USAID & IPE Global-led SAMRIDH wins prestigious P3 Impact Award

New Delhi: At the 2022 Concordia Summit in New York City during the U.N. General Assembly high level week, the SAMRIDH Healthcare Blended Finance Facility was announced as the winner of 2022 P3 Impact Award, by the U.S. Department of State’s Special Representative for Global Partnerships, Dorothy McAuliffe, recognizing its innovative partnership approach and impact, reaching more than 25 million people in India to date.

The Sustainable Access to Market and Resources for Innovative Delivery of Healthcare (SAMRIDH) Blended Finance Facility combines public and philanthropic funds with commercial capital to fund innovative solutions to improve healthcare services for India’s most vulnerable populations, which can be scaled rapidly to meet health challenges posed by the pandemic and future crises. Since its creation in 2020, SAMRIDH has collaborated to scale more than 35 novel innovations across diverse areas, such as health infrastructure, medical devices, oxygen supply, training and capacity building of health workers, and vaccine distribution and supply chain management.

Supported by the United States Agency for International Development (USAID) and implemented by IPE Global, SAMRIDH isa multi-sectoral collaboration, with a strong network of partners, including Atal Innovation Mission and Women Entrepreneurship Platform, NITI Aayog, the Principal Scientific Advisor to the Government of India, the National Health Authority, the Indian Institute of Technology Delhi, the Rockefeller Foundation, the Ford Foundation, Axis Bank, IndusInd Bank, HDFC Bank, Caspian Debt, the Centre for Cellular and Molecular Platforms (C-CAMP), NATHEALTH.

Highlighting the strength of the initiative, USAID/India’s Mission Director, Veena Reddy, said, “The U.S. Government, through USAID, is proud to support the SAMRIDH Blended Finance Facility, which harnesses the incredible ingenuity of India’s public and private sectors to rapidly support and scale innovative solutions to meet the challenges posed by the pandemic, while also contributing to overall health system strengthening.”

Further, alluding to SAMRIDH’s role in achieving the national health goals, C.K. Mishra, Former Secretary, Government of India, Health and Environment; and advisor, Serum Institute, India said, “SAMRIDH is not just unique but also critical as it works with the government to help cover gaps in healthcare delivery. The critical issue is access, affordability and quality of healthcare. This is what SAMRIDH addresses through technology, innovation and a fresh look at healthcare delivery. Much needed, and the right model.”

Acknowledging the recognition, Ashwajit Singh, Founder and Managing Director, IPE Global added, “SAMRIDH has demonstrated the potential of public private partnerships in solving the complex challenges of the healthcare ecosystem. It not only promises to bridge the investment gaps in the sector but also catalyzes technology and innovations to reform the health systems. We are proud to receive this award. It further strengthens our resolve and commitment towards our mission to ensure everyone, everywhere has access to affordable and quality health services.”

The award was accepted by USAID/India’s Health Office Director, and IPE Global Limited’s Founder and Managing Director, Ashwajit Singh. The P3 Impact Award is chosen by the U.S. State Department’s Office of Global Partnerships, the University of Virginia Darden School of Business Institute for Business in Society, and Concordia, recognizing innovative and impactful public private partnerships (P3) that address societal challenges. SAMRIDH is the eighth P3 to win the award, and the first Indian initiative to receive this global recognition.