BIRAC believes that the “bio-innovation capital” of the nation would come from novel ideas which have a commercialization potential and that evolve out from start-ups or academic spin-offs. BIRAC’s strategy is therefore to support the numerous exciting ideas which have an unmet need for funding and mentorship. This strategy is fulfilled through a grant funding scheme called Biotechnology Ignition Grant (BIG) which is available to scientist entrepreneurs from research institutes, academia and start ups. The Applicant must be either an Incubatee or have a registered company with a functional R&D laboratory to be eligible for this grant. The scheme is designed to stimulate commercialisation of research discoveries by providing very early stage grants to help bridge the gap between discovery and invention.
Eligibility: The Applicant should be an Indian citizen and has to be physically incubated in an incubator and produce a recommendation. They must provide termination for full-time association of project. Applicants from non-profit/research organisation need to furnish an NOC. The Promoter/shareholder of any LLP is not eligible.
Funding Grant: Up to INR 50 Lakhs for research projects with a commercialisation potential with duration of up to 18 months are provided.