Bio-incubation allows harnessing of the entrepreneurial potential of startups by providing access to infrastructure, mentoring as well as networking platforms that the startups could use during their fledgling days. It helps the young entitites to survive by providing them specialised support services during the critical period of a business venture i.e. the start-up phase.
While the Bioincubators are able to support the "Space, Services and Knowledge" requirements of startups, wide gap exists in financial support required by a technology driven start up in the initial phase. BIRACs initiative -Sustainable Entrepreneurship and Enterprise Development Fund ("SEED Fund") primarily aims to address this need through the Incubators.
The basic idea of SEED Fund is providing Capital assistance to startups with new and meritorious ideas, innovations and technologies. This would enable some of these start-ups to graduate to a level where they will be able to raise investments from angel/Venture capitalist or they will reach a position to seek loans from commercial banks /financial institutions. Thus the proposed seed support is positioned to act as a bridge between promoters investment and Venture/Angel investment. This is not an investment scheme, but, rather a support scheme to enable start-ups and incubator to attain sustainability.
Under Incubator SEED Fund, BIRAC will provide Grant-in-aid Assistance to selected BIRAC funded incubators based on certain establishment and operational criteria. Initially BIRAC shall identify up to five incubators and expand further in due course. Each such selected incubator will be granted up to 200.00 Lakhs for implementation of SEED Fund. Each incubator can design a selection process to screen & select startups for equity and operational funding through SEED Fund (e.g Accelerator program or Direct investment). The provisions stated herein below deal with the essential guiding principles of the initiative.
Incubator should have been supported through BIRAC's Bio-NEST Scheme
Incubator should be operational since last three years, with at least 5 resident start-ups in Biotech/Life Science start upIncubator should have established IP&TT facilitation services for startups
Incubator must have prior experience in management of early stage funding schemes or ohter grants
Impact |
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16 – SEED Fund Partner BioNEST Incubator |
87 – Start-ups supported will upto Rs. 30 Lakhs /Start-up |
176 Cr - Follow on funding raised by 55 start-ups |
1671 Cr - Combined valuation of 57 start-ups |
55 –Number of products commercialised by Start-ups |
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S.No | SEED Fund Partner BioNEST Incubator | Number of Startups supported | Follow on Funding Raised by Startups from External sources (Cr) |
---|---|---|---|
1 | Association for Innovation Development of Entrepreneurship in Agriculture (a-IDEA) | 4 | 5.15 |
2 | Bangalore Bioinnovation Centre | 3 | 0.74 |
3 | Centre for Cellular and Molecular Platforms, Bangalore | 13 | 17.34 |
4 | Entrepreneurship Development Center (EDC), Pune | 8 | 17.98 |
5 | Research Innovation Incubation Design Laboratory Foundation (RIIDL) (Somaiya Vidyavihar) | 9 | 2.54 |
6 | IITM Incubation Cell, Madras | 4 | 1.63 |
7 | IKP EDEN, Bangalore | 2 | 0.00 |
8 | Kalinga Institute of Industrial Technology -Technology Business Incubator (KIIT-TBI) | 8 | 6.06 |
9 | M/s Vellore Institute of Technology -Technology Business Incubator (VIIT -TBI), Vellore | 6 | 4.99 |
10 | M/s Savli Technology & Business Incubator Platform, Vadodara (STBI) | 1 | 2.05 |
