With the aim to strengthen India’s Biotech Startup Ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce & Industry Ministry signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS).
With the aim to strengthen India’s Biotech Startup Ecosystem, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Commerce & Industry Ministry signed a Memorandum of Understanding (MoU) with Thermo Fisher Scientific (TFS). The partnership will accelerate innovation in India’s biotechnology sector and nurture a strong pipeline of high-growth startups.
The agreement aims to support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect, according to a ministry statement here on Wednesday.
As part of the MoU, TFS under Startup India, DPIIT’s initiative Bharat Startup Grand Challenge (BSGC) will launch the BioVerse Challenge, a nationwide platform to identify and nurture India’s most promising biotech entrepreneurs, and the BioVerse Mentors Circle to provide skill development and technical training across leading bio-incubators.
Under the MoU, BioVerse Challenge will identify and support 100 high-potential biotech startups with intensive strategic mentorship, subsidised access to research and development facilities, and investor connections.
BioVerse Mentors Circle will train and guide an additional 400 startups, expanding access to advanced biotech techniques and entrepreneurial know-how. A BioVerse Alumni Network will provide long-term mentorship, coaching, and funding opportunities to participating startups.
Thermo Fisher Scientific brings unmatched expertise in life sciences research, diagnostics, and biotechnology. Together with Startup India and DPIIT, this initiative will catalyse India’s position as a global hub for biotech innovation, the ministry said.
Source: Thestatesman
