WASHINGTON, June 8, 2020 /PRNewswire/ -- The Institute for Transformative Technologies (ITT), which recently partnered with Tata Power to launch the world's largest electricity access initiative, is joining forces with the Global Development Incubator (GDI), to merge the best of GDI's incubation model for new ventures and initiatives, and ITT's technology commercialization, to create large scale change.
GDI is the leading organization working to build and scale the next generation of social impact solutions, and ITT is one of the world's most widely recognized organizations in the technology-for-impact space, known for building and scaling solutions critical to sustainable global development.
"We've always believed that technology can be a game changer in global development, but only if it is done with a fundamentally different business model,"says Shashi Buluswar, Chief Executive Officer of ITT. "We have to be smart about which technologies matter, and partner with established emerging markets companies that can handle massive scale. Such companies represent the most under-leveraged resource for achieving the SDGs. The GDI umbrella will help us structure very thoughtful partnerships and exponentially increase our impact."
GDI and ITT are currently curating, designing and promoting effective solutions to the COVID-19 response in low-income countries. The initiative recognizes that while much of the current attention to COVID-19 has been focused on tertiary care hospital systems, the vast majority of patients in low-income countries only have access to primary care clinics where resources and skilled health workers are in short supply.
Andrew Stern, GDI's CEO, said: "Unless such under-resourced health systems are equipped quickly with the right tools and services, it could devastate the lives of billions of people and fundamentally cripple their economies. Our partnership has already begun addressing one of the most glaring gaps: ultra-low-cost devices for delivering oxygen and respiratory support, geared specifically for use in primary care settings."
The joining of ITT and GDI will bring both entities complementary and expanded offerings, an expanded footprint, additional relationships with partners and funders, and most importantly, additional talent to the organizations' collective leadership teams.
