Biotechnology Ignition Grant Scheme (BIG)
Ignition Grant (BIG) scheme of the Biotechnology Industry Research Assistance
Council (BIRAC), Government of India. The scheme enables 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.
BIRAC believes that the “bio-innovation capital” of the nation would come from novel ideas which have a commercialisation potential and that evolve out from start-ups or academic spin-offs. BIRAC’s strategy is therefore to support the numerous exciting ideas which have an unmet need for funding and mentorship. This strategy is fulfilled through a grant funding scheme called Biotechnology Ignition Grant (BIG) which is available to scientist entrepreneurs from research institutes, academia and start ups. The Applicant must be either an Incubatee or have a registered company with a functional R&D laboratory to be eligible for this grant. The scheme is designed to stimulate commercialization of research discoveries by providing very early stage grants to help bridge the gap between discovery and invention.
Vision of the grant:
- Foster generation of ideas with commercialisation potential
- Upscale and validate of proof of concept
- Encourage researchers to take technology closer to market through a start up
- Stimulate enterprise formation
The call for proposal is announced twice every year, on 1st January and 1st July. As part of this scheme, successful BIG Innovators receive up to INR 50 lakh (appox. $100K) for research projects with commercialisation potential with duration of up to 18 months.
For more details visit here.