Karnataka Government Grants 10.7Cr to Startups in the BioTech Sector to Bolster Innovation

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26 technology-based startups in the biotechnology sector received upto 50lakhs each in the first instalment of the Idea2POC programme

·      Department of IT/BT will groom these winners through their growth journey. Their technology-based ideas are expected to make great impact on biotech sector    

Department of IT, BT Government of Karnataka

PRESS RELEASE

 

Bengaluru, 9th May, 2017:Government of Karnataka has yet again set an example by funding technology-based startups in biotechnology sector. The Government granted 10.7Cr to 26 innovative biotech startups. Keeping with its tradition to promote and nurture innovative ideas that can bring change in the society, the Department of IT and BT of Government of Karnataka will support these startups to develop ideas, technologies and products which can have significant impact on the lives of people.

These winners of the Idea2PoC (proof of concept), an initiative organised by the Karnataka Startup Cell, Department of IT, received cheques upto Rs 50Lakhs(each) in the first tranche from the Honourable IT, BT & Tourism Minister, Shri Priyank Kharge, at Vikasa Soudha, on Tuesday.

Idea2PoC was implemented by Bangalore Bioinnovation Centre (BBC), a Section 8 company set up by KBITS to nurture and promote startups in the field of biotechnology. The initiative is part of India’s first multi-sector Startup Policy launched by the Government of Karnataka in November, 2015. The Policy looks forward to nurture technology-based startups and product-based firms with the support of industry and investors.

Further, this initiative is aimed to discover and encourage innovators who would need early stage funding to boost commercialization of research discoveries and help in validating proof of concept as well as assistance in certification, pilot scale manufacturing and relevant activities.

As part of the Idea2POC programme, a fund is provided in the form of Grant-in-aid up to Rs. 50 lakhs. Considering the need for fund throughout the life cycle of a business plan, funding is released in tranches.

Shri Priyank Kharge, Minister of  IT, BT & Tourism, Government of Karnataka, said: “Idea2POC offers entrepreneurs a holistic support system to explore, develop and launch their best ideas. The scheme is designed to identify, mentor and fund enterprising Biotech startups in Karnataka who can create a deep social impact on the lives of people of Karnataka.”

“We use a team-approach in mentoring and that gives the entrepreneurs different perspectives,” the minister added. The Department of IT, BT intends to not only support with funding but also become partner in their journey.

“Our focus is to create a strong startup ecosystem with ideation at the bottom of the pyramid. These are not relationships based on a single conference meeting, but ones that are forged through meaningful experiences we have gone through together,” said Mr Gaurav Gupta, Principal Secretary, Department of IT, BT.

List of 26 startups who were selected under the Idea2PoC Grant Scheme:

1.    Bendflex Research & Development Pvt. Ltd – Rs. 49 Lakh

The company aims to develop mechanical biomarkers using compliant micro grippers for application in in-vitro fertilization

2.    Omix Research and Diagnostics Laboratories Pvt Ltd – Rs. 49 Lakh

Novel tool for detection and surveillance of antimicrobial resistance among urinary tract infections.

3.    Aprus Biomedical Innovations Pvt Ltd – Rs. 49 Lakh

Advanced wound care device combining novel thin film hydro-colloidal gel technology with novel macromolecule delivery using detonation nano diamonds for treating recalcitrant diabetic ulcers

4.    Nesa Medtech Pvt Ltd Rs. 49 Lakh

An affordable and minimally invasive therapeutic procedure to treat symptomatic uterine fibroids in reproductive woman

5.    Janitri Innovations Pvt Ltd Rs. 25 Lakh

Low cost, portable uterine contraction monitoring device

6.    Mallipathra Nutraceuticals Pvt Ltd Rs. 20 Lakh

A Novel and Cost Effective Amino acid Chelate based Foliar Spray for plants comprising the effluent from silk reeling industry

7.    E2e Biotech Pvt Ltd – Rs. 30 Lakh

Intensive Production and Purification of high value pigments through novel photo-bioreactors and design engineering

8.    Biomoneta Research Pvt. Ltd – Rs. 30 Lakh

Electro-dynamic removal of pathogenic bacteria from healthcare environments

9.    Pentavalent Bio Sciences Private Limited- Rs. 49 Lakh

Precise, rapid and ultrasensitive DNA cassette based tool for antibiotic profiling of Mycobacterium tuberculosis and treatment decision for tuberculosis patients.

10.Genespy Research Services -Rs. 30 Lakh

Development of vaccine strategy against the leukotoxin of Staphylococcus aureus and design of farmer friendly device for monitoring mastitis

11.Bioinovatix Health Care India Pvt Ltd – Rs. 35 Lakh

“Development of Chikngunya Virus Like Particles using yeast expression platform”

12.Lumisoft Technologies Pvt. Ltd – Rs.49 Lakh

Potable digital slit lamp- It helps in diagnosing 70 per cent of conditions causing blindness.

13. DF3D CREATIONS Pvt Ltd – Rs. 49 Lakh

Osteo3D – cloud-based pre-surgical planning platform that leverages 3D printing technology for creation of patient-specific models and surgical guides.

14. Dr. Nagashetappa Biradar – Rs. 46.5 Lakh

Software for Automatic Assessment of Valvular Regurgitation

15.Hanugen Therapeutics Private Limited – Rs. 49 Lakh

Design, synthesis, purification and validation of anti-sense oligonucleotides for therapeutic applications

16.Qtlomics Technologies Pvt Ltd – Rs. 47.094 Lakh

Development of easy to use DNA Barcoding Detection Kit using High Resolution Melting curve analysis (Bar-HRM) to identify adulterants in common spices

17.Terra Blue Exploration Technologies Pvt Ltd – Rs. 49 Lakh

TJay – An Innovative Solution for the Prediction & Management of Epilepsy

18.Aspartika Biotech Pvt. Ltd – Rs. 43.1 Lakh

Effective conversion of flower waste in synergy with silkworm pupa waste into high value nutraceutical and cosmetic products

19.Shanthanu Chakravarthy – Rs. 49 Lakh

Creation of Virtual Reality based endoscopy simulator

20.Yostra Labs Private Limited – Rs. 49 Lakh

Sparsh- A hand held device that can perform three quantified screening tests – tactile threshold, vibration perception threshold and thermal perception threshold test, which help in early diagnosis of (Diabetic Peripheral Neuropathy) DPN.

21.Next Big Innovation Labs Pvt Ltd – Rs. 49 Lakh

Development of India’s first 3D Bio-Printer and its Medical Applications

22.Aindra Systems Private Limited – Rs. 49 Lakh

An automated and affordable ‘Point-of-sample collection’ screening tool for Cervical Cancer

23.Jayachandra S. Yaradoddi – Rs. 25 Lakh

Economical production of eco-friendly bioplastic material for packaging segment

24.Viravecs Labs – Rs. 39.5 Lakh

Development of novel nano particle based formulations for in vivo delivery of genome editing tools for therapeutic interventions of genetic disorders

25.G. R. Manjunath – Rs. 25 Lakh

Micro-Bubble based STP (Sewage Treatment Plant)

26.Krimmi Biotech Llp – Rs. 25 Lakh

Development of a Meliorated Diet Formulation for Rearing Commercially Important Worms such as Bombyx mori (Silkworm) and Galleria mellonella (Greater Wax Moth) and Subsequent Utilization of Their Discarded Pupa for Production of Novel Bio-pesticides

 

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