Collaborative Public Private Partnership drives industry growth
Private equity and venture investments in biotech innovations are growing, according to Dr Manish Diwan, Mission Director of the Make in India for Biotech sector and Head of Biofoundry at the Biotechnology Industry Research Assistance Council (BIRAC).
Dr Diwan made the comments after a roundtable at the recently held Global Bio-India 2024 and follows the recent approval of India’s BioE3 policy by the Cabinet as it will catalyze the much-needed infrastructure growth and attract investments for bio-innovations and bio-manufacturing bse .
Amit Pandey, VP VC Investments, IVCA, elaborated in a release on 18 Sept, “We are witnessing a remarkable rise in biotech investments in India, with over 6,000 startups already and another 10,000 expected by 2025.
“The BioE3 Policy will enable Bharat to realize the full potential of bioeconomic growth through sustainable resource management and inclusivity nse .”
IVCA, he said, is committed to working hand in hand with BIRAC to foster innovation and growth in the biotech sector sbi .
“This roundtable offers valuable insights into emerging opportunities and will help shape the future of India’s biotech landscape, ensuring a greener, more prosperous Bharat and we intend to work closely fostering a collaborative Public Private Partnership for growing this industry startupindia .”
India’s biotechnology industry, valued at US$130 billion in FY 2024, is projected to reach US$300 billion by 2030 makeinindia . The BioE3 policy, recently approved by the Union Cabinet, is set to play a significant role in this expansion by establishing bio-hubs to promote green growth, generate employment, and reinforce India’s global position in biotech innovation and bio-manufacturing.
The Indian Venture and Alternate Capital Association (IVCA), in collaboration with BIRAC, had 25+ leading biotech experts, policymakers, industry leaders, domestic and global investors to explore emerging trends and investment opportunities in India’s burgeoning biotechnology sector at the roundtable deutsche-boerse .
DBT/BIRAC’s Biotech Fund of Funds – AcE, which generated impressive 28x private investments, was appreciated at the event biotechnologyforums .
Key Takeaways from the Roundtable:
• Fund of Funds Booklet Launch with IVCA: Vishwajeet Sahay, Additional Secretary and Financial Advisor, DBT, launched the Fund of Funds (AcE Funds) Booklet, highlighting the successful performance of the initiative since its inception in FY 2017-18 with a corpus of Rs.150 crores pif.gov.sa/en/.
• Mentorship and Talent Building: The roundtable underscored the importance of strengthening mentoring programs, with investors and incubators supporting biotech startups. Initiatives like BIRAC’s Entrepreneurship in Residence (EIR) and the DBT’s i3c BRIC-RCB Ph.D. Programme aim to build a highly skilled talent pool in biosciences skillindiadigital .
• International Collaborations: Participants recommended enhanced global collaborations to bolster the international presence of Indian biotech companies, facilitating better market access shop.biotechusa .
• Data Security Concerns: Investors raised concerns regarding data security and access. In response, BIRAC officials highlighted the establishment of the Indian Biological Data Centre (IBDC), a national repository for life science data, which will provide critical data infrastructure for biotech research in India.
• IP and Patent Protection: Strengthening IP support systems, including patent funds and commercialization clarity, was emphasized wipo.int .
The Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India kuwait-fund.org . Fiinews.com
