BIRAC and USISPF Partner for Cooperation Between Biotech and Health Tech Co.s, Organizations, and Institutions Across US & India

The BIRAC (Biotechnology Industry Research Assistance Council), a public sector enterprise established by the Department of Biotechnology (DBT) India and Department of Science & Technology (DST) has announced the signing of a letter of intent to collaborate with USISPF (US-India Strategic Partnership Forum) to foster innovation & partnerships between biotech and health tech companies, organizations, and institutions across the US and India.

This collaboration aims to enhance innovation and development in the biotech and health tech sectors by leveraging the strengths and resources of both countries.

The signing ceremony took place in the august presence of Dr. Rajesh Gokhale, Secretary, DBT, Shri Ajay Sood (IISc), Office of Principal Scientific Advisor, Union Minister Dr Jitendra Singh, and Smt. Kiran Mazumdar-Shaw, Executive Chairperson and Founder of Biocon Limited and Biocon Biologics Ltd.

This partnership will aim to facilitate the exchange of best practices and develop coordinated support measures to enhance the growth of the innovation ecosystem.

The focus will be on fostering knowledge transfer and innovation cooperation between biotech and health tech companies, organizations, and institutions across both

Earlier this month, USISPF announced and hold the 3rd edition of its defence summit — the India-US Defence Acceleration Ecosystem (INDUS-X)— in the US to strengthen advanced technology partnerships in defence innovation between the two countries.

Formed in 2017, the US-India Strategic Partnership Forum (USISPF) is a non-profit organization dedicated to strengthening the strategic and economic partnership between the United States and India. It focuses on promoting bilateral trade and investment, fostering innovation, and enhancing collaboration across various sectors, including technology, healthcare, and energy.

Conversational AI for Hospitals Voiceoc Raises INR 3 Cr Funding from IAN & BIRAC -Powered BioAngels Along with Sucseed Indovation

• BioAngels is a unique partnership between IAN and BIRAC that supports startups in Biotech, Medtech, Healthtech, Pharma, Agritech and Cleantech sectors
• The SaaS platform will utilize the investment for expanding its team and hiring talent across tech, sales and marketing verticals
• VoiceOc will also develop its product, scale its marketing strategies and strengthen its presence in the Middle-Eastern market

Voiceoc, a conversational AI solution for hospitals, has raised INR 3 Cr funding from BioAngels, powered by IAN, bringing DeepTech to India’s hospital ecosystem. The round also saw participation from SucSEED Indovation.

With this investment, the company will expand its team and is keen to onboard talent in tech, sales and marketing divisions. Voiceoc also intends to utilize the capital to boost product development initiatives, scale its marketing strategies, and strengthen global footprints in the Middle-Eastern market.

Voiceoc helps healthcare companies provide quick and personalized patient support by leveraging the power of Artificial Intelligence (AI). Integrating Text AI on communication apps like WhatsApp, Messenger, etc., and Voice AI on the call center, the company automates the entire patient journey, right from discovery, appointment booking and availing support to easy access to medical documents, and much more in real-time.

The platform’s healthcare-focused AI engine helps hospitals, diagnostics labs and clinics address consumers' pain points by enabling increased appointment bookings and providing quick and personalized support to patients. Voiceoc also plays an integral role in reducing calls at customer care departments and increasing the conversion rate on offers and campaigns. Currently, it is handling 1 million+ patient conversations in a month from 10 countries.

Speaking on the same, Dr. Manish Diwan, Head - Strategy Partnership & Entrepreneurship Development, BIRAC, said, “The BioAngels platform has been created by BIRAC in partnership with the Indian Angel Network to support the healthcare delivery businesses like Voiceoc, the new-age knowledge-based startups in the ecosystem, with private funds. The company is attempting to enhance the efficiency of conventional healthcare experiences for patients and healthcare providers by integrating Artificial Intelligence. We extend our best wishes to team Voiceoc.”

The lead investors, Mr. Jaideep Mehta, Mr. Vikas Kuthiala and Mr. Anupam Saronwal, further added, “Voiceoc is enabling efficient access to quality healthcare through front office transformation of healthcare providers leveraging messaging, Machine Learning and AI technologies. With a great team in place, the company is poised to become an important player in the healthtech space in the future. This investment builds on the IAN and Bio-Angels’ legacy of supporting entrepreneurs who are building great companies using cutting-edge technologies.”

Mr. Kush Aggarwal, Co-Founder, Voiceoc, said, “At Voiceoc, our mission is to provide solutions for the major challenges healthcare providers face, ensuring patients have access to high-quality, quick and personalized support. Simultaneously, we wish to end patients’ dependency on inconvenient channels for booking appointments, accessing reports and availing consultation services. We are currently in a prime growth phase and are keen to not only onboard new talent but also associate with digital marketing agencies and expand our footprints in the UAE market with the opening of our new office. Partnering with IAN and SucSEED Indovation in the current round is one of the best strategic decisions taken by us that will help us achieve our goal of scaling globally.”

The global conversational AI market was valued at $8.24 billion in 2022 and is projected to touch $32.51 billion by 2028, registering a 21.6% CAGR growth. India, in the APAC region, is one of the fastest-growing markets. Companies, especially in the healthcare sector, are gradually adopting chatbots to cater to the surging demand for AI-enabled customer support services. Voiceoc seeks to explore growth opportunities and envisions becoming the go-to destination for chatbot services in the healthcare domain.

About BioAngels

BioAngels is India’s first sector focused Angel Investor group and perhaps the world’s first angel group in partnership with a government body. It is a unique partnership between BIRAC, an enterprise of the Department of Biotechnology, and IAN, India’s single largest horizontal platform for seed / early-stage investing, focused on Biotech, Medtech, Healthtech, Pharma, Agritech, Cleantech startups. BioAngels brings the first external cheque from Industry leaders and domain experts with cheque sizes of up to INR 10 Cr.

Last December, Padmaja Ruparel, Founder of BioAngels, said in an interaction with an industry magazine, that BioAngels has plan to invest in 100 startups, with ticket sizes ranging from Rs 25 Lakh to Rs 10 Crore. 

BioAngels brings Money, Mentoring, and Global Market Access. It provides Angel Investors, Family Offices, Micro VCs, Corporates and Early-Stage VC Funds, an opportunity to invest in high quality fast growth companies for Alpha returns.

About Voiceoc

Voiceoc is a healthcare focused Conversational AI company that was started with an aim to strengthen engagement between healthcare companies and patients thereby helping healthcare companies, including hospitals, diagnostic labs & clinics, to increase appointment bookings, provide quick & personalized support to patients, increase conversion rate on campaigns and reduce calls in the customer care department.

Today, Voiceoc is handling more than 1 million patient conversations on a monthly basis and have been helping leading healthcare companies of India and Middle East achieve above mentioned objectives.

