Karnataka govt disburses Rs 10.7 crore grant money to 26 biotech startups

Karnataka Government picks 26 biotech start-ups to support them in their research, discovery, and developmental efforts. These 26 start-ups receive nearly a total of Rs 10.7 crore in grant funds from the Karnataka Government.

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Bengaluru: The Government of Karnataka has released Rs 10.7 crore in grants to 26 biotech companies. These 26 biotechs were selected for Grant-in-aid through the state government’s Idea2PoC (Idea to Proof of Concept) program. This is a first of its kind program in India and has been initiated by the Karnataka Start-up Cell, Department of IT, BT, and S&T. Mr Priyank Kharge, Minister for IT, BT & Tourism, presented the cheques to the 26 winners at Vikasa Soudha in Bengaluru on May 9, 2017.
The Idea2PoC initiative is part of India’s first multi-sector Start-up Policy launched by Karnataka in November of 2015. The call for applications under Idea2PoC was organized by the Karnataka Start-up Cell under KBITS and was implemented by Bangalore Bio-innovation Center (BBC), a Section 8 company set up by KBITS to nurture and promote start-ups in the field of biotechnology. Mr Priyank Kharge, on the occasion, said, “Keeping with our tradition to promote and nurture innovative ideas that can bring change in the society, the Department of IT and BT will support these start-ups to develop ideas, technologies and products which can have significant impact on the lives of people. Idea2PoC offers entrepreneurs a support system to explore, develop and launch their best ideas. The scheme is designed to identify, mentor and fund enterprising Biotech start-ups in Karnataka who can create a deep social impact on the lives of people of Karnataka”
“The objective of the initiative is to encourage innovators who may need early stage funding to stimulate commercialization of inventions and discoveries and help in validating proof of concept. We use a team-approach to mentoring that gives the entrepreneurs more perspectives from different dimensions,” added Mr Kharge.
Speaking at the function, Mr Gaurav Gupta, Principal Secretary to Government, Department of Information Technology, Biotechnology, and Science & Technology, Government of Karnataka, said, “Our focus is to create a strong start-up ecosystem with bottom-up mindset. These are not relationships based on a single conference meeting, but ones that are forged through meaningful experiences we have gone through together.”
Idea2PoC is an ‘Ignition Fund’ given in the form of Grant-in-aid but limited to a one time grant of up to Rs. 50 lakh. Funding shall be released in tranches based on the life cycle of the business plan.

C CAMP

The 26 start-ups to get the funds under the Idea2PoC Grant Scheme include:
♦ Aindra Systems Private Limited (Rs 50 Lakh): An automated and affordable ‘Point-of-sample collection’ screening tool for Cervical Cancer
♦ Aprus Biomedical Innovations Pvt Ltd (Rs 50 Lakh): Advanced wound care device combining novel thin film hydro-colloidal gel technology with novel macromolecule delivery using detonation nano diamonds for treating recalcitrant diabetic ulcers
♦ Aspartika Biotech Pvt Ltd (Rs 43.1 Lakh): Effective conversion of flower waste in synergy with silkworm pupa waste into high value nutraceutical and cosmetic products
♦ Bendflex Research & Development Pvt Ltd (Rs 50 Lakh): Company is developing mechanical biomarkers using compliant micro grippers for application in in-vitro fertilization)
♦ Bioinovatix Health Care India Pvt Ltd (Rs 35 Lakh): Development of Chikngunya Virus like Particles using yeast expression platform
♦ Biomoneta Research Pvt Ltd (Rs 30 Lakh): Electro-dynamic removal of pathogenic bacteria from healthcare environments
♦ DF3D Creations Pvt Ltd (Rs 50 Lakh): Osteo3D cloud-based pre-surgical planning platform that leverages 3D printing technology for creation of patient-specific models and surgical guides.
♦ E2e Biotech Pvt Ltd (Rs 30 Lakh): Intensive Production and Purification of high value pigments through novel photo-bioreactors and design engineering
♦ Genespy Research Services (Rs 30 Lakh): Development of vaccine strategy against the Leukotoxin of Staphylococcus Aureus and design of farmer friendly device for monitoring mastitis
♦ Hanugen Therapeutics Private Limited (Rs 50 Lakh): Design, synthesis, purification and validation of anti-sense oligonucleotides for therapeutic applications
♦ Janitri Innovations Pvt Ltd (Rs 25 Lakh): Low cost, portable uterine contraction monitoring device
♦ Krimmi Biotech Llp (Rs 25 Lakh): Development of a Meliorated Diet Formulation for Rearing Commercially Important Worms such as Bombyx mori (Silkworm) and Galleria Mellonella (Greater Wax Moth) and Subsequent Utilization of Their Discarded Pupa for Production of Novel Bio-pesticides.
♦ Lumisoft Technologies Pvt Ltd (Rs 49.6 Lakh): Potable digital slit lamp- It helps in diagnosing 70 per cent of conditions causing blindness.
♦ Mallipathra Nutraceuticals Pvt Ltd (Rs 20 Lakh): A Novel and Cost Effective Amino Acid Chelate based Foliar Spray for plants comprising the effluent from silk reeling industry
♦ Nesa Medtech Pvt Ltd (Rs 49.5 Lakh): An affordable and minimally invasive therapeutic procedure to treat symptomatic uterine fibroids in reproductive woman
♦ Next Big Innovation Labs Pvt Ltd (Rs 50 Lakh): Development of India’s first 3D Bio-Printer and its Medical Applications
♦ Omix Research and Diagnostics Laboratories Pvt Ltd (Rs 50 Lakh): Novel tool for detection and surveillance of antimicrobial resistance among urinary tract infections.
♦ Pentavalent Bio Sciences Private Ltd (Rs 50 Lakh): Precise, rapid and ultrasensitive DNA cassette based tool for antibiotic profiling of Mycobacterium tuberculosis and treatment decision for tuberculosis patients.
♦ Qtlomics Technologies Pvt Ltd (Rs 47.094 Lakh): Development of easy to use DNA Barcoding Detection Kit using High Resolution Melting curve analysis (Bar-HRM) to identify adulterants in common spices
♦ Terra Blue Exploration Technologies Pvt Ltd  (Rs 50 Lakh): Solution for the Prediction & Management of Epilepsy
♦ Viravecs Labs (Rs 39.5 Lakh): Development of novel nano particle based formulations for in vivo delivery of genome editing tools for therapeutic interventions of genetic disorders
♦ Yostra Labs Private Limited (Rs 49.84 Lakh): A hand held device that can perform three quantified screening tests-tactile threshold, vibration perception threshold and thermal perception threshold test, which help in early diagnosis of (Diabetic Peripheral Neuropathy) DPN.
♦ GR. Manjunath (Rs 25 Lakh): Micro-Bubble based STP (Sewage Treatment Plant)
♦ Jayachandra S. Yaradoddi (Rs 25 Lakh): Economical production of eco-friendly bioplastic material for packaging segment
♦ Nagashetappa Biradar (Rs 46.5 Lakh): Software for Automatic Assessment of Valvular Regurgitation
♦ Shanthanu Chakravarthy (Rs 50 Lakh): Creation of Virtual Reality based endoscopy simulator

(Source: ABLE India & C-CAMP, Bengaluru) 

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