any date post April 14, 2020.
The 21 day lockdown ends on April 14, if
everything goes well.
The Narendra Modi government
announced a 21-day lockdown starting from March 25 to control spread of the Covid-19.
As a result, all domestic and international commercial passenger flights were also
suspended for this time period.
Deeper revenue impact of the COVID-19 pandemic on the global air transport industry
The corona virus pandemic has left the airlines in lurch as the revenues have fallen significantly. The aviation sector is one of the worst affected sectors because of Covis-19.
Because of Corona Virus, all the airlines are impacted and have announced various cost cutting measures including pay cuts. While Indigo and Spicejet have announced up to 30% pay cut, Vistara has asked many of its employees to go on leave without pay.
Similar measures of pay cut and leave without pay, were taken by Goair Air Deccan seems to be hit hard by the lockdown and have announced indefinite suspension of flight operations. The company also asked all the employees to go on sabbatical without pay.
Airlines Open Flight Booking from April 15
In a hope that the pandemic impact will
subside soon, the major airlines are taking domestic bookings for dates post
April 14. However, Air India is taking bookings for
dates post April 30 only.
Air Deccan is not taking any bookings as of
now and it is not clear when it would restart operations.
"As the virus is still spreading in India, we are thinking to permit domestic and international flight operations post April 14 in a staggered manner.
Airlines are free to take bookings for any date post April 14," a senior Civil Aviation Ministry official said.
"However, if the lockdown is extended post April 14, airlines will have to cancel the tickets booked for that time period," Aviation Ministry Official.
Many nations have appreciated the swiftness that India showed in dealing with the Coronavirus. However, due to some careless citizens of its own country, who didn’t follow the lockdown guidelines, the rates of cases and mortality have exploded multifold.
According to the World Health Organization, the future course of the outbreak depends on India’s ability to contain the virus.
The government of India has set up a COVID-19 committee headed by NITI Aayog to ensure the control of the spread of Corona in India. The aim is to tie-up with healthcare companies that can provide innovative and cost-effective solutions to fight COVID-19.
Therefore, NITI Aayog has invited eight startups to be part of COVID-19 Committee. They would be responsible to produce health equipment and Personnel Protective Equipment (PPEs).
List of Eight Startups Working on Innovative Healthcare Solutions:
AgVa
The government has reached out to the Noida based company to manufacture 5,000 ventilators by April 15 to help hospitals facing a shortage of equipment across India. The regular ventilator used across different hospitals in India costs somewhere between Rs 4-5 lakhs. However, the device manufactured by AgVa is priced between Rs 1.5 lakhs to Rs 2 lakhs. The company has assured the government to provide high-quality ventilators at a very economical price. In addition to the price advantage, the ventilators made by AgVa are portable in size that resembles an electronic tablet as compared to the traditional heavy and bulky ventilators.
Portable Ventilator from AgVa
Founded in – 2017
Founders – Diwakar Vaish and Dr Deepak Agrawal (Co-Inventor)
Biodesign Innovation Labs, based in Bengaluru, is known for its innovative portable ventilator, RespirAID. The device manufactured by the company stabilises the patient during a respiratory arrest by mechanically providing intermittent positive pressure ventilation at specific desired ventilator parameters. The low-cost ventilator, hence, fits the bill.
Founded in – 2017
Founders – Late Adithya Pasupuleti (Co-Founder) and Gautham Pasupuleti (Co-founder)
The Bengaluru-based company works on deep tech and IT-based solutions. It has two significant products into its Krooze ADAS and KOUNT Traffic.
KROOZE Advanced Driver Assistance System (ADAS) provides multiple benefits for fleet operators, owners, drivers and riders from purpose-built hardware or a proprietary App running on an Android platform.
KOUNT Traffic: It is a radically new approach at doing complex analysis such as computer vision without needing to stream video data over 4G or fibre optic networks. This system is to make urban transportation safer and cities less congested and more livable.
Qure.ai is one of the leading healthcare AI startups in India. The company uses artificial intelligence to make healthcare more accessible and affordable.
Solutions for COVID-19 from Qure.ai:
COVID-19 progression monitoring tool – qXR &Pandemic Response Care Platform – qScout are used for tackling Coronavirus cases. These tools have the following advantages;
Source: qure.ai website (qXR)
Monitor progression of infected patients via daily bedside chest x-rays
Automated overread in seconds without burdening the radiology team
Estimates percentage area of the lung and tracks change with each chest X-ray
Collates information from qScout-EMR and qScout-Monitor and Map hotspots for COVID-19
Founded in - 2016
Founders - Prashant Warier (Co-Founder) and Pooja Rao (Co-Founder)
DronaMaps is geographic information systems to improve digital maps.
Currently, DronaMaps is working with the department of IT and communications, Haryana, to help map the infected and quarantined citizens using drone tech and analytics. DronaMaps has developed a live dashboard to track COVID-19 patients and their activities in the quarantine situation.
It will help in finding out positive cases, suspected cases, quarantined individuals, and the ones who are in the hospitals.
Founded in – 2016
Founders – Utkarsh Singh (Co-Founder) and Ayushi Mishra (Co-Founder)
Mfine is an innovative AI-powered healthcare platform that connects you to hundreds of top-notch doctors online. The platform offers instant access to high-quality and reliable healthcare, especially for non-emergency conditions.
The doctors associated with the platform come from various fields and specializations. The average experience of the doctors listed on Mfine is more than 10 years.
Mfine has also tie-ups with the top hospitals to provide accessible and reliable medical care to its users.
MicroGO is a R&D based manufacturing company that focuses on problems around 'Safe & Save' in water, food & hygiene.
One of the hygiene solutions from MicroGo is GOassure – an IoT-enabled device that assures hand hygiene compliance while saving water. Hand hygiene regime is a Six Steps process for a total of 25 seconds, to thoroughly cleanse and disinfect hands.
Staqu already offers AI-powered solutions to eight states and UT police forces, including Punjab, Haryana, Rajasthan, Uttar Pradesh, Bihar, Uttarakhand and Telangana to usher the state in AI-powered smart policing.
The company has now launched JARVIS, a new Thermal Camera under its video analytics platform. The camera will detect individuals with a body temperature of more than 37 degrees Celsius and alert the system. The inbuilt latest technology of JARVIS can examine the heat signatures directly through the cameras, enabling authorities to identify and further inspect suspected Virus Carriers.
