Biotech Innovation Ecosystem - Strategizing the Next Leap

NEW DELHI, September 22, 2016 /PRNewswire/ --

The Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Undertaking under the aegis of the Department of Biotechnology (DBT), Ministry of Science & Technology, Govt. of India organized its 5th Innovators Meet at the Mapple Emerald, New Delhi. The two-day event, which is a part of BIRAC's continuous efforts to foster innovation and entrepreneurship, started on September 22, 2016 (Thursday) and continues till September 23, 2016 (Friday). The theme of discussion at the meet is 'Biotech Innovation Ecosystem - Strategizing the Next Leap'. The event was attended by Chief Guest Hon'ble Union Minister for Science & Technology and Earth Sciences, Dr. Harsh Vardhan and Guest of Honour, Hon'ble Minister of State (MoS), Science & Technology and Earth Sciences, Shri YS Chowdary. There were over 350 participants, including Mr. Yigal Erlich, The Yozma Group and Dr. Sarvajna Dwivedi, Global TiE from Silicon Valley and many other senior policy makers, industrialists, startups and entrepreneurs.

Day 1 of the meet started with an open session between high-level investors and innovators. An Innovation Market place featuring 25 innovators was held followed by the inaugural session.

Inaugurating the two-day meet, the Chief Guest - Dr. Harsh Vardhan, Hon'ble Union Minister for Science & Technology and Earth Sciences, said "India is the land of innovations and it gives me great pleasure to see such a large number of entrepreneurs and innovators showcasing their ideas. As per the vision of the Prime Minister, this government is doing everything within its power to give Indian entrepreneurs a platform to take their ideas to the world and vie with the best. The BIRAC Innovators Meet is one such platform which brings entrepreneurs and investors together and catalyzes an open discussion between them." 

The Guest of Honour - Shri YS Chowdary, Hon'ble MoS, Science & Technology and Earth Sciences in his address said, "Over the last 5 years, a foundation has been laid for an innovation-driven biotech enterprise in the country. DBT's National Biotech Development Strategy for 2015-2020 has defined the policy outline to achieve the next transition for the Indian biotechnology. The Government is keen on making India the pioneer of innovation. We have jumped 15 places in the Innovation Index and we are now on the way to continued growth in the innovation sphere. It is important that the excellent work done by BIRAC in creating the Ecosystem is scaled up. It is important to work with all stakeholders especially states. I am confident that we can scale up this model to spread across the country." 

Prof. VijayRaghavan, Secretary, DBT and Chairman, BIRAC during the inauguration said, "The biotech startup landscape has grown in the country over the previous five years. The changing ecosystem has been driven by several elements such as public funding agencies, angel funding and VC funding. We are more focused on research and innovation than ever before and it is yielding results. Our job is to be present at every stage of the innovation ecosystem so that we are in a position to support innovators by helping take their idea and proof-of-concept to the market. Institutions such as BIRAC are committed to promoting affordable innovation in key social sectors in order to achieve the larger goal and mission of an innovation-driven Indian biotech enterprise." 

Tracing the journey of BIRAC over the last 5 years, Dr. Renu Swarup, Senior Advisor, Department of Biotechnology and Managing Director, BIRAC in her welcome address said, "BIRAC has been a major catalyst for the growth of the Biotech Innovation Ecosystem in the country. We are today ready to take the next leap. Today with over 500 startups and SME's, 100 entrepreneurs being a part of this ecosystem, we have nearly 50 products in different stages of development and commercialization. Our target is scaling this 10 times in the next 5 years. We are confident that with the enthusiasm we see in the community we can do this." 

Thy keynote talk was delivered by Mr. Yigal Erlich, Founder, Chairman and Managing Partner, Yozma Group, Israel. Mr. Erlich, who is the founding father of the Israeli venture capital industry and one of the most prominent figures in the Israeli high-tech arena, interacted with the investors and other participants.

"The world changed after India gave it the zero (0). India is known for its contribution to invention and innovation. There is a lot that Israel and India can learn from each other. After overseeing an entrepreneurial and innovation revolution in Israel, I am glad to be able to share our learning and interact with budding entrepreneurs and innovators of India. India is poised to become a major biotechnology hub in the world and sustained support is crucial," said Mr. Yigal Erlich, Founder Yozma Group. 

Later in the evening, a panel comprising, Prof. VijayRaghavan, Secretary, DBT; Prof. Ashutosh Sharma, Secretary, Department of Science and Technology; Mr. Erlich; and others deliberated on the emerging landscape of private venture funding in the country, especially in the life sciences arena.

The Innovators Meet continues on September 23, Friday with a plenary talk by Dr. Sarvajna Dwivedi, Global TiE Silicon Valley and a panel discussion on 'Boosting Technology Development & Translation from Academia' scheduled for the day.

About BIRAC: 

Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Public Sector Enterprise, set up by Department of Biotechnology (DBT), Government of India, to empower the emerging biotech industry to undertake strategic research and innovation. BIRAC is a new industry-academia interface and implements its mandate through a wide range of impact initiatives, be it providing access to risk capital through targeted funding, technology transfer, IP management and handholding schemes that help bring innovation excellence to Indian biotech firms and make them globally competitive. BIRAC has initiated several schemes, networks and platforms that help to bridge the existing gap between industry-academia research and facilitate novel, high-quality and cost-effective affordable technologies. BIRAC has initiated partnerships with several national and global partners to collaborate and deliver the salient features of its mandate.