To ease the process of setting up a startups in the fields of biotechnology and healthcare, Biotechnology Industry Research and Assistance Council (BIRAC) is planning to enter into an agreement with various departments, including defence and agriculture. The announcement was made by Renu Swarup, managing director of BIRAC, who was in the city to launch the second phase of bio-incubation at Venture Centre, operating under the aegis of CSIR-National Chemical Laboratory(NCL), on Monday. For the last five years, BIRAC has been operating under the aegis of the Department of Biotechnology (DBT), mainly for supporting and incubating new companies through its various incubation centres.
While an agreement on health and medical equipment was recently signed with Indian Council for Medical Research (ICMR), talks are on with Defence Research and Development Organisaton (DRDO) too. “As newer companies are finding it difficult to gain acceptance and enter markets, it was decided that agreements must be signed with key players too, who could help further the base of these startups,” said Swarup. Though startups are flourishing, the biggest challenge in the years to come, would be sustaining them and scaling them up to mega scales.
“Along with providing funds, developing the companies into a sustainable stature will be a challenge,” he added. NCL Venture Centre, with the support of BIRAC, has aided setting up of numerous startups in this field. So far, the centre has incubated over 40 startups in the first phase. On the occasion, two new startups, working towards preventing hospital infections and ill-effects of chemicals in fruits and vegetables, were also launched on the occasion.