11 | Foundation for Innovation and Research Science & Technology (FIRST) , Kanpur | 6 | 5.60 |
12 | Society for Innovation and Entrepreneurship (SINE -IIT Bombay) | 9 | 20.98 |
13 | Punjab University, Chandigarh | 1 | 0.00 |
14 | Foundation for Innovation and Technology Transfer (FIIT), IIT Delhi | 5 | 15.40 |
15 | IKP Knowledge Park, Hyderabad | 7 | 75.55 |
16 | Golden Jubilee Biotechnology Park for women, Chennai | 1 | 0.00 |
Total | 87 | 176 Cr |
S.No | Name of Startup |
---|---|
1 | Agverse Technologies |
2 | Fishy Farmers |
3 | Fermentech Labs Pvt. Ltd |
4 | GreenPod Labs |
5 | Airshed Planning Professionals Private Limited |
6 | Incredible Device Private limited |
7 | Kanpur Flowercycling Private Limited (PHOOL.CO) |
8 | Tattva Hical and Compounds Private Limited |
9 | Surobhi Agro Industries Private Limited |
10 | Pacify Medical Technologies Pvt Ltd |
11 | Cisgen Biotech Discoveries Private Limited |
12 | Troph Bio Private Limited |
13 | Medha Innovation and Development Pvt Ltd |
14 | JSP Enviro Pvt Ltd |
15 | Acuradyne Medical Systems Pvt. Ltd |
16 | Epocare Pvt. Ltd. |
17 | Ayu Devices Pvt. Ltd. |
18 | Haystack Analytics Pvt. Ltd. |
19 | Piscium Health Sciences Pvt. Ltd. |
20 | Ameliorate Biotech Pvt. Ltd. |
21 | Endimension Technology Pvt. Ltd |
22 | Immunoadoptive Cell Therapy Pvt. Ltd |
23 | Chainworks Digital Pvt. Ltd |
24 | Shilps Sciences Pvt. Ltd |
25 | Eyestem Pvt. Ltd |
26 | OCT Therapies Pvt. Ltd |
27 | Rcupe Lifesciences Pvt. Ltd |
28 | FIB-SOL Life Technologies Pvt. Ltd |
29 | Spot Healthcare Pvt. Ltd |
30 | Sensivision Health Technologies Pvt |
31 | Hanugen Therapeutics Pvt. Ltd |
32 | Cartosense Pvt. Ltd |
33 | Nesa Medtech Pvt. Ltd |
34 | AIDIA Health |
35 | Lifespark technologies |
36 | Ubiqare Health |
37 | BioPrime Agrisolutions Pvt Ltd |
38 | Synthera Biomedicals Pvt Ltd |
39 | Kozhnosys Pvt Ltd |
40 | Vidcare Technologies Pvt Ltd |
41 | Blackfrog Technologies Pvt Ltd |
42 | Ouija Biosolutions Pvt Ltd |
43 | Pragmatech Healthcare Solutions Pvt |
44 | FastSense Diagnostics Pvt. Ltd. |
45 | Ashva Wearable Technologies Pvt.Ltd |
46 | Punar Rehab Solutions Pvt.Ltd. |
47 | Symbionic Tech Pvt.Ltd |
48 | Lamark Biotech Pvt.Ltd |
49 | Tishyas Medical Devices and Development Solutions |
50 | Bariflo Labs Pvt.Ltd |
51 | Samplytics Technologies Pvt. Ltd |
52 | Predible Health Pvt. Ltd. |
53 | BRUN Health Pvt. Ltd |
54 | Turtle Shell Technologies Pvt. Ltd. |
55 | Mestastop Solutions Pvt Ltd |
56 | Brainsight Technology Pvt Ltd |
57 | Startoon Labs Pvt Ltd |
58 | Krea foods and beverages |
59 | InDNA Life Sciences |
60 | Pro-Biokem India Pvt Ltd |
61 | Miraqules Medisolution Pvt Ltd |
62 | Primary Healthtech Pvt Ltd |
63 | NEUKELP INNOVATION TECHNOLOGY PRIVATE LIMITED |
64 | FEETWINGS PRIVATE LIMITED |
65 | AI-GENIX INTERNATIONAL PRIVATE LIMITED |
66 | Redroom Technologies Pvt. Ltd. |
67 | Kriya Labs Pvt. Ltd |
68 | Agsmartic Technologies Pvt |
69 | Aerogram Pvt. Ltd |
70 | M/s MicroFoods Pvt. Ltd. |
71 | Joyponic Farms Private Limited |
72 | Inphlox Water Systems Private Limited |
73 | Beaniesnak Foods Private Limited |
74 | Savemom Private Limited |
75 | Bio-Nano-Hub Private Limited |
76 | Radiate Healthcare Innovations Pvt Ltd |
77 | Rymo Technologies Pvt Ltd |
78 | STEMTECH Medical Devices |
79 | Anatomech Pvt Ltd |
80 | INNULE BIOSCIENCES PVT LTD |
81 | SIAMAF HEALTHCARE PRIVATE LIMITED |
82 | Neuome Technologies Private Limited |
83 | REVY Environment Solutions Pvt. Ltd. |
84 | Bioneem Tec India Private Limited |
85 | Fermedicius Labs Pvt Ltd |
86 | Anscer Robotics Private Limited |
87 | MicroRadical 360 Pvt. Ltd |