The biotechnology industry is helping to heal, fuel, and feed the world and create significant societal and economic value.
Health biotechnology is transforming the practice of medicine by providing new and better ways to detect, treat, and prevent disease at the molecular level.
Biotech crops are increasing yields to improve food security and also bring significant environmental, economic and nutritional benefits
Animal biotechnology helps increase and improve livestock production.
Industrial biotechnology is transforming the methods of manufacturing many old products and makes new products possible.
Biorefineries are producing renewable fuels, renewable chemicals, and other products that are key components of an emerging biobased economy.
Biotechnology products arise from successful biotech companies. These companies are built by talented individuals in possession of a scientific breakthrough that is translated into a product or service idea, which is ultimately brought into commercialization.
Before undertaking a start-up biotechnology company, one should count the costs because the stakes are exceedingly high. By understanding the challenges before beginning, one will be better prepared to handle them when they arise.
Four Backgrounds of Biotech Entrepreneurs
The typical biotech entrepreneur who starts a company usually comes from one of four background types. Although individuals from any background can start a biotechnology company – so long as they have the ideas, skills, and motivation. The four most common backgrounds of life science entrepreneurs include the following:
The Scientist/Physician/Bioengineer who comes from an academic institution (University, Research Foundation, Non-profi t Research Institute)
The Scientist/Physician/Bioengineer who comes from within the life science industry such as another biotechnology company
A Businessperson,such as a former executive in the life science, pharmaceutical or venture capital industry, who is not a cientist/Physician/Bioengineer
A Core Group of Individualsthat are spun off from another life science organization within the industry
The Department of Biotechnology has established biotech parks in various parts of the country to facilitate product development, research and innovation, and the development of biotechnology industrial clusters
Operational biotech parks are located at Lucknow in Uttar Pradesh, Bangalore in Karnataka, Kalamassery and Kochi in Kerela, Guwahati in Assam and Chindwara in Madhya Pradesh
Biotech Industrial clusters are located in Bangalore (Bangalore Lifesciences cluster and Bangalore Bioinnovation Centre), NCR Faridabad, Pune, Hyderabad and Chennai (Medtech)
The parks offer investors incubator facilities, pilot plants facilities for solvent extraction and laboratory and office spaces
BIRAC has funded 15 incubation centers offering a whole host of instrumentation facilities and services
India constitutes around 8% of the total global generics market, by volume indicating a huge untapped opportunity in the sector
Hybrid seeds, including GM (Genetically Modified) seeds, represents new business opportunities in India based on yield improvement
New Investment opportunities in India are in the areas of
1.Drug discovery and clinical trails
2.Medical devices manufacturing
4. Secondary agriculture
BIRAC has launched an Equity based fund - AcE (Accelerating Entrepreneurs) Fund. An equity fund to address to accelerate the growth of entrepreneurs in the field of biotechnology by lending a funding support of up to - USD 150,000 for promising ventures
( The article is compilation from different articles.)
EDIIs Role in Bio Entrepreneurship
EDII can offer the following support to biopreneurs:
a. Training for entrepreneurship Competencies
b. Preparation of Business Model and Plan in collaboration with a Partner agency
EDII wishes to support a new breed of innovation and research oriented entrepreneurs in coordination with the following agencies. These agencies can help in IP advisory, Project technology validation and incubation.
EDII organised a 1 day brainstorming session with Industry, Academia and Government agencies in developing a road map for enhancing prospects of a bio-economy in the State of Tamil nadu on August 20th 2016.
Any clarification or support required can be obtained from Mr Anandan, Deputy Director, EDII who can be reached at email@example.com or 9840991716