BIRAC invites research proposals from start-up biotech cos under BIG scheme

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The Biotechnology Industry Research Assistance Council (BIRAC) has invited research proposals from potential entrepreneurs from academia, start-ups or an incubatee (researchers, PhDs, medical degree holders, biomedical engineering graduates) who have an exciting idea which may be in the nascent and planning stage and there is an unmet need for mentorship and initial funding.

Being implemented under the department of biotechnology (DBT)’s Biotechnology Ignition Grant (BIG) scheme, the main objective of the scheme is to establish and validate proof-of-concept and also to enable creation of spin-offs. The scheme is aimed for high level of innovation in the biotechnology sector and will support only up-to proof-of-concept stage. The scheme would help to support and nurture these high risk early starters and their concepts.

Under this scheme, funding will be in the form of grant-in-aid limited up-to Rs.50 lakh and funding may also be used for conducting limited market research, patenting costs, working capital during the period, travel, salary etc. The period for the study would not exceed 18 months.

Biotechnology start-ups which are registered company incorporated on/after July 1, 2011 with a functional R&D laboratory can apply under this scheme. If the registered company does not have a functional laboratory of its own, then it should be incubated in an Incubator which has a functional laboratory.

This is the fifth call for proposals from BIRAC since the BIG scheme was launched in 2012 for igniting new ideas in biotechnology. Entrepreneurs or potential entrepreneurs from academia, research institute, or researchers, Ph.Ds; and medical degree holders and biomedical engineering graduates can apply under this scheme. The biotechnology start-ups incubated in a technology business, incubator with an exciting idea which may be in the nascent and planning stage can also apply under this scheme. The last date for submission of proposals is August 16, 2014.

Source: PharmaBiz


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