Venture Center Web
NCL, India | NCL Innovations | NCL Innovation Park |
 
Home > Resources & facilities > BIRAC LEAP Fund

BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL

BIRAC LEAP (Launching Entrepreneurial Driven Affordable Products) Fund

The Entrepreneurship Development Center (Venture Center) is hosting a fund under the scheme "LEAP (Launching Entrepreneurial Driven Affordable Products) Fund" of the Biotechnology Industry Research Assistance Council ("BIRAC LEAP Fund")

BIRAC LEAP Fund is meant to provide capital assistance to startups with new and meritorious ideas, innovations and technologies. This would enable some of these start-ups to pilot/commercialize their products/technologies. Thus the proposed funding support is positioned to act as a catalyst in bringing technologies/products forward piloting/commercialization and reducing their gestation period to commercialization.

Quantum of financial assistance to one start up will be up to Rs 100 lakh

The BIRAC LEAP fund at Venture Center emphasizes:

  • Alignment with Venture Center's Focus areas more specifically Biotech/Biomed
  • Product offerings (vs service offerings)
  • IP-rich enterprises
  • Strong knowledge components in enterprises
The BIRAC LEAP fund is only for Indian start ups with minimum 51% ownership by Indian citizens (does not include OCI or PIO).

Selection Criteria:

Here is a list of make/break criteria for applicants:

  • There must be at-least one dedicated entrepreneur involved in the venture
  • There must be a formal business plan
  • The idea and team should be technically sound
  • The venture and the team must have high ethical & professional standards
  • The venture must have a strong technology/knowledge component
  • EHS requirements must be met
  • The team should show potential and credibility for raising money in future
  • The venture must be registered as a private limited company, or must be in the process of registration
  • The amount of funding requested must be less than Rs 100 lakh
  • The entrepreneur(s) must be willing to share equity in the venture

Applications for the seed fund will be reviewed based on criteria such as (but not limited to):

  • Is amount of funding requested enough to reach critical milestone?
  • Does the venture have a clear, potentially significant/singular value proposition
  • How big/fast growing is the potential market?
  • Are target customers clearly identified?
  • How credible is the technology? (Is PoC credible in the opinion of subject-matter experts?)
  • Are there regulatory/certification/policy risks?
  • What are the sources of sustainable competitive advantage (eg. novelty, patentability, etc.)?
  • What is the quality of the business plan (revenue model, product roadmap, market segments, etc.)?

Typical terms for seed funding:

  • Selected startup should be resident incubatee of Venture Center at the time of BIRAC LEAP fund investment
  • Investment mode: Equity ownership in a private limited company
  • Investment amount: Up to 100 lakh
  • BoD representation: 1 Board Nominee Director and/or observer of Venture Center
  • Reporting: Bi-annual presentation to LEAP Fund committee + Annual financials/MIS

Apply here.

Incubatees and other Interested start-ups are encouraged to contact Venture Center for further information at funding@venturecenter.co.in / 020 25865877/78/76

  • Events

(03 Sept 2021) An expert insight on Elemental Impurities in Pharmaceuticals New

(31 Aug 2021) Technology Matchmaker on Biosimilars Showcase: Biosimilar molecules and R&D capabilities New

(27 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant in collaboration with MUTBI New

(26 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant in collaboration with PSG STEP New

(24 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant in collaboration with VNIT Nagpur New

(23 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant in collaboration with AISSMS Institute of Information Technology, Pune New

(21 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant in collaboration with IIT Guwahati New

(18 Aug 2021) BIG Awareness talk on preparation of 19th call of Biotech Ignition Grant at Venture Center New

Archives      Events Dashboard 

  Certificate Authentication  

  • In the news

(15 Aug 2020, Financial Express) Pune gets facility for biopharma analysis

(15 Aug 2020, Sakal Times) Center for Biopharma Analysis Inaugurated at Venture Center

(15 Aug 2020, Deccan Herald) Centre for Biopharma Analysis now operational in Pune

(13 Aug 2020, Times of India) Pune Knowledge Cluster

(13 Aug 2020, Hindustan Times) Pune Knowledge Cluster

Archives      Incubatee News 

  • Announcements

(22 Jul 2021) Call open : BIRAC SEED Fund and LEAP Fund @ Venture Center New

(25 May 2021) Venture Center is a Certified Public Charity in Equivalency Determination done by NGO Source New

(27 Aug 2020) Current & recent openings New

Archives