The above mentioned objectives are achieved by leveraging ‘Voiceoc conversational AI system’ that is deployed over multiple messaging platforms, such as WhatsApp, Instagram, Messenger etc., and call center system.

We are now looking to invest significantly in building our team and are looking to hire talent across multiple domains including Client Success and Inside Sales.

Govt Launches Grand Challenge 'जनCARE' To Identify 75 Startup Innovations in Telemedicine, AI, Digital Health and BIG Data

Photo by Possessed Photography on Unsplash

• Union Minister Dr Jitendra Singh launches the “Amrit Grand Challenge Program” titled “जनCARE” to identify 75 innovations in Telemedicine, AI, Digital Health & BIG Data by Start-ups and Entrepreneurs
• Addresses the BIRAC’s 10th Biotech Innovators Meet-“Vigyan se Vikash” in New Delhi
• Dr Jitendra Singh directed BIRAC to pro-actively reach out to Young Startups, rather than they approaching Council for help and support
• The Minister says, India’s Bio-Economy is on way to achieve 150 billion dollar target to contribute effectively for Prime Minister’s vision of a 5 trillion dollar economy by 2024-25
• 10,000 Biotech Startups to propel the innovation and knowledge translation into products that are Made in India – for India and for the World: Dr Jitendra Singh

Union Minister, Dr Jitendra Singh, today launched the “AmritGrand Challenge Program” titled “जनCARE” to identify 75 Start-Up Innovations in Telemedicine, Digital Health, mHealth with BIG Data, AI, Block Chain and other technologies.

The Minister said, as the launch of Grand Challenge coincides with the Azadi Ka Amrit Mahotsav launched by the Prime Minister, it is all the more imperative for Young Startups and entrepreneurs to come out with Innovative Ideas and Solutions for India’s healthcare challenges. He said, the 75 Best Chosen Startups will be an asset for India to lead the country in the next 25 years, during the celebrations of Centenary of India’s Independence.

Addressing the BIRAC’s 10th Biotech Innovators Meet in New Delhi with a theme-“Vigyan se Vikash”, Dr Jitendra Singh pledged full support to Startups from ideation to deployment stage. He expressed satisfaction that there is a commitment from several industry, hospitals investors, incubators and other stakeholders for this Amrit Challenge, which will end by 31st December, 2021. The Minister also felt happy that this is being launched a day after the Pradhan Mantri’s Digital Health Mission was announced yesterday.

Dr Jitendra Singh directed the Biotechnology Industry Research Assistance Council (BIRAC) to pro-actively reach out to Young Startups, rather than they approaching BIRAC for help and support. He said, an audit in this regard will be done by the end of the year. The Minister also made his stand clear that Young promising Innovations will get priority in terms of help, support and hand-holding than the established industrial hubs.He said, though there is no dearth of talented HR pool in the Country, the main challenge is to channelize it for evolving new paradigms.

Interacting with some of the top Biotech and Agri Startups and Stakeholders, DrJitendra Singh said, he firmly believe that the Startups ecosystem has the potential to tilt the balance from import-centric medical devices sector to Made in India for India and for World alternatives. He said, many of the innovations developed in the last two years in the field of diagnostic kits, healthcare and farming will have a relevance in post-COVID era.

Dr Jitendra Singh said, India’s Bio-Economy is on way to achieve 150 billion dollar target to contribute effectively to Prime Minister’s vision of a 5 trillion dollar economy by 2024-25.Addressing the BIRAC’s 10th Biotech Innovators Meet in New Delhi, he said, the Sunshine Biotech Sector will more than double from 70 billion dollar at present to 150 billion dollar by 2025.

The Minister said that the Innovation and Startups support has resulted in more than 600 Plus Technologies and Products at different stages of Commercialisation. He also informed that the Startups ecosystem is also poised to scale to 10,000 biotech Startups propelling the innovation and knowledge translation into products that are Made in India – for India and for the World.

Dr Jitendra Singh said, BIRAC has established 60 world class Bio-incubators in the country. Moreover, BIRAC today engages with more than 5000 Startups and young entrepreneurs, who have received financial and mentoring support from BIRAC as it has its footprints across India and at all major global biotech destinations, he added. He said, it is also heartening to see that women founders led Startups have about 27% representation and is growing further.

Dr Jitendra Singh that the support from BIRAC in nurturing the talent pool, providing opportunities to Startups to Seed, Succeed and Scale is evident as thousands of them have received not only funding support but access to mentors and expertise for regulatory, go-to-market strategy development, fund raising and commercialization. The Minister said, due to this rich Startup ecosystem, we witnessed several Covid-19 diagnostic kits developed and manufactured by young Startups in a very short time that enabled our country to become Atmanirbhar for testing using indigenized diagnostic kits and related products.

Dr. Renu Swarup, Secretary DBT & DST, and Chairperson BIRAC, Anju Bhalla, Joint Secretary DST and Managing Director BIRAC, eminent scientists, researchers, innovators and entrepreneurs, mentors and enablers of the biotech ecosystem took part in the event.

For AI-based Seed Quality Testing Agritech Startup 'Agdhi' Awarded the BIRAC's 'BIG' Grant of $70K

Agdhi, Agritech Startup awarded the Biotechnology Ignition Grant (BIG), a Flagship Program by BIRAC

Agdhi has received a grant of USD 70,000/- for their flagship product ‘SEEDVISION’

(SEEDVISION is an AI-based seed Phenotyping method)

Bangalore, 17 August 2021: Agdhi, an agritech start-up, announced that the company has been awarded the Biotechnology Ignition Grant (BIG) which is a flagship program by BIRAC. Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Public Sector Enterprise and largest early stage biotech funding programme. Agdhi has received a grant from BIG for USD 70,000/- for their flagship product, “SeedVision- Seed Classifier and Quality Analyser.”

SeedVision is an AI-based seed phenotyping method that classify critical parameters of a seed in a few minutes. This product would help the farmers get good seeds for cultivation and help growers improve the number of cycles because of faster payment realization from seed companies. This automated technique provides an efficient method for seed sorting compared to manual inspection, and the reports are accessible on a real-time basis.

"BIG team at C-CAMP quoted "The entire team at Centre for Cellular and Molecular Platforms (C-CAMP) have been a part of extensive discussions with the team Agdhi all through the 5 months of the Biotechnology Ignition Grant (BIG) application process and are very glad to have them on board as an awardee. The need and gap in the seed assessment market was clearly validated and executed till the idea to proof of principle stage by the technical team at Agdhi. We recognise the proposed solution at Agdhi is tailor-made, traction oriented and look forward to many more discussions through and post the BIG grant."

