The Union Cabinet today approved the setting up of “Biotechnology Industry Research Assistance Council (BIRAC) “ as ‘not-for-profit’ section 25 company with a vision to stimulate, foster and enhance the strategic research and innovation capabilities of the Indian biotech industry particularly SME’s, to make India globally competitive in biotech innovation and entrepreneurship and to create affordable products and services.
BIRAC will operate with a core budget for its regular activities and recurring expenses for human resources and operational cost with an initial outlay of Rs.70 crore for two years.
BIRAC is being set up as a separate body for supporting product innovation and providing required infrastructure and services at different stages of the value chain for promoting innovation and product development.
BIRAC will provide funding/investment for
• Early and late stage, including Small Business Innovation Research Initiative (SBIRI), Biotechnology Industry Partnership Programme (BIPP) and Ignition grant.
• Technology transfer and acquisition in national priority areas
• Technology development – incubators, parks
It will also provide support services such as IP facilitation, legal and contracts, regulatory and clinical trail facilitation; mentoring and capacity building.
The company would function as the Government’s, inter-phase agency for supporting industry –academia interaction, which will service as a single window for the emerging biotech industry through which they can acquire knowledge, access world class R&D infrastructure, access rate limiting serious technologies and seek technical problem solving help regulatory advice.
Background:
The proposal for setting up of an innovation support organisation – Biotechnology Industry Research Assistance Council (BIRAC) will address the felt need in the government system for providing a comprehensive enabling environment and technology related service package to promote, nurture and support medium and high level innovation in biotech research. This would be particularly useful for small and medium size companies, and also support and facilitate creation of new start-ups.
BIRAC will operate with a core budget for its regular activities and recurring expenses for human resources and operational cost with an initial outlay of Rs.70 crore for two years.
BIRAC is being set up as a separate body for supporting product innovation and providing required infrastructure and services at different stages of the value chain for promoting innovation and product development.
BIRAC will provide funding/investment for
• Early and late stage, including Small Business Innovation Research Initiative (SBIRI), Biotechnology Industry Partnership Programme (BIPP) and Ignition grant.
• Technology transfer and acquisition in national priority areas
• Technology development – incubators, parks
It will also provide support services such as IP facilitation, legal and contracts, regulatory and clinical trail facilitation; mentoring and capacity building.
The company would function as the Government’s, inter-phase agency for supporting industry –academia interaction, which will service as a single window for the emerging biotech industry through which they can acquire knowledge, access world class R&D infrastructure, access rate limiting serious technologies and seek technical problem solving help regulatory advice.
Background:
The proposal for setting up of an innovation support organisation – Biotechnology Industry Research Assistance Council (BIRAC) will address the felt need in the government system for providing a comprehensive enabling environment and technology related service package to promote, nurture and support medium and high level innovation in biotech research. This would be particularly useful for small and medium size companies, and also support and facilitate creation of new start-ups.
No comments:
Post a Comment