only a single BIRAC for
such an upcoming big
sector, pointing towards
the reality that the
organization is not able
to support each one of
the startups due to its
limitations. We must
realize that there are
many unseen faces who
couldn’t get the funding,
may be due to their own
mistakes in articulation of
what they do or perhaps
not fulfilling the criteria.
They too deserve the
funding if their idea
is novel.
Our policymakers have
now come up with the
programmes such as
‘Make In India’ and
‘Startup India’ to boost
the startup ecosystem
in India. The Atal
Innovation Mission with
Rs 500 crore allocation
and Rs 1000 crore Self-
Employment and Talent
Utilization (SETU) is
Government of India’s
endeavor to promote a
culture of innovation
and entrepreneurship
across sectors.
The broader policy is fine
but each one of the sectors
within the bioscience
sector requires individual
attention. Beyond
funding, from dairy
industry to agriculture;
the foo d industry to
marine sector; from
medical technology to
biopharmaceuticals, only
the multi-disciplinary
approach to convert
Figure : Of the 1022 new
bioscience start-ups, 104
were formed in 2016; 367
during 2014 and 2015.
Another 551 companies
were established between
the years 2012 and 2014.
(Source: ABLE Report)
the hidden seeds of
innovation will work.
The robust democratic
feedback system,
an essence of any
continuously successful
enterprise, must be
incorporated in policy
set up as well. Indian
startup policymaking
too will have to follow
the same standards that
are expected from the
entrepreneurs.
BIOVOICENEWS.COM
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