Article

Funding Sources for Biotech, Pharma & Healthcare Startups in India

1627 views

Here we compiled the list of all the potential funding sources that can help to launch, sustain and grow a bioentrepreneur in India. Please note that this list only include schemes/organizations which offers funding and were made by keeping in mind to assist students and early stage bioentrepreneurs. 

 

Government Funding for Students & Early Stage Researchers

 

#1. BIRAC-SRISTI GYTI Awards

Umbrella organization: BIRAC (Biotechnology Industry Research Assistance Council) and SRISTI (Society for Research and Initiatives for Sustainable Technologies and Institutions)

BIRAC-SRISTI GYTI Awards

Parent organization: Department of Biotechnology, Government of India

Aim: Inculcate the sense of entrepreneurships in students at the university/college level and promote innovations.

Funding: ₹15 Lakhs for 15 entrepreneurial ideas selected at the university level. Additionally, 100 young innovators receive 1 Lakh for the further growth.

Duration: 2 Years in-situ mentorship

Website: //www.birac.nic.in/desc_new.php?id=98

 

#2. University Innovation Cluster (UIC)

Umbrella organization: Biotechnology Industry Research Assistance Council (BIRAC)

Parent organization: Department of Biotechnology, Government of India

Aim: BIRAC Innovation Fellowships aims to propagate high level innovation and application research in biotechnology sector. These fellowships are highly competitive but it is ideal for students to fuel their innovative idea by getting support from Government till Proof-of-Concept stage.

Five university clusters are established:

1.      Anna University, Chennai
2.      Panjab University, Chandigarh
3.      Tamil Nadu Agricultural University, Coimbatore
4.      University of Rajasthan, Jaipur
5.      University of Agricultural Sciences, Dharwad

BIRAC Innovation Fellowships

Eligibility: Must be Master’s or PhD completed for postmasters and postdoctoral fellowships respectively

Areas: Each university have different establishments and collectively these universities covers (almost) all broad area in Biotechnology and Healthcare products. For complete lists, please visit here.

Fundings: For postdoc: 50, 000 per month along with BIRAC Innovation grant of 5 Lakhs per year. For Post Masters: 30, 000 per month along with BIRAC Innovation grant of 2 Lakhs per year.

Duration: Grant period is 2 years with additional one extendable year.

Website: //birac.nic.in/desc_new.php?id=95

 

#3. BIRAC AcE Fund

Umbrella organization: Biotechnology Industry Research Assistance Council (BIRAC)

BIRAC DBT logo

Parent organization: Department of Biotechnology, Government of India

Aim: It is an equity based fund to promote entrepreneurships and specifically support nascent biotech start up.

Eligibility and Fundings: Details can be available through BIRAC.

Website: //www.birac.nic.in/desc_new.php?id=99

 

#4. Early Translational Accelerator (ETA)

Umbrella organization: Biotechnology Industry Research Assistance Council (BIRAC)

BIRAC DBT logoParent organization: Department of Biotechnology, Government of India

Aim: It catapults the valuable discoveries of the lab (publications and the patents) to reach the market and the society. Basically, this scheme supports the period between basic research and product development.

Eligibility and Fundings: Details can be available through BIRAC.

Website: //birac.nic.in/desc_new.php?id=107

 

#5. Technology Business Incubator (TBI)

Umbrella organization: NSTEDB (National Science and Technology Entrepreneurship Development Board) 

DST NSTEDB IndiaParent organization: Department of Science & Technology, Govt. of India

Aim: New venture creation through providing incubation and other necessary facilities, technology commercialisation, networking between academic, R & D institutions, industries and financial institutions.

Currently there are 65 functional TBI setup established in Indian Institutions/Universities.

Eligibility: Ideally students, alumni and faculty members (present or former) of the Institutions/Universities and sponsored R&D partners.

Fundings: Depends on the potential of the projects

Website: //www.nstedb.com/institutional/tbi.htm

Queries you may have: Stay tuned for the detailed coverage on TBI for Biotech, Pharma and Healthcare thrust areas publishing soon.

 

Government Funding for Registered Company

 

#1. Biotechnology Ignition Grant (BIG) Scheme

Umbrella organization: Biotechnology Industry Research Assistance Council (BIRAC)

BIRAC DBT logoParent organization: Department of Biotechnology, Government of India

Aim: Grant funding scheme to scientist entrepreneurs from research institutes, academia and startups to support commercially viable ideas.

Eligibility: Must be either an Incubatee or have a registered company with a functional R&D laboratory.

Funding: Up to 50 Lakhs for up to 18 months.

Track record: 18 Innovators have been awarded the BIG Grant out of which 12 are start-up companies and 6 are individual entrepreneurs. Grant money amounting to 821.96 Lakhs has been approved.

Queries you may have: Please read the FAQ.

Website: //www.birac.nic.in/desc_new.php?id=83

 

#2. Small Business Innovation Research Initiative (SBIRI)

Parent organization: Department of Biotechnology, Government of India

DBT logoAim: It is a Public Private Partnership Scheme launched under DBT.

  • To support high risk, early stage, pre-proof-of concept research in biotechnology by industry
  • To support late-stage development and marketing of new indigenous technologies
  • To mentor innovative technologies or entrepreneurs

Eligibility: Solely by an industry; or jointly by industry and National R&D Organizations and Institutions: or collaborative projects of common interest to the concerned sector/area proposed by a group of industries/users, national research organizations etc.

