BIRAC aims to promote and foster cutting-edge technologies in the field of medical electronics through this scheme. The project IIPME is a partnership project between the Department of Electronics and Information Technology, Ministry of Communications and Information Technology, Government of India, and Biotechnology Industry Research Assistance Council, a public sector undertaking of the Department of Biotechnology, Ministry of Science and Technology, Government of India.
Eligibility: Indian startups which are less than three years old from date of advertisement which have 51% ownership, Indian LLPs and those which have Department of Scientific and Industrial Research (DSIR) Recognition (only for early transition & transition to scale) are eligible to apply under the scheme.
Funding Grant: The loan and grant are provided according to the startup stage. The Seed Grant (Idea to PoC) is INR 50 Lakhs for 18 months, early transitions funding include INR 100 Lakhs for 24 months and for those transitioning to scale, a mix of grant & loan for 24 Months is provided.
Time Period: The call for application is made three times a year, with evaluation cycle starting from July 10, November 10, and March 10 in the specified order.