Speaking on this occasion, Vaibhav Kashikar Co-Founder & Director (Marketing) – Agdhi, said, “We are delighted to announce the grant we have received that will support start-ups like us in bringing technology closer to market and help in the commercialization of the product across India”. He further added that with a vision to disrupt technology in the agriculture sector, we plan to bring new technologies like block chain, edge computing, IoT, and microbiology in agriculture.

Agdhi is an agritech startup based in Bengaluru which aims to create the next revolution in agriculture. The startup is revolutionizing agriculture by introducing digital technology and building alternative solutions to facilitate sustainable methods in agriculture.

Agdhi has won National Bio Entrepreneurship Competition #NBEC2020 for best Agri Tech start up and has recently joined NVIDIA Inception, a program designed to nurture startups revolutionizing industries with advancements in Artificial Intelligence (AI) and data sciences.

Thus, today Agdhi is building new age products & solutions catering to the seed & farmers community.

About Biotechnology Ignition Grant (BIG) Flagship Program by BIRAC

Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Public Sector Enterprise, set up by Department of Biotechnology (DBT), Government of India as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs.

BIG is the largest early stage biotech funding programme in India. It is currently managed through 8 BIG Partners across the country who works with the Ignition grantees (BIG Innovators) to provide mentoring, monitoring, networking and other business development related activities.

Hempstreet Becomes India's 1st Medical Cannabis Company To Receive Govt Biotech Ignition Grant of Rs.50 Lakh

HempStreet, a research to retail company in the ayurvedic cannabis sector, has received a grant of about Rs 50 lakh from the Government of India for research on cannabis. With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines.

It is the first medical cannabis company that has received the Biotechnology Ignition Grant (BIG) from the Biotechnology Industry Research Assistance Council (BIRAC) of the Government of India for research on cannabis.

With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines. With this, the company will do research and development work about the use of cannabis in Ayurvedic medicines.

Prior to this, Bharat Biotech have received grants from BIG, which were engaged in research and development work of Covid vaccine.

Abhishek Mohan, Co-Founder and CEO, HempStreet said, “This award and the grant validates our efforts to build a world-class organization and take the Indian medical cannabis industry to its rightful place. We want to be a Make in India brand for the world."

Hempstreet claims that it is conducting research with leading scientists of the country about the use of cannabis in the treatment of diseases that affect about 300 million Indians. HempStreet claims to have a network of over 220 Ayurvedic clinics serving around 60,000 doctors across the country and have served about 35 million patients.

BIRAC BIG Conclave 6.0 - Most Vibrant Congregation of India’s Largest Community of Biotech Ecosystem Enablers

Day 1 of the annual innovation showcase event organized by BIRAC and SIIC IIT Kanpur was inaugurated virtually on 27th November 2020.

Kanpur, Uttar Pradesh- Biotechnology Industry Research Assistance Council (BIRAC) along with Startup Incubation and Innovation Centre (SIIC), IIT Kanpur has organized the 6th edition of its annual flagship event BIG Conclave. It is the 6th Edition of the event which is themed as ‘Resilience Redefined’ and has brought Technical Experts, Global Business Leaders, Innovators and Entrepreneurs on a common virtual platform to unveil the trailblazing innovations supported by BIRAC through its Biotechnology Ignition Grant (BIG) Program. The event kicked off on Friday, November 27 on a Virtual Platform. This two day event aims to benefit the innovators by garnering the resources and network indispensable for their success. 

The inaugural session of the event was graced by Mr. Jayant Sinha, Member of Parliament and former Union Minister, Government of India as the chief guest of the BIG Conclave 2020. Dr. Renu Swarup, Secretary Department of Biotechnology, Government of India and Chairperson, BIRAC along with Padma Vibhushan Dr RA Mashelkar, Former Director General CSIR (Guest of Honour) also welcomed the startups, investors, panelists and other partners of the BIRAC’s innovation ecosystem.

The chief guest Shri Jayant Sinha expressed words of encouragement to the innovation community and suggested to the entrepreneurs and other ecosystem partners that the development model that India needs to follow has to be very different than what the west, China and Japan have followed. In his words, “We have to solve the problems of Jhanda Chauk, not TimesSquare.” 

In the FireSide Chat session, Padma Bhushan Dr. Ajai Chowdhry, Cofounder, HCL shared a piece of advice with entrepreneurs – “Doing a rigorous sensitivity analysis on your numbers is extremely important as your next tranches are linked to your milestones. That's a key for building a trusted partnership with your investors for the long run.” While sharing a few nuggets of wisdom, Padma Shri Dr. Saurabh Shrivastava also asked entrepreneurs to not run away in the fear of complex regulations or clauses but instead try to see logic and reason behind those conditions with an open mind.

The day 1 ended with a special session ‘Voice that Inspires’ by Padma Bhushan Mr. S. Gopalakrishnan, Chairman, Axilor Ventures and co-founder Infosys. In his conversation with Dr. Manish Diwan, Head, Strategic Partnerships and Entrepreneurship Development, BIRAC, Mr. Gopalakrishnan talked about the accelerated development in the field of healthcare and other domains due the COVID-19 pandemic. He expressed a strong need to have an environment of collaboration between academia, corporates, and startups to make such acceleration sustainable.

The day had some interesting stories of resilience by BIRAC supported startups namely Nanosafe solutions, MicroGo LLP and Ayu Devices. The day also saw some very lively panel discussions shedding light on Covid-19 challenges and strategizing the way ahead.

“We saw the participation of hundreds of innovators, students and startups from every corner of the country in the BIG Conclave today. The enthusiasm and energy of the every member is contagious and I invite every enthusiastic innovator and entrepreneur to join us for the final day” says Dr. Nikhil Agarwal, CEO, SIIC IIT Kanpur.

Registration for the event is entirely free!

Interested participants can submit their details on our website by visiting: https://siicincubator.com/bigconclave2020/

About SIIC IIT Kanpur - www.siicincubator.com

Established in the year 2000, Startup Incubation and Innovation Centre (SIIC), IIT Kanpur is one of the oldest technology business incubators with many successes under its belt such as Nocca Robotics, Curadev Biopharma, Weather-Risk Advisory, PHOOL, GeoKno, E-spin Nanotech, Aarav Unmanned Systems, and HelpUsGreen. With our fair share of successful as well as failed start-ups in our portfolio of more than 120 startups, having raised hundreds of crores and generated more than 3000 jobs, we have developed the experience base and ecosystem that become key ingredients in the development of early-stage, technology-focused startups spanning across the domains of agriculture, healthcare, aerospace, energy, water, education, etc.