Funding: Two phase funding structure; 

Phase 1

Actual Project Cost (APC)

Funding Limit

Grant Condition

upto 25 Lakhs

80% of the APC

None

25 lakhs – 100 Lakhs

50%  of the APC

minimum of 20 lakhs and maximum of 50 lakhs.

> 100 Lakhs

50 lakhs + interest free loan upto 50% of APC

50 lakhs as loan limit

Phase 2

Soft loan upto 100 Lakhs

Simple interest of 1%
Soft loan > 100 Lakhs

Simple interest of 2%

Track record: 151 successful SBIRI applicants. List of all the successful companies and collaborator together with the project title can be read here.

Queries you may have: Please read the FAQ.

Website: //sbiri.nic.in/

 

#3. Biotechnology Industry Partnership Programme (BIPP)

Umbrella organization: Biotechnology Industry Research Assistance Council (BIRAC)

Parent organization: Department of Biotechnology, Government of India in partnerships with partnership with ABLE (Association of Biotechnology Led Enterprises) and BCIL (Biotech Consortium India Limited)

BiPP IndiaAim: The fund will be available to the companies to support development of novel and high risk, advanced technologies on a cost sharing basis. To enhance existing R&D capacities and to support research project for novel IP generation.

Eligibility: Solely by an Indian Company (Small, Medium or Large having DSIR recognized in-house R&D unit) or jointly by an Indian Company and National R&D Organizations and Institutions; or by a group of Indian Companies along with National Research Organizations etc.

Funding: Upto 50% of project cost as Grant- In- Aid

Queries you may have: Please read the FAQ.

Website: //www.birac.nic.in/desc_new.php?id=76

 

Government Venture Capital Funds

 

#1. Canbank Venture Capital Fund Ltd. (CVCFL)

Parent organization: Canara Bank

Canbank Venture Capital Fund Ltd.Aim: Venture Capital activities in diverse industrial segments

Track record: Total corpus of 6200 Million into five funds and of which two are closed.

Portfolio: PRATHISTA INDUSTRIES LIMITED, POLYGEL TECHNOLOGIES (I) PVT. LTD.

Website: //www.canbankventure.com/default.htm

 

#2. SBI Capital Markets Ltd. (SBICAP)

Parent organization: State Bank of India

sbicap logoAim: Investment banking and corporate advisory services and includes project advisory and loan syndication, structured debt placement, capital markets, mergers & acquisitions, private equity and stressed assets resolution.

Track record: N/A

Portfolio: N/A

Website: //www.sbicaps.com/

 

#3. IFCI Venture

Parent organization: IFCI Venture Capital Funds Ltd.

IFCI VentureAim:  Financial assistance to entrepreneurs by way of direct equity participation

Track record: 400 ventures received financial grants and support to the commercialization of over 50 new technologies

Portfolio: Surgiwear, Guwahati Neurological Research Centre Ltd., Marck Biosciences Ltd.

Website: //www.ifciventure.com/

 

#4. SIDBI Venture Capital Limited (SVCL)

Parent organization: Small Industries Development Bank of India

SIDBI Venture Capital LimitedAim:  Provide capital and other strategic inputs

Track record:  Diverse funding under different schemes

Portfolio: Anabond Limited, Centaur Pharmaceuticals Private Limited, Naturol Bioenergy Limited, GEO Biotechnologies (India) Private Limited, Glocal Healthcare Systems Private Limited, Hello Health Services Private Limited, Kanungo Institute of Diabetes Specialities Private Limited, Natureland Organic Foods Private Limited

Website: //www.sidbiventure.co.in/svc-01r.htm

 

#5. Gujarat  Biotech  Venture  Fund  (GBVF)

Parent organization: Gujarat Venture Finance Limited

Gujarat Biotech Venture FundAim: The fund specifically identifies startups, early stage and existing companies in areas of Bio-Pharma, Agri-Biotech, Contract Research, Industrial Biotechnology and other potential areas in Biotechnology.

Track record:  So far invested in five ventures and successfully existed from one

Portfolio: Century Pharmaceuticals Limited, Amrita Therapeutics Limited, Aura Herbal Textiles Limited, Axio Biosolutions Pvt Limited, Alfa Corpuscles Pvt. Limited

Website: //www.gvfl.com/startupfunds.html

Other state Government controlled VC organizations is Kerala Venture Capital Fund Private Limited.

In our next post, we will look up to the private venture capitalist for biotech, pharma and healthcare startups in India.


BioRISEThis article is part of our special series ‘BioRISE’. 

Disclaimer: Although efforts were made to compile all the available Government funding sources but if you think that we missed something, feel free to notify us and we will publish the update of this article. You can comment on this post or you can write to pankaj-(at)-medgenera.com.


One comment

  1. Hi Mr. Pankaj,
    Really appreciate your efforts for everything that you are doing to promote bio-entrepreneurship. Thank you very much! I am 4th year biotech student at the IIT-M and would like to start a venture in biotech. I Would require your help and guidance in future.

    Thanks
    Amol Gupta

Leave a reply

Your email address will not be published. Required fields are marked *