New Delhi: The Biotechnology Industry Research Assistance Council (BIRAC) has signed an agreement with the Indian Angel Network, one of the India’s largest angel network. This partnership is expected to bring the biotechnology startups closer to angel investors, who apart from money will provide invaluable mentoring and global market access.
While commenting on the development, Dr Renu Swarup, Senior Adviser, Department of Biotechnology and MD, BIRAC mentioned, “BIRAC has catalyzed a significant transition in the Indian bio entrepreneurial ecosystem. We are very pleased with our partnership with IAN. We hope that the 500 startups that BIRAC has supported can leverage this partnership especially IAN’s expansive network to move to the next level & bring cutting edge products and solutions for national & global challenges.”
Since its foundation six years ago, the BIRAC has been able to create a pan-India presence supporting over 700 Biotech companies, SMEs, Research Institutes, which include around 500 startups and entrepreneurs. The partnership is expected to bring more funding options to the bioscience startups that are in dire need for scale up but struggle with finances and market access.
As per Padmaja Ruparel, Co-Founder, IAN, “Over the years, IAN has promoted and nurtured ground-breaking technology startups in India bringing in patient money. We are delighted to partner with BIRAC. Indian biotech companies surely have the potential to go global and IAN could well bring a catalytic effect to these ventures.”
Mentioned Dr Ram Sagar Misra, Professor of Chemistry, Shiv Nadar University who claims to have discovered a new non genetically modified process to increase crop yields in wheat by up to 50 percent..........