These are 7 Winning Startups of Ayushman Bharat PM-JAY Startup Grand Challenge

The National Health Authority in collaboration with BIRAC and Startup India launched Ayushman Bharat PM-JAY Startup Grand Challenge -- an open platform that aimed to bring together the most talented innovators in the country to help solve some of the world’s largest government-funded health assurance scheme—Ayushman Bharat Pradhan Mantri Jan Arogya Yojana’s (AB PM-JAY) key implementation challenges. 

A ‘Grand Jury’ comprising of distinguished industry leaders such as Dr. Sangita Reddy (Joint MD Apollo Hospitals), Mr. Mukesh Bansal (Founder, Myntra and CureFit.) Dr. Ambrish Mithal (Head, Endocrinology at Max hospital (Saket) & Member, Governing Board of NHA), Dr. Nachiket Mor (Health Economist & Former India Country Director, BMGF), Ms. Vani Kola (MD, Kalaari capital) and Mr. Prashant Prakash (Founding Partner, Accel Ventures India) evaluated all participants in 7 different categories and recognised 7 winners for their foresight and innovation.

NHA, along the its jury, has now named winners of the AYUSHMAN BHARAT STARTUP GRAND CHALLENGE and awarded 7 startups for creating innovative solutions to address implementation challenges faced by AB PM-JAY.
The winners of ‘Ayushman Bharat PM-JAY Startup Grand Challenge’ in the 7 categories are:

• Tricog Health won the best startup in the category, “Ensuring Quality of Care”. The company founded by Charit Bhograj, Zainul Chaarbiwala, Udayan Dasgupta and Abhinav Gujjar provides a comprehensive technology-led intervention to help patients gain access to quick, accurate and affordable ECG diagnosis.
• Founded by Ashish Chandra, TrueCover, an AI based real-time fraud, waste, and abuse monitoring platform for health insurance payers won the best startup in the category, “Strengthening Fraud and Abuse control”.
• In the category, “Maximizing pre and post- treatment engagement”, Periwinkle Technologies Pvt. Ltd. won the best startup! Founded by Veena Moktaali & Koustubh Naik, the company has developed a Comprehensive single visit, expert-independent solution for cervical cancer detection.
• The award for – OnionDev Technologies (Gram Vaani), a proven platform to create awareness, drive healthcare demand and monitor services through continuum of care won the best startup in the category for “Increasing Beneficiary Awareness”. Aaditeshwar Seth and Vijay Sai Pratap established OnionDev.
• Founded by Nitesh Shroff and Preeti Bhargava, HealthCloudAILabs, a mobile-health solution to empower non-physician staff won the best startup in the category for “Maximizing capacity of health workforce”.
• The best startup in the category of “Reducing cost of services at the point of care” was awarded to Incredible Devices Pvt. Ltd, an automated catheter reprocessing system to make treatment safe, affordable, and accessible for millions of poor patients. The founders are Vikram Goel and Rajwinder Kaur
• Universal Mednet Pvt. Ltd won the best startup in the category for “Enhancing the quality and security of data”. Founded by Rohit Raheja, Universal Mednet Pvt. Ltd is a secure digital locker for all medical-reports of patients.

The winners will be provided with end-to-end scale-up support through NHA’s newly launched Market Access Program, an initiative focused on accelerating adoption of innovations for Ayushman Bharat PM-JAY through validation pilots, procurement support, business intelligence and mentorship services facilitated through NHA. With MAP, disruptive innovations will now have an opportunity to directly access the Indian healthcare system and transform access, quality and affordability of healthcare.

Bhubaneshwar-based ILS Setting Up Bio-Incubator for Bio-Tech Entrepreneurs and Startups

Institute of Life Sciences (ILS) in Bhubaneshwar, which is operated under Department of Biotechnology (DBT), Government of India, is in the process of establishing a bio-incubator for nurturing, mentoring and promoting entrepreneurs in biotechnology, announced by ILS Director Dr Ajay Parida, in a webinar series on 'Insight into Entrepreneurship in Biotechnology'.

Speaking at the inauguration of the webinar, Union Biotechnology Secretary Dr. Renu Swarup said that she hoped that with the excellent science base, the ILS will play a major role in developing an enabling ecosystem for bio incubation in the region.

Dr Renu Swarup exuded confidence that biotechnology applications would play an important role in mitigating challenges in most of the sectors.

The innovation ecosystem, promoted by the Department of Biotechnology and Biotechnology Industry Research Assistance Council in the recent times has enabled promotion of young entrepreneurs for development of several products and processes in agriculture, healthcare, environment management, devices and many other areas.

The institute, along with DBT, has recently (in August'20) invited application from startups, entrepreneurs as well as researchers and academicians for incubation supprt that incude lab space, mentoring and funding ideas for all stages PoC, Clinical trials and Commercialization.

Established in the year 1989, ILS was an autonomous institute under Department of Biotechnology, Govt. of India. The-then Prime Minister of India Shri Atal Bihari Vajpayee dedicated the institute to the nation in July 2003. Three ILS faculties have been awarded prestigious TATA innovation fellowship of DBT. Over the years ILS has produced 80 Ph.D.s, over 450 publications and 27 patents applied.

To Support Bio-pharma Innovations, Govt Supported National Facility Opens at Venture Center, Pune

The Center for Biopharma Analysis (CBA) supported by the National Biopharma Mission (NBM) of Department of Biotechnology (DBT)- Biotechnology Industry Research Assistance Council (BIRAC) at Pune-based technology business incubator, Venture Center was inaugurated virtually by Secretary, DBT, Dr Renu Swarup.

CBA will provide high-quality analytical services for biopharmaceutical developers and manufacturers. This center is envisioned to become a resource center for structural and functional characterization of biologicals and biopharmaceuticals that will create long lasting value for bioentrepreneurs and industry.

Inaugurating the facility via video conference, Dr Renu Swarup, Secretary, DBT, said that she expects that the CBA will play a pivotal role in supporting biopharma innovations from academic and government research labs, startups and many Indian companies with not only high-quality analytical characterization but also advise on studies needed for regulatory approvals. This can help speed up the development process.

Also speaking on the occasion, Prof AK Nangia, Director, CSIR-NCL highlighted how NCL is keen to contribute to the large molecule therapeutics revolution waiting to happen in India as it did for small molecule therapeutics in 1970-80s. Mr Prasanta Biswal, CEO of International Biotech Park Limited, Pune said that IBPL is happy to have contributed CSR support for the CBA infrastructure development and looks forward to working closely with Venture Center and BIRAC in positioning the Pune Knowledge Cluster for excellence in biopharma and medtech development and manufacturing.

The Department of Biotechnology (DBT), under the Ministry of Science & Technology, promotes and accelerates the development of biotechnology in India, including growth and application of biotechnology in the areas of agriculture, healthcare, animal sciences, environment and industry.

