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BIRAC invites proposals from SMEs for supporting affordable product development

Updated: Feb 19, 2018 08:12:57am
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BIRAC invites proposals from SMEs for supporting affordable product development

New Delhi, Feb 19 (KNN) The Biotechnology Industry Research Assistance Council (BIRAC) is supporting affordable product development under its Small Business Research Initiative (SBIRI).

It is an Advanced Technology Scheme for high risk, transformational technology/ process development from proof-of-concept to validation leading to high value product commercialization.

Under this, BIRAC would support start-ups, SME’s and other Biotech companies on cost sharing basis and also the new and futuristic technology development with major social bearing but uncertain market driven demand.

The initiative aims to support discovery, proof-of-concept and early stage innovations, R&D aimed at affordable product development.

Under the proposal, financial support is extended as a Grant-in-aid limited to Rs. 50.00 lakhs with a contribution from the Company.

In this regard, BIRAC has invited the companies incorporated under the Companies Act, 2013 or Limited Liability Partnership (LLP) incorporated under the Limited Liability Partnership Act, 2008 or Joint Ventures either in the form of Company/ LLP by any of the above entities jointly with other private or public partner(s) (Universities or Institutes to submit their bids.

The proposal to support affordable product development is an initiative by BIRAC under Promoting Academic Research Conversion to Enterprise (PACE), Small Business Innovation Research (SBIRI) and Biotechnology Industry Partnership Programme (BIPP).

BIRAC is a Public Sector Undertaking, of Department of Biotechnology, Ministry of Science & Technology, Government of India. It has been set up to nurture the Biotech Innovation Ecosystem, support Start-ups and SME’s for innovation research and promote affordable product development through public-private partnership. (KNN Bureau)

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