India Action Plan . The DBT , in line with the Start-Up India Action Plan has undertaken a number of initiatives centered on the three pillars of an ideal innovation ecosystem – funding , mentoring and capacity building , and the infrastructure to translate scientific research into commercial products . To this end , BIRAC implements its mandate through a wide range of high impact initiatives , providing access to risk capital through targeted funding , facilitating technology transfer , and supporting intellectual property management and handholding schemes for biotech firms to make them globally competitive .
“ Through initiatives such as Start-Up India and the Science and Technology for Harnessing Innovations or SATHI , the government is ushering in supportive policies and removing regulatory barriers to create an atmosphere of innovation and entrepreneurship in the country . The world as a whole stands to gain with Indian innovators stepping up and changing the way we address the grand challenges we face today . We are proud that BIRAC has created an enabling environment for the biotechnology industry to prosper ,” said Dr . Renu Swarup , Senior Adviser , Department of Biotechnology and Managing Director , BIRAC .
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