About Biotechnology Industry Research Assistance Council (BIRAC) , it is a not-for-profit Section 8, Schedule B, Public Sector Enterprise, set up by Department of Biotechnology (DBT), Government of India as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs

About National Biopharma Mission:

The Industry-Academia Collaborative Mission of Department of Biotechnology (DBT), Govt of India for accelerating discovery research to early development for Biopharmaceuticals approved by the Cabinet for a total cost US$ 250 million and 50% co-funded by the World Bank is being implemented at Biotechnology Research Assistance Council (BIRAC). This program is dedicated to deliver affordable products to the nation with an aim to improve the health standards of India’s population. Vaccines, medical devices and diagnostics and biotherapeutics are few of its most important domains, besides, strengthening the clinical trial capacity and building technology transfer capabilities in the country.

About Venture Center: Entrepreneurship Development Center (Venture Center) – a CSIR initiative – is a Section 25 company hosted by the National Chemical Laboratory, Pune. Venture Center strives to nucleate and nurture technology and knowledge-based enterprises by leveraging the scientific and engineering competencies of the institutions in the Pune region in India. The Venture Center is a technology business incubator supported by the Department of Science & Technology’s National Science & Technology Entrepreneurship Development Board (DST-NSTEDB). Venture Center focuses on technology enterprises offering products and services exploiting scientific expertise in the areas of materials, chemicals and biological sciences & engineering. For more information, visit: http://www.venturecenter.co.in/

About CBA: Center for BioPharma Analysis (CBA) is an initiative of Venture Center supported by the National BioPharma Mission, BIRAC (Government of India). The Venture Center is a technology business incubator hosted by CSIR-National Chemical Laboratory, Pune. It is a state-of-art GLP compliant facility with high-end instrumentation and industry-linked personals provides globally acceptable analysis of biopharmaceuticals. It provides open access cutting-edge technologies for Biopharmaceutical Analysis and would emerge as resource center for Characterization of Biopharmaceuticals. The facility aims to cater all academics, small to medium size biosimilar developers through-out the India and the world. For more information, visit: https://www.venturecenter.co.in/biopharma/

BIRAC Supported Biotechnology Park and Incubation Centre in Rajasthan Soon

A biotechnology park and incubation centre will be set up in Rajasthan for which a Memorandum of Understanding (MoU) will be signed between the Centre and the state government, Union Secretary, Department of Biotechnology, Renu Swaroop said on Friday.

The park and incubation centre will provide an opportunity to conduct research in the field of biotechnology and employment to the youth, she said.

Swaroop was addressing the State Biotech Cohort Meeting, which was attended by vice chancellors, directors and deans of all universities having biotechnology courses, representatives from institutes conducting research in biotechnology and start-ups associated with it.

Swaroop said the Centre will provide full support and assistance to promote biotechnology in Rajasthan.

The biotechnology park and incubation centre will be set up with the support of Biotechnology Industry Research Assistance Council (BIRAC).

She said utility of biotechnology is increasing in every field, including health, agriculture and agriculture production, industry, edible food, among others. There is a need to promote biotechnology, and encouraging it will give pace to industrial development and research, she added.

Rajasthan Department of Science and Technology Secretary Mugdha Sinha said bio-informatics, biomedical engineering and nano medicine will be encouraged in the state.

The Rajasthan government recently launched Nirogi Rajasthan (Healthy Rajasthan) campaign and all possible assistance through bio-informatics will be provided to strengthen it, she added.

Biotechnology ecosystem and start-ups will be improved in the state with the help from Centre, she said. PTI AG

Soon A Bio-Incubator at BHU by BIRAC at a Set Up Cost of ₹6 Crore

Department of Biotechnology’s Biotechnology Industry Research Assistance Council (BIRAC) has approved the setting up of a bio-incubator at Banaras Hindu University (BHU) under its `Bioincubators Nurturing Entrepreneurship for Scaling Technologies’ (Bio-NEST) programme. The facility will be set up at a cost of Rs. six crore.

BIRAC had initiated the Bio-Nest programme as part of an effort to promote the biotech innovation ecosystem in the country. Enterprising ideas in the biotech sector need incubation support of a different kind from the IT sector. They need a landing space to test their ideas, run their operations, have access to high end instrumentations and locate in a place where they connect with other start ups and mentors.

The incubators set up under Bio-NEST programme meet all these requirements. They provide incubation space to start ups and entrepreneurs and enable interactions between the industry and the academia for efficient exchange of knowledge and facilitate technical and business mentorship. Among other things, they are equipped to help the startups in terms of intellectual property and technology management, and mobilization of resources. They act as a networking platform.

BIRAC had initiated the Bio-Nest programme as part of an effort to promote the biotech innovation ecosystem in the country. Enterprising ideas in the biotech sector need incubation support of a different kind from the IT sector.

On January 16, 2016, Prime Minister, Mr. Narendra Modi had announced a `Startup India Action Plan’. This envisages to have at least 2,000 startups in the country by 2020. To make this happen, there is a need to create bio-incubation spaces that are world class and that can provide cutting edge access to the best environs for propelling innovative ideas towards product commercialization. The Bio-NEST programme is designed to help this process.

The growing biotech startup ecosystem would require either scaling of existing bioincubation space in current biotech hubs or creation of new bio-incubation space at nascent hubs that have the potential to become bigger biotech hubs in the next decade. Further, the creation of new bio- incubation space should be cognizant about the differential needs of varied nature of biotech startups- especially those that are medtech (including medical electronics hardware), biopharma, agri-biotech and biomaterials.

Besides supporting establishment of new incubators under the control of State Government biotechnology councils or science and technology councils and at academic and research institutes, Hospitals and other such organizations, the Bio-NEST programme also offer assistance to strengthening and updating already existing incubators.

Source - Vigyanprasar.gov.in

IAN-BIRAC partnership launches India’s 1st BioTech-focused Angel Funding Network BioAngels; To Support 100+ Startups in 3 Yrs

• BioAngels Network “BioAngels” to combine governmental support and private angel investments in a dynamic synergy


• To facilitate early-stage private capital to accelerate the growth of startups operating in biotech, medtech, agritech, water & sanitation cleantech, etc.

In a bid to unlock the immense potential of Indian biotech, BIRAC , in partnership with Indian Angel Network (IAN), has announced the launch of BioAngels Network “BioAngels” at the Global Bio India 2019. The platform aims to be the single largest national platform for biotech angel investing.

[caption id="attachment_138258" align="aligncenter" width="1024"] IAN BIRAC - BiAN Launch Release[/caption]

The announcement comes at a crucial juncture for the Indian biotechnology industry which is being driven by a level of dynamism that only a few other sectors have been able to achieve globally. Over the last decade, Biotechnology Industry Research Assistance Council (BIRAC), a non- for profit Public Sector Enterprise, has led the industry to cross multiple milestones. Worth USD 50 billion in 2018, the Indian bio-economy currently comprises over 600 + core biotech companies as well as  2700+ startups, accounting for a 3% share in the global biotechnology industry. 

