New Delhi, May 15 (KNN)  In an effort to foster innovation and techno-entrepreneurship, the government is promoting innovative research in start-ups, small and medium enterprises (SMEs) and other ‘for-profit’ private biotech companies.

The project is a part of Small Business Innovation Research Initiative (SBIRI) a flagship public-private partnership programme of Biotechnology Industry Research Assistance Council (BIRAC), a non-profit public sector company undertaking by the Ministry of Science and Technology.

The programme focuses on funding for early stage and proof-of-concept for innovations based on valid hypothesis, R&D aimed at affordable product development, lab-scale technology refinement, validation of a technology at pilot scale and platform technologies development.

Toward this, BIRAC is seeking proposals from companies which are recognised by the Department of Scientific and Industrial Research (DSIR) in-house R&D unit, acquired or granted a patent.

The council has a vision to stimulate, foster and enhance the strategic research and innovation capabilities of the biotech industry in the country, particularly start-ups and SME’s, for creation of affordable products addressing the needs of the largest section of society. (KNN/ST)