Under its Small Business Innovation Research Initiative (SBIRI) scheme, the Department of Biotechnology (DBT) has invited proposals from Indian biotech companies for funding of research and development in the field of biotechnology.
Under the scheme, the DBT will support start-up units, small and medium enterprises and other private biotech industries. It also offers phase I funding for establishing proof-of-concept of innovations based on valid hypothesis, R&D aimed at product development, development of lab-scale technology, refinement and validation of a technology at small scale, building of platform technologies/prototypes etc. The support is extended as grants-in-aid (up to 80 per cent of total project cost) and interest free loans.
The scheme also offers phase II funding in the form of soft loan for process/product development, scale-up of technology, validation & field trials etc.
The proposals can be submitted solely by a private entity (a company or proprietorship or partnership firm or SSI etc) or jointly with other private or public partner (Universities or National Institutes). At least 51 per cent of the shares of the company should be held by Indian Citizens. Joint ventures and limited partnerships would be eligible when the entity meets the requirements of 51 per cent shareholding.
Industry should have DSIR recognized in-house R&D unit or have IP ownership, developed or acquired, and that will be used for the proposed project. The companies who are in the process of obtaining DSIR recognition or intend to do so can also apply. However final decisions on their applications will be subject to fulfillment of eligibility criteria.
Companies can send their proposals till June 30, 2013.
SBIRI is a flagship public-private partnership programme of DBT and supports research initiatives of Indian biotech industry. DBT is operating this scheme through BIRAC, a not-for-profit company set up by DBT to promote and nurture innovation research in biotech enterprises.
Earlier, the DBT had launched the SBIRI scheme to boost public-private-partnership effort in the country. The distinctive feature of SBIRI is that it supports the high-risk pre-proof-of-concept research and late stage development in small and medium companies led by innovators with science backgrounds which is unique in nature to support private industries and to get them involved in development of such products and processes which have high societal relevance. SBIRI has unique process for generating ideas by bringing users and producers of technology together, it has the direct focus on producing product and a sense of urgency for producing defined results that only private sector engagement can produce.
The scheme 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; create opportunities for starting new technology-based or knowledge-based businesses by science entrepreneurs; stimulate technological innovation; use private industries as a source of innovation and thereby fulfill government objectives in fostering R&D; and increase private sector commercialisation derived from government funded R&D.