The scheme aims to promote high level of innovation in the biotechnology sector.(Photo Courtesy: www.researchadvisory.in)
The Biotechnology Industry Research Assistance Council (BIRAC) has invited research proposals from entrepreneurs or potential entrepreneurs from academia, research institute, or researchers, PhDs, medical degree holders and biomedical engineering graduates who have an exciting idea, which may be in the nascent planning stage and there is a need for mentorship, and initial funding.
The scheme, which is implemented under the Department of Biotechnology (DBT)'s Biotechnology Ignition Grant (BIG) scheme, aims to promote high level of innovation in the biotechnology sector, and will support and nurture high risk early starters and their concepts.
Funding will be in the form of grant-in-aid limited up to Rs 50 lakh and it may also be used for conducting limited market research, patenting costs, working capital during the period, travel, salary etc. The period for the study would not exceed 18 months.
Biotechnology start-ups which are registered companies, incorporated on or after July 1, 2011 with a functional R&D laboratory can apply under this scheme. If the registered company does not have a functional laboratory of its own, then it should be incubated in an incubator which has a functional laboratory.
This is the fifth call for proposals from BIRAC since the BIG scheme was launched in 2012 for igniting new ideas in biotechnology. The last date for submission of proposals is August 16, 2014.