BIRAC
Introduction and Scope Of The Fund

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.


Funding Framework

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.


Eligibility criteria for Partner Incubators


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 up

Incubator should have established IP&TT facilitation services for startups

Incubator must have prior experience in management of early stage funding schemes or ohter grants

  
  

SEED Fund is to help cover the first Valley of Death for Startups and help them to become Investible
Impact
16 – SEED Fund Partner BioNEST Incubator
76 – Start-ups supported will upto Rs. 30 Lakhs /Start-up
125.83 Cr - Follow on funding raised by 44 start-ups
900.56 Cr - Combined valuation of 36 start-ups
55 –Number of products commercialised by Start-ups
S.NoSEED Fund Partner BioNEST IncubatorNumber of Startups supportedFollow on Funding Raised by Startups from External sources (Cr)
1Association for Innovation Development of Entrepreneurship in Agriculture (a-IDEA)41.77
2Bangalore Bioinnovation Centre20.25
3Centre for Cellular and Molecular Platforms, Bangalore1213.98
4Entrepreneurship Development Center (EDC), Pune85.23
5Research Innovation Incubation Design Laboratory Foundation (RIIDL) (Somaiya Vidyavihar)91.54
6IITM Incubation Cell, Madras31.63
7IKP EDEN, Bangalore20.00
8Kalinga Institute of Industrial Technology -Technology Business Incubator (KIIT-TBI)45.64
9M/s Vellore Institute of Technology -Technology Business Incubator (VIIT -TBI), Vellore60.87
10M/s Savli Technology & Business Incubator Platform, Vadodara (STBI)10.50
11Foundation for Innovation and Research Science & Technology (FIRST) , Kanpur35.50
12Society for Innovation and Entrepreneurship (SINE -IIT Bombay)99.62
13Punjab University, Chandigarh00.00
14Foundation for Innovation and Technology Transfer (FIIT), IIT Delhi515.30
15IKP Knowledge Park, Hyderabad764.00
16Golden Jubilee Biotechnology Park for women, Chennai10.00
 Total76125.83 Cr

S.NoName of Startup
1Agverse Technologies
2Fishy Farmers
3Fermentech Labs Pvt. Ltd
4GreenPod Labs
5Airshed Planning Professionals Private Limited
6Incredible Device Private limited
7Kanpur Flowercycling Private Limited (PHOOL.CO)
8Cisgen Biotech Discoveries Private Limited
9Troph Bio Private Limited
10Medha Innovation and Development Pvt Ltd
11Acuradyne Medical Systems Pvt. Ltd
12Epocare Pvt. Ltd.
13Ayu Devices Pvt. Ltd.
14Haystack Analytics Pvt. Ltd.
15Piscium Health Sciences Pvt. Ltd.
16Ameliorate Biotech Pvt. Ltd.
17Endimension Technology Pvt. Ltd
18Immunoadoptive Cell Therapy Pvt. Ltd
19Chainworks Digital Pvt. Ltd
20Shilps Sciences Pvt. Ltd
21Eyestem Pvt. Ltd
22OCT Therapies Pvt. Ltd
23Rcupe Lifesciences Pvt. Ltd
24FIB-SOL Life Technologies Pvt. Ltd
25Spot Healthcare Pvt. Ltd
26Sensivision Health Technologies Pvt
27Hanugen Therapeutics Pvt. Ltd
28Cartosense Pvt. Ltd
29Nesa Medtech Pvt. Ltd
30AIDIA Health
31Docturnal
32BioPrime Agrisolutions Pvt Ltd
33Synthera Biomedicals Pvt Ltd
34Kozhnosys Pvt Ltd
35Vidcare Technologies Pvt Ltd
36Blackfrog Technologies Pvt Ltd
37Ouija Biosolutions Pvt Ltd
38Pragmatech Healthcare Solutions Pvt
39FastSense Diagnostics Pvt. Ltd.
40Ashva Wearable Technologies Pvt.Ltd
41Punar Rehab Solutions Pvt.Ltd.
42Symbionic Tech Pvt.Ltd
43Lamark Biotech Pvt.Ltd
44Tishyas Medical Devices and Development Solutions
45Bariflo Labs Pvt.Ltd
46Samplytics Technologies Pvt. Ltd
47Predible Health Pvt. Ltd.
48BRUN Health Pvt. Ltd
49Turtle Shell Technologies Pvt. Ltd.
50Mestastop Solutions Pvt Ltd
51Brainsight Technology Pvt Ltd
52Startoon Labs Pvt Ltd
53Krea foods and beverages
54InDNA Life Sciences
55Pro-Biokem India Pvt Ltd
56Miraqules Medisolution Pvt Ltd
57Redroom Technologies Pvt. Ltd.
58Kriya Labs Pvt. Ltd
59Agsmartic Technologies Pvt
60Aerogram Pvt. Ltd
61M/s MicroFoods Pvt. Ltd.
62Joyponic Farms Private Limited
63Inphlox Water Systems Private Limited
64Beaniesnak Foods Private Limited
65Savemom Private Limited
66INNULE BIOSCIENCES PVT LTD
67SIAMAF HEALTHCARE PRIVATE LIMITED
68REVY Environment Solutions Pvt. Ltd.
69M/S.Teralumen Solutions (P) Ltd
70Trestle Labs Pvt Ltd
71Fermedicius Labs Pvt Ltd
72Bio-Nano-Hub Private Limited
73RAYD8
74Rymo
75S.T.E.M (Smart Temperature Management)
76Anatomech
 

For details guidelines please refer to the Guidelines   Click Here