Leading startup incubator IKP Knowledge Park, in partnership with BIRAC, has invited applications from tech innovators for its ‘Sustainable Entrepreneurship and Enterprise Development’ Fund (BIRAC Seed Fund).
Applications are now open for the BIRAC Seed Fund at IKP for startups in the domains of Medtech, Cleantech, Agritech, Healthcare, Digital Health, Biotech, Biopharma in India.
This Sustainable Entrepreneurship and Enterprise Development Fund provides funding assistance to startups with new and meritorious ideas and technologies to accelerate their growth. The proposed fund support is positioned to act as a bridge between promoters investment and venture capital/angel investment. It aims to identify and fast-track technology-driven solutions that are ready to deploy and are scalable.
Biotechnology Industry Research Assistance Council (BIRAC) is a non-profit enterprise set up by the Government of India’s Department of Biotechnology (DBT), as an industry-academia Interface Agency to strengthen and empower emerging Biotech enterprises.
The Eligibility Criteria for the BIRAC Seed Fund are as follows:-
- Any registered Indian startup having at least 51% shareholders as Indian Citizens (does not include OCI or PIO] as the mandatory requirement)
- A company shall be considered as a startup up to 5 years from the date of its incorporation/registration and its turnover for any of the financial years has not exceeded INR25 crore
- Should be working towards innovation development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
The following services are offered under the BIRAC Seed Fund:
- Up to INR 30 Lakhs in equity investment
- Go To Market & Funding Strategy
- Regulatory & Compliance Advisory
- Access to Laboratories and Experts
- Business & Technical Mentoring
- Patent filing and IP management
Interested startup innovators can click here to apply