Biotechnology Ignition Grant (BIG) Scheme
The Biotechnology Ignition Grant (BIG) Scheme, a flagship initiative of BIRAC, empowers biotech entrepreneurs and startups. It provides grant-in-aid to support innovative ideas from ideation to proof of concept, fostering the development of commercially viable products and technologies.
What is the BIG Scheme?
The BIG Scheme is a grant program that funds innovative biotech ideas with commercial potential. It supports individual entrepreneurs and startups by providing financial assistance and mentoring to validate their concepts and move towards commercialization.
Key Objectives of the Scheme
· Ideation to Proof of Concept: To support innovative ideas from the initial stage to the proof of concept.
· Nurture Entrepreneurship: To foster entrepreneurship in the biotech sector and enable the translation of ideas into commercial products.
· Enhance Global Competitiveness: To strengthen the biotech startup ecosystem in India and make it globally competitive.
· Address Unmet Needs: To support projects that address unmet needs in healthcare, agriculture, and other bio-based industries.
Eligibility Criteria for the Scheme
· Individuals:
o Indian citizen.
o Incubated in an incubator.
o No Objection Certificate (NOC) from the current employer (if applicable).
o Cannot be a promoter shareholder of an existing Biotech company.
· Companies/LLPs:
o Registered under the Indian Companies Act, 1956/2013.
o Incorporated within the last 5 years.
o Minimum 51% ownership by resident Indian citizens.
o In-house R&D facility or incubated in an incubator.
o Project leader must be a shareholder in the company.
Benefits of the Scheme
· Grant-in-Aid: Up to INR 50 lakhs (approx. USD 75,000) for 18 months.
· Mentoring Support: Technical, IP, legal, business, and regulatory mentoring.
· Networking and Outreach: Opportunities to connect with industry experts and investors.
· Training and Guidance: Support in various aspects of business development and commercialization.
How to Apply for the Scheme?
1. Online Application: Apply through the BIRAC website: www.birac.nic.in.
2. Registration: Register as a "BIG User" on the BIRAC website.
3. Application Submission: Fill and submit the online application form.
4. Selection Process: Undergo a multi-tier selection process, including eligibility checks, expert reviews, and due diligence.
Documents Required for Application
· Letter of Commitment: From Scientific Advisors/Mentors.
· Letter of Intent: From key members of the technical team and the incubator.
· Evidence of Access: To unique facilities and key samples.
· Letter of Acceptance/MoU: With the incubator.
· Formal Agreements/MoUs: With facility providers/suppliers.
· Undertaking: That the project has not received funding from other agencies.
· Any other due diligence documents requested by BIG Partners.
FAQs About the Scheme
1. What is the grant amount?
Up to INR 50 lakhs.
2. What is the project duration?
Up to 18 months.
3. Who is eligible to apply?
Indian citizens and eligible biotech startups/LLPs.
4. How do I apply?
Through the BIRAC website.
5. What kind of projects are supported?
Projects in healthcare, life sciences, agriculture, and industrial biotechnology.
Why Should You Apply for the Scheme?
The BIG Scheme provides critical funding and support for biotech entrepreneurs and startups to validate their innovative ideas and bring them to market. It offers a unique opportunity to access resources, mentorship, and networks that can significantly accelerate the commercialization process.
Conclusion
The Biotechnology Ignition Grant (BIG) Scheme is a vital catalyst for innovation in the Indian biotech sector. By providing financial assistance and comprehensive support, it empowers entrepreneurs to transform their ideas into impactful products and technologies, contributing to the growth and development of the industry.