The Department of Biotechnology (DBT) has invited proposals from Indian biotech companies for its 17th batch of Small Business Innovation Research Initiative (SBIRI) scheme to support innovative, early stage, pre-proof of-concept Research and Development (R&D) and commercialisation efforts of available innovative research leads in all areas of biotechnology.
The main objective of this scheme is to assist small and medium business units including new enterprises with not more than 500 employees in R&D and offer them phase I funding for early stage, pre proof-of-concept innovative research. It also provides phase II funding towards commercialisation of research leads.
The last date for submission of proposals is put as November 30, according to a notice by the DBT which said the next batch will be open during January-February, 2012.
It also aims at strengthening the existing private units with in-house innovative R&D and to create opportunities for starting up technology-based or knowledge-based businesses in biotechnology and to stimulate technological innovation and product commercialisation. The department also uses the scheme to support public-private partnership model between industry and public funded institutions.
The proposals can be submitted solely by an Indian company or companies or jointly with public partner (Universities or National Institutes). More than 51 per cent of the shares of the company are to be held by Indian citizens. Industry should have Department of Scientific and Industrial Research (DSIR) recognized in-house R&D unit or have IP related to the proposed activity. Joint ventures and limited partnerships would be eligible for SBIRI support where the entity created meets the above requirements.