struggles and ended up
with modern day multi-
million enterprises.
While our top experts,
ministers and bureaucrats
have been praising the
biotechnology and other
related sectors as big
opportunity areas yet
we have every right to
be skeptical. The praise
at home doesn’t have to
always be taken at the face
value, critics might say.
“We cannot go overboard
in our aspirations as it
is not just a pipe dream.
We must back it up
with a good enabling
environment and
regulatory setup that
is fair enough to help
us realize our goals,”
mentioned a veteran from
the industry while hinting
towards the pending
policy action points.
Indian’s huge biodiversity
and traditional knowledge
remains unused. The
potential has not been
explored in the past due
to reasons that go beyond
normal discourse.
WHY DO STARTUPS FAIL?
• Lack of focus
• Lack of motivation, commitment and passion
• Lacking good mentorship
• Lack of general and domain-specific business
knowledge
• No market need
• Not the right team
• Got outcompeted
• Pricing/cost issue
• Poor product
• Lack business model
• Poor marketing
Need for more agents
of change!
None can doubt the
sincerity behind
foundation of the
Biotechnology Industry
Research Assistance
Council (BIRAC) that
celebrated its 5th birthday
recently. The Public-
Sector undertaking is
supporting more than
350 companies and 100
young entrepreneurs for
innovation, research and
product development.
While many startups
have been receiving
continuous support from
the organization, there
are few who weren’t
able to receive funding.
The agency’s average
allocated budget has
been roughly around
Rs 200 crore but at the
same time, it has over the
period, successfully raised
money by partnering with
international NGOs such
as the Wellcome Trust or
the Bill and Melinda Gates
Foundation (BMGF).
If we go by the ABLE’s
report, out of the 1022
new start-ups, 104 were
formed in 2016; 367
during 2014 and 2015.
Another 551 companies
BIOVOICENEWS.COM
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