BIRAC partners with TiE-Delhi NCR to accelerate bio-entrepreneurship

The partnership will leverage each other’s strengths to mentor biotech startups as well as provide continuous platform for BIRAC supported startups to interface with funders and investors

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New Delhi: The Biotechnology Industry Research Assistance Council (BIRAC), a not for profit (Section 8) company established by the Department of Biotechnology (DBT) signed a wide ranging MoU with The Indus Entrepreneurs (TiE)-Delhi NCR, at the TiE Global Summit 2016 at New Delhi, to strengthen the biotech entrepreneurial startup ecosystem including healthcare and medical technology. Dr Renu Swarup, Senior Adviser, DBT and MD, BIRAC and Dr Saurabh Srivastava, Chairman Emeritus, TiE-Delhi NCR signed the MoU, in the presence of Prof K VijayRaghavan, Secretary, DBT, and Chairman, BIRAC. BIRAC and TiE will leverage each other’s strengths to mentor biotech startups as well as provide continuous platform for BIRAC supported startups to interface with funders and investors.

Commenting on the partnership Dr Renu Swarup said, “We are very pleased to partner with TiE-Delhi NCR. BIRAC’s vision is to foster and nurture the Indian biotech ecosystem and in this regard we look forward to our partnership with TiE and its global network of mentors. We hope that the network of 300 cutting edge biotech startups and entrepreneurial individuals that we have supported and which is growing rapidly will be able to leverage this partnership for bringing innovative products to the market and scale their impact.”

The partnership aims to establish a collaborative framework under which the organizations will carry out activities related to the exchange of best practices and setting up of coordinated support measures to foster technology and knowledge transfer and innovation cooperation between bio and health tech companies, organizations and institutions. BIRAC and TiE-Delhi NCR plans to leverage their already existing platforms (such as BIRAC’s Innovators Meet and other platforms and TiE-Delhi NCR’s conferences and awards) or create new platforms to showcase startups and connect them with other companies and relevant organisations, and opportunities to explore markets and facilitate a focused interaction with venture funds. Moreover, new modalities may be explored where the biotech entrepreneurship and industry can be fostered, supported, and encouraged for growth.

Integrated into the TiE Global Summit, on the inaugural day, BIRAC organized a session on – The Next Leap for Indian Biotechnology: focus Medtech. Prof K VijayRaghavan gave his opening remarks by highlighting the importance of the new collaboration. The session was chaired by Dr Renu Swarup and included panelists – Dr Sarvajna Dwivedi, Co-Founder, Pearl Therapeutics; Ms Padmaja Ruparel, President, Indian Angel Network; and Ms. Deepanwita Chattopadhyay, Chairman & CEO at IKP Knowledge Park. The Panelists talked about the bio-entrepreneurship and investment aspects involved in the biotechnology sector. Four BIRAC funded Ignition grantees – Dr Ulhas Kharul, NCL, Pune; Dr Pawan Mehrotra, Entrepreneur; Mr Chayan Chatterjee, Lattice Innovations; and Dr. Vivekanandan Perumal, IIT Delhi also presented their innovations at the session.