BIRAC Invites Applications From Indian Biotech Companies For Funding R n D
Mumbai, 7 Nov 2020:
The Biotechnology Industry Research Assistance Council (BIRAC), 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 BIRAC 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 (PPP) programme, BIRAC will provide support to the biotech companies for discovery; proof-of-concept and early stage innovations; and R&D aimed at affordable product development.
BIRAC is a not-for-profit, public sector Company set up by Department of Biotechnology (DBT) to promote and nurture innovative research in biotech enterprises.
The eligible companies can send their proposals till November 30, 2020.
The key feature of the scheme is that it is an advanced technology scheme for high risk, transformational technology/process development from proof-of-concept to validation leading to high value product commercialisation; it supports new and futuristic technology development with major social bearing but uncertain market driven demand; and it also supports start-ups SMEs and other biotech companies on cost sharing basis.
The SBIRI 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; to create opportunities for starting new technology-based or knowledge-based businesses by science entrepreneurs; and stimulate technological innovation.
The objectives of this programme are to provide support for early stage, pre-proof-of-concept research in biotechnology by industry; to support new indigenous technologies particularly those related to societal needs in the healthcare, food and nutrition, agriculture and other sectors; and to nurture and mentor innovative and emerging technologies/entrepreneurs, to assist new enterprises to forge appropriate linkages with academia and government.
A single or consortia of Indian companies, registered under 'The Indian Companies Act 2013' with minimum 51 per cent of Indian ownership, and in-house R&D unit, are eligible apply for this programme, either alone or in collaboration with another company, institute or university. Pharmabiz