Government's RDI Fund selects C-CAMP as focused research organisation, commits Rs 500 Cr

image credit- freepik

India’s leading biotech research and innovation organisation, Bengaluru-based Centre for Cellular and Molecular Platforms (C-CAMP) has been selected as one of five RDI Fund’s Focus Research Organisations or FROs with a declared funding allocation of RS 500 crore by the Govt. of India towards investment in India’s deeptech innovation sector.

C-CAMP will collaborate with its private partners and investors to build a total consortium funding of Rs 1000 crore+ for supporting India’s most transformative deeptech life sciences startups that can create impact in India and beyond. 

As the only dedicated biotech organisation in the list of 19 Second Level Fund Managers [SLFMs] announced by the Govt. of India, C-CAMP will aim to fund high-risk yet gamechanging biotech innovations that can redefine India’s healthcare, agriculture and environment.

The released SLFM list includes 5 FROs and 14 VC firms and is allocated a total of Rs 7131 crore. The other 4 FROs are IISc, IIT Bombay, IIT Madras and BITS Pilani.

Welcoming the announcement, C-CAMP Director-CEO, Dr. Taslimarif Saiyed said, “With this selection as an RDI fund manager by the Govt of India alongside seasoned Investors and VCs, we will ensure that lack of funding does not remain the bottleneck it currently is, for India's biotech innovators to compete with the world's best. This would be our contribution in nation-building towards a Viksit Bharat by 2047.” 

Beyond utilising the funds to support TRL 4 startups, C-CAMP is also keen on catalysing more private fund infusion into the deeptech ecosystem in keeping with the RDI’s defining objectives. Dr Saiyed adds, “We are targeting both patient capital that nurtures ideas and disciplined commitments that shape commercial trajectories in deep science. That is where C-CAMP’s deep ecosystem network will play a role.”