India has 1022 biotech startups: ABLE study

$2.8 billion in biotech led investments in five years

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The Indian biotech startup ecosystem is booming with 1022 companies and over $2.8 billion (Rs 18,700 crore) investments in five years from 2012 to 2016 according to study, "India's biotech startup ecosystem", by Association of Biotechnology Led enterprises (ABLE).

Bangalore is the biotech start-up capital of India hosting 190 of the 1022 biotech startups formed in the last five years.National Capital region (NCR) is no 2 with 164 startups followed closely by Mumbai with 163 companies and Hyderabad with 160 companies.

Of the 1022 new startups, 104 were formed in 2016; 367 during 2014 and 2015. Another 551 companies were established between the years 2012 and 2014. The ABLE study found that over 3000 new entrepreneurs have joined the ecosystem and atleast a third of them are women entrepreneurs.

According to the study, private equity investments into these companies totaled around $2.6 billion and the balance came from own investments, government grants, and other like HNIs. Year 2015 was the best one attracting $851 million.

The bio-Pharma sector continues to dominate the industry, accounting for 57 percent share of the companies formed followed by Bio-Reasearch 16%, Bio-Agri 10%, and BioIndustrial 9%. Overall nearly 40 percent of the companies were involved in manufacture of products and ingredients. About 16 percent start-ups were each into medical health instruments/appliances and R&D services respectively.

Speaking on the occassion, Dr. Kiran Mazumdar-Shaw, honorary chairman, ABLE and CMD Biocon, said,"ABLE takes pride in initaiting a 'mentoring' cell of senior industry leaders to guide the next generation of biotech entrepremeurs and create the world's most vibrant biotech ecosystem in India. Many senior ABLE members are already mentoring start-ups in their individual capacities so far and these efforts will be further strengthened."

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