The Department of Biotechnology (DBT) has initiated the process to extend financial support in the form of soft loans and grants for strengthening the already existing bio-incubators and also for establishing new generation incubators with a view to create knowledge and develop entrepreneurship in the sector.
The new project of financial assistance is being launched under the Biotechnology Industry Research Assistance Programme, (BIRAP), which has been set up to assist and promote emerging biotech entrepreneurs and facilitate innovative research and development in existing small, medium as well as large industries.
The BIRAP has already invited letters of intent from the interested public and private academic institutions, special economic zones and research institutes for the development of biotechnology incubator projects.
Biotech incubator as a catalyst that would stimulate research and development for creation of new biotechnology ventures/start-ups. Biopharma and life sciences are among the priority and high focussed areas to be assisted, sources said. “The bio-incubators for SMEs and start-ups or innovation centre only for start-ups could be as a standalone facility or as a part of an existing University/ Institute or Park. They would cater to the requirements of start-up’s and SMEs,” sources said.
“BIRAP would support by providing the necessary financial help for existing incubators to improve and scale up their operations in the field of biotechnology. It will facilitate the development of new bio - incubators in areas that are not currently served. The support will be given by encouraging innovative uses of ICT and entrepreneurship at the National level and based on national needs, by establishing a network of knowledge sharing among Bio-incubators that supports SME development, and new start-up companies, and providing opportunities for the realization of economies of scale by enabling access to national and international markets,” according to the official announcement in this regard.
BIRAP is a pilot activity launched under the umbrella of Biotechnology Industry Research Assistance Council (BIRAC) to provide an essential platform from where immediate activity has taken off. It was established to promote, nurture and incubate innovation and excellence in the biotechnology industry specially facilitating the start-ups and SME’s. BIRAP manages Public Private Partnership Schemes and participates in activities like capacity building programmes to build human resources, infrastructure, etc.