BIRAC’s Biotechnology Ignition Grant for Igniting New Ideas! Win Upto INR 50 Lakhs Grant-in-Aid

Deadline: 16 February 2019

The Biotechnology Industry Research Assistance Council (BIRAC) is currently seeking proposals for its “Biotechnology Ignition Grant (BIG) Scheme” to enable technology innovators and entrepreneurs to pursue a promising technology idea, and establish and validate proof of concept (POC) for the idea.

By funding establishment and validation of POC, BIRAC wishes to help innovators and entrepreneurs advance an idea closer to eventual commercialization/implementation in the form of technology licenses or creation of start-up companies or raising investments for the company. The scheme aims to support high-risk technology ideas with considerable potential for impact.

Purpose

To support projects that aim to establish or validate proof of concept for a promising and innovative technology idea.
To promote the creation of new start-ups based on innovative technology ideas and/or to support early start-ups to establish and validate their technology ideas up to the POC stage.

Funding Information

Grant-in-aid up-to INR 50 lakhs for a maximum period of 18 months.

Nature of Projects

Projects that propose a process/ product innovation with significant potential impact or commercial potential
Projects with clear technology objectives
Projects focused on establishing or validating proof-of-concept for a technology idea
Projects aimed at technology de-risking i.e., reducing uncertainties in the technology

Eligibility Criteria

Individuals
- The individual applicant should be an Indian citizen.
- The primary applicant should be the Project Leader who meets eligibility requirements mentioned below
- The applicant has to be physically incubated in an incubator. At the time of application, the applicant needs to minimally identify his/her preferred incubator and produce a letter from the incubator of having initiated discussions on subscribing to incubation services; however, a formal acceptance from the incubator will be required before final grant approval.
- If the applicant is formally employed (or registered as a student) with a non-profit academic or research organization, then
  - the applicant has to produce a No Objection Certificate (NOC) from the head of the organization clearly indicating that the organization has policies in place to allow the applicant to accept funding support (if successful) as an individual and undertake BIG projects in an incubator or alternatively, has policies in place to allow its employees to create entrepreneurial ventures while in service or while in sabbatical leave or while in EOL.
  - Alternatively, the applicant needs to provide an undertaking that he/she plans to terminate his association with the current employer and take up the project full time in the event of a grant approval. A resignation/ relieving/retirement letter will be needed as supporting document before final approval and release of the grant.
- If the applicant is formally employed with a forprofit company,
  - the applicant needs to provide an undertaking that he/she plans to terminate his association with the current employer and take up the project full time in the event of a grant approval (A resignation/ relieving/retirement letter will be needed as supporting document before final approval and release of the grant.), or,
  - Alternatively, the applicant needs to apply as Company.
- Individual who is a promoter shareholder of any company or one of the partners in any LLP will not be allowed to apply as an individual, irrespective of the percentage of shareholding of the applicant in the company. (In such a case, the application can be submitted through company/LLP route, in case the company/LLP meets the required eligibility criteria as detailed below)
Company/ LLP
- The Company/LLP should be registered under the Indian Companies Act, 1956/2013
- The incorporation date of the Company/LLP should not be earlier than 5 years from the date of launch of the BIG
- A company is considered as ‘Owned’ by resident Indian citizen if minimum 51% of the capital in it is beneficially owned by resident Indian citizens and / or Indian companies, which are ultimately owned and controlled by resident Indian citizens
- A Project Leader who meets eligibility requirements mentioned below must represent the Company/LLP’s application.
- The Company/LLP must have its own in-house R&D facilities that are functional and adequate to execute the project. If the Company does not have a functional and adequate laboratory of its own. (This shall be verified by BIG Partners via a visit during pre-grant due diligence), then it should be incubated at an incubator with functional and adequate laboratory facilities.
- An applicant company, in which any promoter holding more than or equal to 20% of the shares, is a copromoter of another ineligible company or a partner in another ineligible LLP, then the applicant will not be eligible. The only exception to this shall be situations wherein the latter ineligible company/LLP is operating in non-biotech domains. In case applicant is a LLP: An applicant LLP, in which any of the partners is also a partner in another ineligible LLP or is a co-promoter in another ineligible company, then the applicant will not be eligible. The only exception to this shall be situations wherein the latter ineligible LLP/company is operating in non-biotech domains.
Other Eligibility Criteria
- Project leader
  - Every proposal must clearly identify a Project Leader who will take responsibility for the technical and managerial aspects of the project execution.
  - The Project Leader must be technically qualified to undertake the project. The Project Leader must have completed basic undergraduate training in natural sciences/engineering/ medicine. Essential qualification is PhD/MTech/BTech/BPharm/MD/MBBS/BDS/ MSc / M Phil/ M Des / MPH /MBA / MSW and equivalents with under- graduate training in Science, Medicine, Engineering. Project Leaders with a BSc degree with at least 1 year of full-time work or research experience shall also be eligible.
  - In the event that the proposal is shortlisted for presentation in front of the Expert Selection Committee, then the same Project Leader will be required to present the case for support. In the event that proposal is shortlisted for funding support, then the Project Leader will be required to sign the project agreement.
- Others
  - Applicants are expected to show documentary evidence that they have tied up the following critical resources needed to execute the project:
    - At the time of application and prior to shortlisting for presentation to the Technical Expert Panel (TEP) (to be verified by BIG Partners):
      - Letter of commitment from Scientific Advisors/Mentors to serve as honorary advisors
      - Letter of intent of key members of the technical team
      - Letter of interest/intent from the incubator
      - Evidence of access to key facilities needed to execute a project (ex: BSL3 facility)
      - Evidence of access to key samples needed to execute the project (ex: bio-fluids)
    - At the time of due diligence and grant finalization
      - Letter of acceptance or MoU with incubator
      - Formal agreements/ MoUs with other key facilities/ suppliers
      - Any other due diligence documents requested in case to case basis by BIG Partners
  - The project cannot be the same as another project by the same applicant with the same scope and objectives that has already received funding from another source of government grant-in-aid funding.
  - An individual/organization that has already received BIG support once is not eligible for receiving BIG funding support once again.
- Individual to Company Conversion
  - Since one of the goals of BIG is to promote creation of scientific start-ups, we allow an individual applicant to set up a new company and transfer the application/project to the newly formed company. The newly formed company will need to meet all eligibility criteria as listed above for a company applicant under BIG and comply with the due diligence requirements. The Project Leader will also need to remain the same and need to be a promoter shareholder in the new start- up.