of antibiotic resistance
is circumvented. The
R&D product has
reached to pre-clinical
investigative studies.
“This problem has not
been looked on with
attention and we believe
this problem can be solved
with strategically devising
the treatment options,”
mentioned Mr Milind
Chaudhari, who is the
primary founder and Chief
Executive Officer of the
WeInnovate Biosolutions.
A look at the journey
The company faced
few initial challenges
starting form technology
validation to funding to
regulatory but Milind
says his team has been
strategically tackling the
same. He elaborates,
“Initially organizing the
set up and joining hands
with the right people was
the biggest challenge. We
strategize hiring policy
on the basis of “On same
stage” policy, by this we
can get the people who
have same understanding
as we, distributing
work become easy
thereafter. We struggled
for investments too,
fortunately the science
behind the technology was
strong so the government
agencies put money and
that made it easy for the
investors to follow.”
Estimates
have shown
that up to 25
percent of
patients with
diabetes develop
a foot ulcer, and
approximately
56 percent
of diabetic
ulcerations
will become
infected and 20
percent of such
patients will
have to undergo
lower limb
amputations.
The journey of the
company started with
an idea for which it
was initially funded
by a grant from the
Biotechnology Industry
Research Assistance
Council (BIRAC) under
the scheme Biotechnology
Ignitions grant of 36.8
Lakh to finish the proof
of concept study for 18
months. Once the team
proved its concept,
it started working
on validation studies
for which again an
investment of Rs 50 lakh
was raised from NSTEDB
followed by a matching
grant of 50 Lakh from
SBIRI scheme of BIRAC.
During a pitching session,
the company also won the
Healthcare accelerator
competition organized by
CIIE, IIM-Ahmadabad,
with a prize we got 10
Lakh grant support for
product development.
“Though there was a
background data already
generated, however
converting an Idea in to
enterprise requires a lot of
imputes. So, I went ahead
to look for a co-founder
and realized a technology
company need brilliant
scientists initially, reveals
Milind, adding “I found
two of my friends from
my Grad school who were
enthusiastic committed
and ready to work with
less money. We also got
few senior scientists in the
BIOVOICENEWS.COM
25