BIRAC launches 'BIRAC AcE Fund' - biotechnology

The Biotechnology Industry Research Assistance Council (BIRAC) has launched an equity fund “BIRAC AcE Fund” to address to accelerate the growth of entrepreneurs, in the field of biotechnology.

The equity fund is aimed at addressing the pressing needs of accelerating the growth of entrepreneurs, in the field of biotechnology. This fund will be operated by BIRAC, a public sector undertaking under the department of biotechnology, ministry of science & technology, Government of India with incubators and business accelerators, as its partners.

The minister of state for science & technology and earth sciences Y S Chowdary announced the launch of–“BIRAC AcE Fund” on March 19.

Speaking on the occasion of the third foundation day of BIRAC in New Delhi yesterday, the minister expressed hope that this major step taken by the government would dramatically change the landscape of the biotech start-up ecosystem in the country. He said that this is important and a major decision wherein the government will be a partner in equity funding for start-ups. The minster also mentioning several budgetary provisions that are aimed at encouraging self employment and start ups said that a help-desk is proposed to be set up in his ministry for people wanting to know of these schemes.

BIRAC invites fresh proposals from biotech companies

The Biotechnology Industry Research Assistance Council (BIRAC), under its advanced technology scheme, Biotechnology Industry Partnership Programme (BIPP), has invited fresh proposals from biotech companies for support on a cost sharing basis targeted at development of novel and high risk futuristic technologies mainly for viability gap funding and enhancing existing R&D capacities of Start-ups and SMEs in key areas of national importance and public good.

BIRAC, a not-for-profit public sector undertaking set up by Department of Biotechnology (DBT), is running this scheme to promote and nurture innovation research in biotech enterprises specially start-ups and SMEs. Major thrust of the programme is towards funding technologies which address a major national problem and/or involves high level of innovation. The proposals spanning across the spectrum of pre-proof-of-concept to validation of established technologies are considered for support in the form of grant and/or loan.

The scheme supports large, medium, small scale companies as well as start-up on cost sharing basis. It would push for high risk, discovery linked innovation and accelerated technology development. Varying models of grants, loans or grant plus loans will be made available under the scheme.  It will be one of the most enabling mechanisms to promote R&D in biotech industry and public private partnership programmes.

DBT invites fresh proposals from biotech

he Department of Biotechnology (DBT) has invited fresh proposals from biotech companies for providing support on a cost sharing basis targeted at development of novel and high risk futuristic technologies mainly for viability gap funding and enhancing existing R&D capacities of start-ups and SMEs in key areas of national importance and public good.

Under this advanced technology scheme Biotechnology Industry Partnership Programme (BIPP), the DBT supports large, medium, small scale companies as well as start-up on cost sharing basis. It would push for high risk, discovery linked innovation and accelerated technology development. Varying models of grants, loans or grant plus loans will be made available under the scheme.  It will be one of the most enabling mechanisms to promote R&D in biotech industry and public private partnership programmes.

It will also focus on the evaluation and validation of biotech products and indigenous discovery, innovation and technology to products with focus on the products of national relevance or public benefit. BIPP is an advanced technology initiative by the DBT for supporting innovative and challenging R&D in industry.

Biotech - Bengaluru

Biotechnology has proved to be one of the fastest growing sectors in India and is expected to play a key role in shaping the country’s  rapidly developing economy. The sector has been looking at  combating life threatening diseases, reduce  energy crisis and food scarcity which are among the serious  challenges globally.  These  issues which were  also hindering the growth of the country have led the biotech sector to advance its research and development capabilities and bring to the fore novel solutions like newer drugs and  advanced technologies to handle shortage of  fuel and food.

The sector which offers employment to 100, 000 people , has the potential to increase it to six to seven times in the coming years. It is optimally poised to deliver higher growth and introduce new products in 2013 which is seen as a year of immense possibilities.

Karnataka plays a crucial role in the biotech success story of India. The state accounts for over 50 per cent of the 300 biotech companies in India. It has also chipped in 50 per cent of the Rs.28,500 crore ($5 billion) generated by Indian biotech in 2012-13 contributed by the vaccines, diagnostics, drug delivery devices, biosimilars and bio fuels.

Of the 390 R&D companies in Bengaluru, biotech industry forms an integral part of the innovation. This importance to technology and the rising eminence of Bengaluru through the 13th edition of Bangalore India Bio cannot be ignored, said  principal secretary, department of information technology, biotechnology and science & technology, government of Karnataka.


Karnataka has created safe good biotechnology practices which could be shared with other states and also become a brand ambassador for the country. At this platform, the three -day event will see an  expression of  diverse views which could be converted into proposals to the union and state governments .We need to advocate good research, manufacturing and marketing practices  which is the foundation of economic prosperity and growth, said Kiran Mazumdar-Shaw, chairperson Vision Group on Biotechnology, government of Karnataka, Executive Committee member-Association of Biotechnology Led Entrepreneurs (ABLE) and CMD Biocon Limited.