The merging synergies of the country’s largest angel network and the innovation-focused industry-academia interface supported by the government are set to bring about the much-needed transformation by triggering the sector’s next phase of evolution. 

By combining the power of regulatory vision and angel investment, such  initiatives aims to strengthen assist BIRAC in accelerating the growth of the Indian bioeconomy, enabling it to surpass USD 100 billion by 2025. The first-of-its-kind focused funding program will accomplish this by facilitating budding innovators with access to capital, mentorship, and growth opportunities.

“We are extremely delighted to collaborate with BIRAC to set up India’s first BioAngels Network “BioAngels” powered by IAN. Through this institution, our aim is to provide a leg up to innovators who are dedicated to resolving critical pain points in the country’s healthcare ecosystem. BioAngels will also enable us to leverage the domain expertise of leading investors outside of IAN who are supporting biotech ventures across sub-verticals including medtech, agritech/irrigation, water & sanitation cleantech, among others. With their help, we will be able to build a pipeline of well-curated and diligenced deal flow for our members.” said Digvijay Singh, COO, IAN.

Dr. Manish Diwan, Head- Strategic Partnership & Entrepreneurship Development, BIRAC commented, “Biotech start-ups are focused on creating a transformational impact in India before they disrupt global markets. They hold the key to unlocking a healthier, tech-driven future for India along with the unparalleled potential of digital healthcare.  As an ecosystem enabler committed to seeding and breeding Indian innovators in this space, we are pleased to create a unique opportunity to mobilize equity investments for start-ups in this sector. IAN would facilitate greater growth opportunities to biotech startups on the back of early-stage private capital.” 

Such a consortorium of 50 + Angels, HNI’s, Early Stage VCs,  will enable us to bolster our strategies by integrating invaluable insights of industry leaders. The Network’s reach and strong industry connect will also help us to support biotech startups across wider geographies,” he added.

Anchored by IAN, the initiative will be driven by a robust operational focus, frameworks, processes, and governance, and powered by an inclusive group of ecosystem stakeholders. These include HNIs, angel investors, family offices, strategic investors, corporates, and VCs. The platform will facilitate the expansion of BIRAC’s empowering policies, mentoring, and market access to biotech innovators across India and overseas.

Indian Angel Network is India’s first and world’s largest business angel network with close to 500 members across the world, comprising the who’s who of successful entrepreneurs and dynamic CEOs. With investors from 11 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK.  The network is sector agnostic and has funded start-ups across 17 sectors in India and 7 other countries growing global footprint companies. With an excellent track record, IAN has been giving excellent cash exits year-on-year to its investor-members. Some of its marquee investee companies include WebEngage, Druva, Box8, Sapience Analytics, WOW Momos, Consure amongst many others. 

Indian Angel Network has been a pioneer in the seed and early-stage investing. It has now launched a ₹450 Crores VC fund making it now, the single largest platform for seed & early stage, where entrepreneurs can raise from Rs. 25 lakhs to Rs. 50 crores (with co-investors), thus making IAN the platform of choice!

About BIRAC:

Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Section 8, Schedule B, Public Sector Enterprise, set up by Department of Biotechnology (DBT) under Ministry of Science & Technology, Government of India as an interface agency to strengthen and empower the emerging biotech enterprises to undertake strategic research and innovation, addressing high unmet need through development of globally competent  affordable product and technologies.

BIRAC is playing a transformative and catalytic role in nurturing Biotech Innovation Ecosystem in the country towards  building $100 Billion Bio- economy by 2025. 

Govt's BIRAC with Social Alpha and Mphasis are Looking for Startups in Assistive Technology Sector

Biotechnology Industry Research Assistance Council (BIRAC), Government of India, along with Social Alpha and Mphasis, announced the launch of the ‘BIRAC-Social Alpha Quest for Assistive Technologies – supported by Mphasis’ today, a search for startups in the Assistive Technology sector to support innovations focussed on enabling and empowering solutions for persons-with-disabilities.

The Quest will identify and select up to 10 innovations that enhance the learning, working and independent living for persons-with-disabilities. These winning innovations will also be provided up to INR 20 lakhs each to facilitate their market access journey, for implementation of work orders.

Dr. Renu Swarup, Secretary DBT & Chairperson, BIRAC said, “BIRAC is promoting development of innovative biotech solutions to address unmet needs. A number of initiatives rolled out in last few years have positively impacted the Biotech Startup ecosystem which has now grown to 2500+ across the country. This includes products and technologies focused for persons-with-disabilities. BIRAC - Social alpha launch of “Quest for Assistive Technologies” intends to identify, handhold and deploy Assistive Technology solutions for the deserving ones. This partnership could prove instrumental in building a pipeline of innovative and affordable solutions. I hope that this initiative will encourage national & international stakeholders to join hands in delivering assistive technologies at scale.

Addressing the audience at the launch event, Dr. Mohd. Aslam, MD, BIRAC said, “BIRAC promotes entrepreneurs, start-ups and SMEs to undertake strategic translational research to develop innovative products and technologies. Technology driven solutions can steer the change for societal well-being and impact billions of lives. I hope that BIRAC-Social alpha Quest for Assistive Technologies would provide a platform for start-ups to leverage this engagement for creating and deploying innovative assistive technologies across the country.

[caption id="attachment_131539" align="aligncenter" width="1024"] (Left to Right) Manoj Kumar, Meenu Bhambhani and Dr Manish Diwan[/caption]

Speaking at the launch event, Manoj Kumar, CEO and Co-founder, Social Alpha, and Head of Innovation and Entrepreneurship, Tata Trusts said, “There is a huge shortage of quality solutions that cater to and empower persons-with-disabilities at a price point they can afford.  Sometimes we come across innovators who have built the right prototypes, but find them struggling with the end user acceptance, design for manufacturing and market access. Affordability and user experience are the key to large scale adoption of such solutions and our program is designed to validate the product-market fit, help with clinical trials where required and bridge the gaps that exist in the distribution and service channels. We have already incubated four innovative companies in this sector—Bionic Yantra, Blee Technologies, Innaumation, and Tactopus, and through this Quest we are deepening our commitment the sector.”

