Karnataka Government Grants 10.7Cr to Startups in the BioTech Sector to Bolster Innovation
Bengaluru, 9th May, 2017: Government of Karnataka has yet again set an example by funding technology-based startups in biotechnology sector. The Government granted 10.7Cr to 26 innovative biotech startups. Keeping with its tradition to promote and nurture innovative ideas that can bring change in the society, the Department of IT and BT of Government of Karnataka will support these startups to develop ideas, technologies and products which can have significant impact on the lives of people.
These winners of the Idea2PoC (proof of concept), an initiative organised by the Karnataka Startup Cell, Department of IT, received cheques upto Rs 50Lakhs(each) in the first tranche from the Honourable IT, BT & Tourism Minister, Shri Priyank Kharge, at Vikasa Soudha, on Tuesday.
Idea2PoC was implemented by Bangalore Bioinnovation Centre (BBC), a Section 8 company set up by KBITS to nurture and promote startups in the field of biotechnology. The initiative is part of India’s first multi-sector Startup Policy launched by the Government of Karnataka in November, 2015. The Policy looks forward to nurture technology-based startups and product-based firms with the support of industry and investors.
Further, this initiative is aimed to discover and encourage innovators who would need early stage funding to boost commercialization of research discoveries and help in validating proof of concept as well as assistance in certification, pilot scale manufacturing and relevant activities.
As part of the Idea2POC programme, a fund is provided in the form of Grant-in-aid up to Rs. 50 lakhs. Considering the need for fund throughout the life cycle of a business plan, funding is released in tranches.
Shri Priyank Kharge, Minister of IT, BT & Tourism, Government of Karnataka, said: “Idea2POC offers entrepreneurs a holistic support system to explore, develop and launch their best ideas. The scheme is designed to identify, mentor and fund enterprising Biotech startups in Karnataka who can create a deep social impact on the lives of people of Karnataka.”
“We use a team-approach in mentoring and that gives the entrepreneurs different perspectives,” the minister added. The Department of IT, BT intends to not only support with funding but also become partner in their journey.
“Our focus is to create a strong startup ecosystem with ideation at the bottom of the pyramid. These are not relationships based on a single conference meeting, but ones that are forged through meaningful experiences we have gone through together,” said Mr Gaurav Gupta, Principal Secretary, Department of IT, BT.
List of 26 startups who were selected under the Idea2PoC Grant Scheme:
1. Bendflex Research & Development Pvt. Ltd – Rs. 49 Lakh
The company aims to develop mechanical biomarkers using compliant micro grippers for application in in-vitro fertilization
2. Omix Research and Diagnostics Laboratories Pvt Ltd – Rs. 49 Lakh
Novel tool for detection and surveillance of antimicrobial resistance among urinary tract infections.
3. AprusBiomedical Innovations Pvt Ltd – Rs. 49 Lakh
Advancedwound care device combining novel thin film hydro-colloidal gel technology withnovel macromolecule delivery using detonation nano diamonds for treatingrecalcitrant diabetic ulcers
4. NesaMedtech Pvt Ltd Rs. 49 Lakh
Anaffordable and minimally invasive therapeutic procedure to treat symptomaticuterine fibroids in reproductive woman
5. JanitriInnovations Pvt Ltd Rs. 25 Lakh
Low cost,portable uterine contraction monitoring device
6. MallipathraNutraceuticals Pvt Ltd Rs. 20 Lakh
A Novel andCost Effective Amino acid Chelate based Foliar Spray for plants comprising theeffluent from silk reeling industry
7. E2eBiotech Pvt Ltd - Rs. 30 Lakh
IntensiveProduction and Purification of high value pigments through novelphoto-bioreactors and design engineering
8. BiomonetaResearch Pvt. Ltd - Rs. 30 Lakh
Electro-dynamicremoval of pathogenic bacteria from healthcare environments
9. PentavalentBio Sciences Private Limited- Rs. 49 Lakh
Precise,rapid and ultrasensitive DNA cassette based tool for antibiotic profiling ofMycobacterium tuberculosis and treatment decision for tuberculosis patients.
10.GenespyResearch Services -Rs. 30 Lakh
Developmentof vaccine strategy against the leukotoxin of Staphylococcus aureus and designof farmer friendly device for monitoring mastitis
11.BioinovatixHealth Care India Pvt Ltd - Rs. 35 Lakh
“Developmentof Chikngunya Virus Like Particles using yeast expression platform”
12.LumisoftTechnologies Pvt. Ltd - Rs.49 Lakh
Potabledigital slit lamp- It helps in diagnosing 70 per cent of conditions causingblindness.
13. DF3DCREATIONS Pvt Ltd - Rs. 49 Lakh
Osteo3D -cloud-based pre-surgical planning platform that leverages 3D printingtechnology for creation of patient-specific models and surgical guides.
14. Dr.Nagashetappa Biradar - Rs. 46.5 Lakh
Software forAutomatic Assessment of Valvular Regurgitation
15.HanugenTherapeutics Private Limited - Rs. 49 Lakh
Design,synthesis, purification and validation of anti-sense oligonucleotides fortherapeutic applications
16.QtlomicsTechnologies Pvt Ltd - Rs. 47.094 Lakh
Developmentof easy to use DNA Barcoding Detection Kit using High Resolution Melting curveanalysis (Bar-HRM) to identify adulterants in common spices
17.TerraBlue Exploration Technologies Pvt Ltd - Rs. 49 Lakh
TJay - AnInnovative Solution for the Prediction & Management of Epilepsy
18.AspartikaBiotech Pvt. Ltd - Rs. 43.1 Lakh
Effectiveconversion of flower waste in synergy with silkworm pupa waste into high valuenutraceutical and cosmetic products
19.ShanthanuChakravarthy – Rs. 49 Lakh
Creation ofVirtual Reality based endoscopy simulator
20.YostraLabs Private Limited - Rs. 49 Lakh
Sparsh- Ahand held device that can perform three quantified screening tests – tactilethreshold, vibration perception threshold and thermal perception thresholdtest, which help in early diagnosis of (Diabetic Peripheral Neuropathy) DPN.
21.NextBig Innovation Labs Pvt Ltd – Rs. 49 Lakh
Developmentof India’s first 3D Bio-Printer and its Medical Applications
22.AindraSystems Private Limited - Rs. 49 Lakh
An automatedand affordable ‘Point-of-sample collection’ screening tool for Cervical Cancer
23.JayachandraS. Yaradoddi – Rs. 25 Lakh
Economicalproduction of eco-friendly bioplastic material for packaging segment
24.ViravecsLabs – Rs. 39.5 Lakh
Developmentof novel nano particle based formulations for in vivo delivery of genomeediting tools for therapeutic interventions of genetic disorders
25.G. R.Manjunath - Rs. 25 Lakh
Micro-Bubblebased STP (Sewage Treatment Plant)
26.KrimmiBiotech Llp – Rs. 25 Lakh
Developmentof a Meliorated Diet Formulation for Rearing Commercially Important Worms suchas Bombyx mori (Silkworm) and Galleria mellonella (Greater Wax Moth) andSubsequent Utilization of Their Discarded Pupa for Production of NovelBio-pesticides