03 October 2018 | News
The meeting saw a participation of around 40 startups.
L-R- Narayanan Suresh, COO, ABLE; Dr Anand Anandkumar, Co-Founder, BugWorks
Recently, the Association of Biotechnology Led Enterprises (ABLE) organized the 6th edition of the Bangalore Biotech Entrepreneurs Meet. Every month such meetings are conducted by the Biotech Startup Group within Bengaluru at different locations to discuss the recent innovations and challenges associated with various biotech startups.
During the 6th Bangalore Biotech Entrepreneurs Meet, ABLE President, Shrikumar Suryanarayan pointed out that, “India figures high in many global rankings of the startup ecosystem with the presence of more than 1000 innovative companies in various technology sectors. A previous study by ABLE team in early 2017 revealed that there were 1022 startups. It is remarkable that the number of startups in life sciences have jumped by 710 within a year. Collectively, these 1723 companies have attracted investments of $ 3 billion. Two- thirds of the life science startups are in the Bio-Pharma segment”.
The meeting saw a participation of around 40 startups who took this opportunity well for establishing contacts and networking. Dr Anand Anandkumar, Co-Founder, BugWorks, highlighted the importance of participation by various startups in such meetings and many more where investors also become a part of. Last year, Bugworks became the first company in Asia to receive investment from CARB-X, the US government’s main funding vehicle for the fight against superbugs.
To provide more information on grant management and fund raising for the startups, Dr Priyankana Mukherjee, Manager, BioNEST, IKP Knowledge Park, Bengaluru spoke on the various facilities available at the incubator. To top it up, Dr Mrutyunjay Suar, Director, KIIT, shared the success stories of a few startups placed at the incubator in Odisha.
Towards the end, Dr Jagadish Mittur, Principal Consultant, Biotech, KBITS, informed the startups about the upcoming opportunity at the Bengaluru Tech Summit 2018 to be held from 29th Nov to 1st Dec, 2018 in Bengaluru.
The session was concluded by Dr Raja M, Founder & CEO, Genotypic Technology. He encouraged the participants on developing a good network in order to take things forward.