Meenu Bhambhani, Vice President & Head- Corporate Social Responsibility, Mphasis, addressed the event, and said, “At Mphasis we have a strong focus on improving the lives of persons-with-disability. We have partnered with Social Alpha to support the curation, design and implementation of the Quest. This initiative is aimed at introducing game changing innovations to the market; building this cohesive ecosystem with critical organizations will significantly fast-track the lab-to-market journey for innovators. We believe this can really move the needle for disability inclusion in India and through this partnership we are committed to further the cause” Mphasis, through its CSR initiatives, has been doing pioneering and cutting edge work to promote disability inclusion in the mainstream. This partnership with Social Alpha resonates with our focus on providing solutions that enhance equal participation and dignity for people with disabilities in all spheres of life especially through inclusive solutions.

Upon selection, the winners of the Quest will be enrolled into the Accelerator for Inclusive Solutions — a game-changing 3-month accelerator program where they will be given the chance to work with selected implementation agencies within the Social Alpha, BIRAC and Tata Trusts network, interact directly with potential users of their product, and gain exposure to other funders, buyers and CSR initiatives. As a unique feature, these winning start-ups will also be provided up to 20 lakhs each to kick-start their market access journey, for implementation of work orders, and further support for clinical validation and product engineering. In addition, the start-ups will also have the opportunity to work closely with experts on price discovery, cost optimization, market validation, and marketing and sales.

Multiple estimates suggest that there are anywhere between 4 to 8 crore disabled people in India—i.e. one in twelve households has a family member with a disability. Moreover, due to low literacy levels, social stigma and lack of opportunities, people with disabilities remain the most excluded and unidentified members of Indian society. Large number of children with disabilities stay out of school, disabled adults are likely to be unemployed, and families with a disabled member tend to be economically weaker. While there are several players working to improve the situation, currently, there is no concerted industry effort. To address this gap, Social Alpha also announced that it would be launching a unique Open Innovation Platform which will serve three key purposes: first, identification of key problems and the critical areas where technological interventions are necessary, second, collaboration of innovators and entrepreneurs to develop the technology to serve identified problem, and third, facilitation of  market access for these innovations by aggregating end users and inviting funders, eventually reducing the cost to the end consumer.

“We envisage this platform to include organisations working with persons-with-disabilities, experts and thought leaders, start-ups, channel partners, CSRs arms of companies, family offices and foundations that focus on disabilities, as well as Central and State governments. This platform will bring together the innovation and investment ecosystems; map problems with potential solutions and help capital allocation decision of both philanthropic and commercial capital providers” said Manoj Kumar.

Presently, Social Alpha has partnered with several leading organizations working for inclusivity including Enable India, Artilab, Jaipur Foot, Saksham Trust, Xavier’s Resource Center for the Visually Challenged, National Institute of Speech and Hearing, and AssisTech at IIT-Delhi.

The Quest for Assistive Technologies is open for applicants starting today, June 27, 2019 and will be accepting applications till August 15, 2019. For further information visit - www.socialalpha.org/assisistivetech

Goa gets 'BITS BIRAC BioNEST' Incubator for Startups & Entrepreneurs in Healthcare and Environment Sector

BITS Pilani, K K Birla Goa Campus and Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Enterprise of government of India’s department of biotechnology (DBT) have come together to launch 'BITS BIRAC BioNEST Lab', a state-of-the-art startup incubator facility.

BITS BIRAC BioNEST Lab, which will act as Incubator as well as Innovation Lab, has been set up with funding of Rs 3 crore from DBT and will be will be opened on January 3 by Goa University vice-chancellor Varun Sahni and director of BITS Pilani, K K Birla Goa Campus G Raghurama

The 3,500 sq ft facility will focus on helping startups in the health and environment sectors to find innovative solutions to issues in these areas. The start-ups will be assisted by the lab by providing them with equipment, space and support facilities to test their ideas and prototype in the lab, before taking it to the market.

The lab will focus on health and environment startups that can create products which will not only have great market potential, but also provide a solution to several pressing problems of the modern-day.

Incubation support includes work benches and equipment, office space and common infrastructure, legal & IPR services, mentorship and training, sample testing and analysis, and consultancy.

Notably, this is second new incubator in the state that is being launched within a month, as earlier this month an another incubator called Forum for Innovation Incubation Research and Entrepreneurship (FiiRE) was launched at Don Bosco College of Engineering, a Goa University affiliated institute established in 1970.

BITS Pilani, Goa campus has called entrepreneurs, investors, engineers and scientists to be a part of the network and participate in innovative thinking and help create forward-looking startups.

Any student, individual and budding entrepreneurs who need a nurturing environment to help bring their idea or product to market and for industries that need a platform for trying new processes or technologies.

Source - Times of India

Healthcare Startup SynThera Raises Seed Funding from 1Crowd & Govt.'s BIRAC

Pune-based healthcare startup SynThera Biomedical Private Limited, which focuses on R&D, manufacture and commercialization of affordable biomaterials-based medical devices, has secured an undisclosed amount of seed funding investment from two investors – equity crowd-funding platform 1Crowd and the government’s Biotechnology Industry Research Assistance Council (BIRAC) SEED scheme via Venture Center, an inventive enterprises incubator hosted by CSIR-National Chemical Laboratory, Pune.

Founded in 2015 by Dr.Nilay Lakhkar, SynThera Biomedical aims to become India’s first and foremost company to indigenously research, develop, manufacture and commercialize bioactive and other specialty glass and ceramic products for healthcare and other sectors.

The funding will help startup to achieve expansion, approvals and launch of our first line of bone graft substitute products in the market, together with further development and testing on our patented bone graft product line, according to Nilay Lakhkar, founder and chief executive of SynThera Biomedical, said.

SunThera has two flagship products - SynOst and PoroSyn, that are synthetic bone graft substitute products made from bio-active glass materials. Both products can be used in dental and orthopaedic surgeries as implantable materials for repair and regeneration of bone that is lost or damaged due to disease, injuries or congenital deformities.

[caption id="attachment_125034" align="alignleft" width="700"] SynOst & PoroSyn by SynThera [/caption]

SynOst will be launched by December 2018 and PoroSyn by May 2019.

“SynThera is an innovative biomaterial sciences company, with patented technology, which we believe can address a global opportunity through an array of technology lead products. 1Crowd seeks to invest in ventures that are at the cusp of knowledge and technology, and SynThera is a fine example of that. With investments in over 17 startups, 1Crowd has built an ecosystem, that startups such as SynThera can leverage, which includes an investor community, a mentorship panel and industry connects.” Said Anil Gudibande, co-founder of 1Crowd.

“BIRAC’s SEED – Sustainable Entrepreneurship and Enterprise Development – scheme was set up to support life sciences start-ups, with a funding of up to Rs. 30 lakh. The investments raised by Venture Center's incubatee company SynThera will enable it to move faster towards regulatory approvals, production and sales. SynThera has unique technology capabilities and intellectual property, and will be the first bioactive glass company from India. It will be uniquely positioned to provide valuable biomaterial solutions to dental and orthopaedic surgeons.", said Dr. Premnath, Director, Venture Center, the incubator that supports SynThera Biomedical.

