The Department of Biotechnology (DBT), under its Small Business Innovation Research Initiative (SBIRI) scheme, has invited proposals from Indian biotech companies for funding of research and development in the field of biotechnology. Under this SBIRI scheme, the DBT will provide support for innovation research in biotech companies including start-ups, small and medium enterprises and other ‘for-profit’ private companies.
Under this flagship public-private partnership programme, the DBT will support early stage and proof-of-concept for innovations based on valid hypothesis, R&D aimed at affordable product development, lab-scale technology refinement, validation of a technology at pilot scale, platform technologies/prototype development, etc.
The support is extended as a mix of grant-in-aid and loan. Collaborating public or private institutions and universities are eligible for grant-in-aid. The companies can send their proposals till February 28, 2014.
The proposals can be submitted solely by a company incorporated under the Companies Act, 1956 or Limited Liability Partnership (LLP) incorporated under the Limited Liability Partnership Act, 2008 or Joint Ventures either in the form of Company/LLP. The proposals can be submitted by any of the above entities jointly with other private or public partners (universities or institutes).
At least 51 per cent of the shares of the company should be held by Indian citizens. Minimum half of the persons who have subscribed their names to the LLP document as its partners should be Indian citizens. The main industry applicant should have DSIR recognized in-house R&D unit or patent granted or acquired, which will be used for the proposed project. The companies who are in the process of obtaining DSIR recognition or intend to do so can also apply.
The DBT launched the SBIRI scheme to boost public-private-partnership effort in the country. The distinctive feature of SBIRI is that it supports the high-risk pre-proof-of-concept research and late stage development in small and medium companies led by innovators with science backgrounds which is unique in nature to support private industries and to get them involved in development of such products and processes which have high societal relevance. SBIRI has unique process for generating ideas by bringing users and producers of technology together, it has the direct focus on producing product and a sense of urgency for producing defined results that only private sector engagement can produce.
The scheme aims to strengthen those existing private industrial units whose product development is based on in-house innovative R&D; encourage other smaller businesses to increase their R&D capabilities and capacity; create opportunities for starting new technology-based or knowledge-based businesses by science entrepreneurs; stimulate technological innovation; use private industries as a source of innovation and thereby fulfill government objectives in fostering R&D; and increase private sector commercialisation derived from government funded R&D.
Source : PharmaBiz