Biotech start up journey, especially for first time entrepreneurs, is full of hurdles, both technological as well as business related such as business plan and market entry strategies, navigating regulatory hurdles, connecting and pitching to VCs and networking with future stakeholders. There is a greater realisation within the biotech community regarding the importance of focused mentorship which can help accelerate nascent biotech start up. BIRAC is therefore envisaging designing and implementing an equity based fund for supporting entrepreneurs in the valley of death.
The AcE Fund shall make a maximum capital commitment of up to Rs 30 crores or up to 30% of the total aggregate capital commitment amount(i.e. fund corpus) in each AcE daughter Fund
The assistance to a start-up will be up to INR 7 crores againest equity
The AcE daugher fund shall invest at least twice the amount contribute by BIRAC's AcE Fund into Biotech/Life Sciences sector start-ups