It must also be recalled that Government of India and the World Bank have recently signed a $125 million loan agreement to support India in developing an innovative bio-pharmaceutical and medical devices industry, and in this agreement is supporting Biotechnology Industry Research Assistance Program -- BIRAC -- by providing the ingredients that are currently missing in India’s biopharma innovation ecosystem.

Speaking about 1Crowd, it is an angel investment platform focused on early stage ventures. In March, 1Crowd made investment in Karma Healthcare, a Rajasthan-based health-tech startup.

Launched in 2015, 1Crowd has announced its first close of debut venture capital fund at INR 23 crore (USD 3.5 million), in March this year.

Healthcare Startup SynThera Raises Seed Funding from 1Crowd & Govt.'s BIRAC

Pune-based healthcare startup SynThera Biomedical Private Limited, which focuses on R&D, manufacture and commercialization of affordable biomaterials-based medical devices, has secured an undisclosed amount of seed funding investment from two investors – equity crowd-funding platform 1Crowd and the government’s Biotechnology Industry Research Assistance Council (BIRAC) SEED scheme via Venture Center, an inventive enterprises incubator hosted by CSIR-National Chemical Laboratory, Pune.

Founded in 2015 by Dr.Nilay Lakhkar, SynThera Biomedical aims to become India’s first and foremost company to indigenously research, develop, manufacture and commercialize bioactive and other specialty glass and ceramic products for healthcare and other sectors.

The funding will help startup to achieve expansion, approvals and launch of our first line of bone graft substitute products in the market, together with further development and testing on our patented bone graft product line, according to Nilay Lakhkar, founder and chief executive of SynThera Biomedical, said.

SunThera has two flagship products - SynOst and PoroSyn, that are synthetic bone graft substitute products made from bio-active glass materials. Both products can be used in dental and orthopaedic surgeries as implantable materials for repair and regeneration of bone that is lost or damaged due to disease, injuries or congenital deformities.

[caption id="attachment_125034" align="alignleft" width="700"] SynOst & PoroSyn by SynThera [/caption]

SynOst will be launched by December 2018 and PoroSyn by May 2019.

“SynThera is an innovative biomaterial sciences company, with patented technology, which we believe can address a global opportunity through an array of technology lead products. 1Crowd seeks to invest in ventures that are at the cusp of knowledge and technology, and SynThera is a fine example of that. With investments in over 17 startups, 1Crowd has built an ecosystem, that startups such as SynThera can leverage, which includes an investor community, a mentorship panel and industry connects.” Said Anil Gudibande, co-founder of 1Crowd.

“BIRAC’s SEED – Sustainable Entrepreneurship and Enterprise Development – scheme was set up to support life sciences start-ups, with a funding of up to Rs. 30 lakh. The investments raised by Venture Center's incubatee company SynThera will enable it to move faster towards regulatory approvals, production and sales. SynThera has unique technology capabilities and intellectual property, and will be the first bioactive glass company from India. It will be uniquely positioned to provide valuable biomaterial solutions to dental and orthopaedic surgeons.", said Dr. Premnath, Director, Venture Center, the incubator that supports SynThera Biomedical.

It must also be recalled that Government of India and the World Bank have recently signed a $125 million loan agreement to support India in developing an innovative bio-pharmaceutical and medical devices industry, and in this agreement is supporting Biotechnology Industry Research Assistance Program -- BIRAC -- by providing the ingredients that are currently missing in India’s biopharma innovation ecosystem.

Speaking about 1Crowd, it is an angel investment platform focused on early stage ventures. In March, 1Crowd made investment in Karma Healthcare, a Rajasthan-based health-tech startup.

Launched in 2015, 1Crowd has announced its first close of debut venture capital fund at INR 23 crore (USD 3.5 million), in March this year.

Indian Angel Network Signs MoU With BIRAC; Plans To Invest In Biotechnology Startups

Indian Angel Network (IAN) has announced the signing of a MoU with Biotechnology Industry Research Assistance Council (BIRAC). This partnership brings the biotechnology startups closer to angel investors, who apart from money will provide invaluable mentoring and global market access.

BIRAC a Public Sector Undertaking of Department of Biotechnology (DBT) Government of India, is an Interface Agency to strengthen and empower the emerging Biotech enterprises in India. BIRAC enables enterprises and startups to undertake strategic research and innovation, addressing nationally relevant product development needs.

Commenting on the partnership, Padmaja Ruparel, Co-founder, IAN said, “The Indian Biotechnology industry breeds very innovative technologies with the potential to have a high impact on our citizens. However, these are usually long gestation investments. Over the years, IAN has promoted and nurtured ground-breaking technology startups in India bringing in patient money. We are delighted to partner with BIRAC. Indian biotech companies surely have the potential to go global and IAN could well bring a catalytic effect to these ventures.”

Despite challenges like intense capital and high-end infrastructure requirement for startups, the biotech market has a lot of potentials. According to the latest research data brought out by IBEF, India is among the top 12 biotech destinations in the world and ranks third in the Asia-Pacific region. The Indian biotech industry holds about 2 percent share of the global biotech industry and is expected to be valued at $ 11.6 billion in 2017.

"BIRAC has catalyzed a significant transition in the Indian bio entrepreneurial ecosystem. We are very pleased with our partnership with IAN. We hope that the 500 startups that BIRAC has supported can leverage this partnership especially IAN's expansive network to move to the next level & bring cutting edge products & solutions for national & global challenges”, said Dr Renu Swarup, Sr. Adviser, Department of Biotechnology and MD, BIRAC.

Over the last five years, BIRAC has been at the forefront of a mission to transform the innovative index of the country especially in the area of Biotechnology. Through its efforts and along with its partners BIRAC has been able to create a pan-India presence supporting over 700 Biotech companies, SMEs, Research Institutes, which include around 500 startups and entrepreneurs. To provide launchpads for start-ups BIRAC has supported 24 Bioincubators across India.

Not only this, BIRAC has been playing an important role in the implementation and delivery of the flagship programmes of the Indian Government especially ‘Make in India’ and ‘Start-up India’ and has a crucial role in the transformation of the Indian Bioeconomy to US$ 100 billion by 2025.

Established in 2006 to foster entrepreneurship with a prime focus on nurturing and mentoring new generation entrepreneurs, IAN brought the concept of angel investment to India and has been instrumental in bringing India’s startup ecosystem on the global map. With investors from 10 countries, IAN’s presence spans 7 locations, which includes cities in India and UK. The network is sector agnostic and has funded startups across 17 sectors in India and 6 other countries growing global footprint companies. IAN has already invested in several biotech startups like Vitas Pharma, Transcell which are also BIRAC supported companies.