23 January 2013 | News | By BioSpectrum Bureau
BIRAC launches second phase of BIG scheme
BIRAC lends a helping hand!
The Biotechnology Industry Research Assistance Council (BIRAC), a 'not-for-profit' section 25 company with a vision to stimulate, foster and enhance the strategic research and innovation capabilities of the Indian biotech industry particularly SME's, has launched the second phase of Biotechnology Ignition Grant (BIG) scheme by inviting proposals from the registered biotechnology start-ups incorporated on or after January 01, 2010. The scheme is for high level of innovation in the biotechnology sector and the funding will be in the form of grant-in-aid limited up to â‚¹50 lakh to validate proof-of-concept research.
Aimed at enabling the creation of spin-offs, the BIG scheme would help to support and nurture the high risk early starters and their concepts. The scheme is open for potential entrepreneurs from academia, start-ups or an incubatee (researchers, PhDs, medical degree holders, biomedical engineering graduates) who have exciting concepts which may be in the nascent and planning stage. Incubator with such an idea which may be in the nascent and planning stage are also eligible to apply under this scheme.
The company should have a functional R&D laboratory and if the company does not have one of its own, then it should be incubated in an Incubator which has a functional laboratory. The period for the study should not exceed 18 months and funding may also be used for conducting limited market research, patenting costs, working capital during the period, travel, and salary.
The conditions that come with the submission of proposals include that there will be no hard copy but only online submission. The online proposal for the scheme that has to be submitted on the BIRAC website, started on January 01, 2013, and will be open till February 2013.