Bengaluru: Life sciences technology and innovation hub Centre for Cellular and Molecular Platforms (C-CAMP) has launched a new scheme, the Sustainable Entrepreneurship and Enterprise Development (SEED) that will support 8-10 life sciences startups for its first batch with funding upto Rs 30 lakh.
The fund has been launched in partnership with the government’s Biotechnology Industry Research Assistance Council (BIRAC). It is aimed at providing capital assistance to startups with novel, innovative and disruptive technologies in all sectors of life sciences, including healthcare, medtech, agriculture, bio-energy, industrial products and processes, and nutraceuticals.
The equity funding will vary anywhere between Rs 5 lakh and Rs 30 lakh. The C-CAMP will take up equity upto 10 percent in these startups. The fund will enable these startups to graduate to a level where they will be able to raise private investments from angel investors and venture capitalist. The preference will be given to the startups who haven’t received any funding so far. Besides the funds, mentorship too will be provided to startups wherever required.
Bengaluru-based C-CAMP is a department of biotechnology initiative and a member of the Bangalore Life Science Cluster, which includes NCBS and in-Stem. C-CAMP was established with the aim of enabling cutting-edge bioscience research and entrepreneurship.