26 November 2019 | News
By exchange of agreements between selected startups and Centre for Cellular and Molecular Platforms (C-CAMP)
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The Government of Karnataka’s Department of IT, BT and S&T has announced the second cohort of 14 Bio-startups under the Karnataka Bio-Startup Advancement Program (K-SAP BIO 50) by exchange of agreements between selected startups and Centre for Cellular and Molecular Platforms (C-CAMP).
In the first cohort, last year, 11 Bio-startups were chosen and were individually felicitated at India Bio 2019 held as part of The Bengaluru Tech Summit 2019. Dr E.V. Ramana Reddy, Additional Chief Secretary, Dept. of IT, BT and S&T, Govt. of Karnataka handed over commemorative mementos for considerable traction and accolades gained by them both at national and international levels.
“India Bio at Bengaluru Tech Summit 2019 is all about convergence of smart technologies like AI, Robotics, data sciences, and Biotechnology, where you have the engineering expertise along with the scientific depth achieved in Biotechnology in the areas of Health and Agriculture come together to see that real innovation emerges. One of the highlights of India Bio 2019 was Smartbio Enterprise Connect program which is the first organized Enterprise Connect for Biostartups attempted by any State in the country where biotech enterprises and venture capitalists have participated. This whole initiative is to support startups in reaching out to the people who have decision-making power” said Dr. C N Ashwath Narayan, Hon. Deputy Chief Minister and Minister for IT, BT and S&T.
According to Dr. E V Ramana Reddy, IAS, Additional Chief Secretary, Department of IT, BT and S&T, “Many biotech innovations are being developed that are highly technology driven. But, scalability remains the biggest missing piece and most biotechnology startups are yet to achieve reasonable scale despite raising venture capital. There is a dire need to make start-ups understand their go-to-market strategy so as improve their potential and application are realised fully. To enable this, we curated Karnataka Bio-Startup Advancement Program (K-SAP BIO 50) which aims at creating multi-fold value to the start up venture. K-SAP BIO 50 is a one year programme to mentor and hand-hold select Karnataka Bio-startups and help them move their ideas forward towards commercialization and increased valuations.”
Dr. Taslimarif Sayied, Director & CEO, C-CAMP introducing the KSAP BIO50 said “The program launched last year has brought into its fold an exciting cohort of startups from Karnataka developing cutting-edge technology to solve healthcare, agriculture and environment issues with phenomenal potential for impact. The program provides them with deep dive mentorship, knowledge sharing and networking opportunities as well as investor showcases to address existing gaps at every stage of the commercialization journey. Also, through K-SAP, C-CAMP facilitates global exposure for these state startups and helps them to gain an edge in global markets”.
The 14 Bio-startups selected for the 2nd Cohort of under K-SAP included AgroBlock, Triocula, Autoyos, Aindra Labs, Amvicube, Accreate Additive Labs, Ubiqare Health, Biofi Medical Healthcare, Infodoct Healthcare Solutions, Yuktix Technologies, Sterent Innovative Systems, Aarogya AI Innovations , Atom360 , NoPo Nanotechnologies.
Prashant Kumar Mishra, Director ITBT and Managing Director, KITS said, “Biotechnology sector has become a significant one changing and enhancing the growth of India's global profile with Karnataka as the major leading player in the biotechnology revolution of India. With more than 60% the biotech companies in the country with base in Karnataka, the state is responsible for 50% of the total revenues being generated in the biotech sector in India. Heads of both State and Central departments like Agriculture, Health, Women and Child Welfare, Higher Education, etc. are major stakeholders whose decisions will be key for Biostartups to help scale-up and excel”.
Participating in a panel discussion titled ‘K-SAP BIO 50 Impact on growth of Bio-startups’ Dr Shyam Vasudevarao, Founder and Director, Forus Health, Renalyx and Rx DHP said, “360 degree support system provided to the Bio-startups under KSAP is what sets it apart from other accelerator programs”. Sreekar Kothamachu, Founder & CEO Nesa Medtech, said “Unlike many other accelerator programs, K-SAP is tailor-made to suit each startup’s unique requirements.” Mayur Shetty, Founder and CEO Blackfrog Technologies said “KSAP has put them all in the radar of investors” and Ganesh V Bhat, Co-Founder & CTO, Farm Gulp Pvt. Ltd., said “the program helped them progress from being ‘no one’ to ‘someone’ in the vibrant biotech ecosystem existing in the State”.