DBT & BIRAC to participate in Bharat Innovation Fund
Updated: Jan 15, 2016 05:16:49pm
New Delhi Jan 15 (KNN) The Government of India’s Department of Biotechnology (DBT), along with the Biotechnology Industry Research Assistance Council (BIRAC), today announced its participation in the Bharat Innovation Fund. This fund was set up by IIM Ahmedabad’s CIIE to support innovative Start-ups.
The fund launched by PM Narendra Modi last year, aims at supporting innovation and innovative start-ups in areas of healthcare and life-sciences, sustainability, and digital technologies, an official release said.
As per the release, DBT would engage with the Bharat Fund, as part of DBT’s efforts under the Startup India initiative, to help commercialize technologies from its labs and facilities, while also mentoring startups in the healthcare, agri-tech, and other biotech-related areas. The DBT also plans to invest Rs. 50 crore over the next 3 years to support start-ups through this Fund.
Secretary of DBT, K. Vijay Raghavan said that the institution is committed to doing citizen-oriented research and to commercializing its research, especially through new startups that can identify market opportunities to serve the masses.
“We think the IIM A-CIIE’s initiative in setting up Bharat Innovation Fund will provide crucial support for innovative startups that can bring the benefits of innovation to the broader populations,” he said. “We hope this partnership will lead to rapid commercialization of Indian science for Indian citizens, through Indian startups. These efforts will leverage the experience of BIRAC and will foster exciting innovations.”
On the other hand, CEO of CIIE, Kunal Upadhyaya, said, “The Bharat Innovation Fund will use important tools such as labs, mentorship, funding, and networking to support entrepreneurs who take on hard challenges of an ever-broadening Indian market”.
Vice President of CIIE, Mudit Narain referred to the Bharat Fund as an effort to bring together public and private resources, such as experts, finances and labs, to provide the fertile ground for innovation that would seed the Indian multinationals of the next few decades.
The Bharat Fund, which is a public-private-academia partnership set up by Indian Institute of Management (IIM) Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE), was launched during the ‘Startup Konnect’ event in California last year in September. (KNN Bureau)
The fund launched by PM Narendra Modi last year, aims at supporting innovation and innovative start-ups in areas of healthcare and life-sciences, sustainability, and digital technologies, an official release said.
As per the release, DBT would engage with the Bharat Fund, as part of DBT’s efforts under the Startup India initiative, to help commercialize technologies from its labs and facilities, while also mentoring startups in the healthcare, agri-tech, and other biotech-related areas. The DBT also plans to invest Rs. 50 crore over the next 3 years to support start-ups through this Fund.
Secretary of DBT, K. Vijay Raghavan said that the institution is committed to doing citizen-oriented research and to commercializing its research, especially through new startups that can identify market opportunities to serve the masses.
“We think the IIM A-CIIE’s initiative in setting up Bharat Innovation Fund will provide crucial support for innovative startups that can bring the benefits of innovation to the broader populations,” he said. “We hope this partnership will lead to rapid commercialization of Indian science for Indian citizens, through Indian startups. These efforts will leverage the experience of BIRAC and will foster exciting innovations.”
On the other hand, CEO of CIIE, Kunal Upadhyaya, said, “The Bharat Innovation Fund will use important tools such as labs, mentorship, funding, and networking to support entrepreneurs who take on hard challenges of an ever-broadening Indian market”.
Vice President of CIIE, Mudit Narain referred to the Bharat Fund as an effort to bring together public and private resources, such as experts, finances and labs, to provide the fertile ground for innovation that would seed the Indian multinationals of the next few decades.
The Bharat Fund, which is a public-private-academia partnership set up by Indian Institute of Management (IIM) Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE), was launched during the ‘Startup Konnect’ event in California last year in September. (KNN Bureau)
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