Retaining talent and managing R&D a challenge for Indian biotech start-ups: Experts
Retaining talent and simultaneously managing R&D are becoming a major challenge for biotech start-ups companies in India. At the Bangalore Bio 2009 panel discussion on 'Entrepreneurship Clinic' experts outlined the challenges they faced in the formation days of companies and the perseverance needed to overcome the challenges of human resource talent retention and development of novel research efforts.
Initiating the panel discussion, Dr Chandrasekharan Siddamadappa, managing director, Enzene Biosciences Pvt Ltd, said that issues of spending time and resources to train manpower was the most difficult as candidates sought-newer options frequently. For fresh candidates, start-ups were only a platform to take-off to larger companies.
Dr Sanjay Bettadapura, founder of Polyclone Bioservices Pvt Ltd, said, "Crossing proof-of-concept stage before investment is a biggest challenge to the start ups. Polyclone crossed this hurdle by offering services under 'fee for service' model."
Kavita Iyer Rodrigues, co-founder of In Bio Pro, said, "It is difficult to get Government funding in India for research for start ups. Here, accessibility and transparency are the biggest issues. Though there is no dearth for talent in India, changing mindsets is a bigger problem than changing business plans."
Dr Vinay Babu, managing director, Bioneeds Preclinical Services, said, "Getting highly skilled persons for clinical trials work is a challenge in India. The reason is big companies pay heavily and people will not leave them to work in a start up. Only solution to attract such talent is to offer stake in the company and making them a part of the day-to-day management."
Dr Basavaraj Girennavar, managing director, Criyagen Agri & Biotech Pvt Ltd, said, "Infrastructure creation and maintaining is another challenge in addition to the above mentioned ones. Our company is focusing on energy farming and liquid bio-fertilizers for sustainable agriculture. Through there is a huge demand in this segment, start-ups always facing infrastructure creation problems."