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India aims for at least 1,500 biotech start-ups in the coming years

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Kolkata, “We presently have around 500 start-ups in the biotech sector. It is less in comparison with other sectors. We plan to scale it up to 1,500 to 2,000 in the next two to three years,” said Renu Swarup, department of biotechnology’s senior adviser and managing director of the Biotechnology Industry Research Assistance Council (BIRAC).

She pointed out that there was a growing market for biotech products and services given India’s population and its needs.

Biotech start-ups are into bio-pharma (diagnostics and therapeutics), agricultural (biofertilisers, hybrid seeds etc.), bioinformatics and drug development, etc.

They are directly or indirectly linked to the health and agricultural sectors,” Swarup told .

India aims to scale up start-ups in the biotechnology sector to at least 1,500 in the next two to three years to boost technological interventions in the health and agriculture sectors, a senior biotechnology department official said.

Prime Minister Narendra Modi earlier this year announced a ‘Start-up India, Stand up India’ campaign to promote bank financing for start-ups and offer incentives to boost entrepreneurship and job creation.

“Under the new initiative, if we can create a favourable business environment, we can tap into our own products and know-how for solutions in health and agriculture,” she said.

It would also help researchers to become ‘tech-preneurs’.

“We have seen good interventions happening in Odisha and Tamil Nadu,” said Swarup.

The Indian biotech industry holds about two percent share of the global biotech sector. At present India is ranked 12th in the world in the biotech sector and third in the Asia-Pacific region.

By 2017, the size of India’s biotech industry is estimated to increase to $11.6 billion from $4.3 billion in 2012.

Indian biotech entrepreneur Kiran Majumdar Shaw has said that the emergence of biotech start-ups is resulting in a reverse brain drain.

Currently, Swarup said, new products have emerged from the Grand Challenges India (GCI) Interventions. The GCI was jointly launched by BIRAC under the department of biotechnology and the Bill and Melinda Gates Foundation in 2013.

“These include improved sanitation technologies and bio-digester designs. Initially, they will be showcased as demonstrations on a large scale and subsequently introduced in the market,” she said.

( IANS)
(Photo Credit : bagbiotechnika.com)

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Top 10 startups funded by celebrities

The buzzword of Indian economy 'Startup' gaining the attention of celebrities

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Funds Ziddu. Wikimedia commons
Funds Ziddu. Wikimedia commons

Recently celebrities have been ready to invest in valuable startups. India has become one of the fastest growing startup ecosystems in the world, hence many celebrities seem to have growing business interests.

Here is the list of top 10 celebrities which are funding some major startups.

You may also like: Startup and a more competitive India

1. Ziddu funded by Amitabh Bachchan

Funds grouphomebuyers.com Wikimedia commons
Funds grouphomebuyers.com Wikimedia Commons

The actor decided to invest $250,000 in a startup based in Singapore, in 2015. Ziddu, a cloud service provider, was founded by Venkata Srinivas Meenavalli. It is run by Meridian Tech, and also offers free file hosting for documents, pictures, video, and audio.

2. Grouphomebuyers.com funded by Shilpa Shetty

A site which has a listing of new and upcoming residential projects from top cities. Shilpa Shetty is the co-founder of this website which has helped 200 families get properties at discounted prices.

3. Pulse funded by Chetan Bhagat

This new age photo-sharing mobile app was founded by Karthik Vaidyanath and Prakhar Khanduja. This app has a combo of articles and user-generated content. It is a bit like Snapchat, but one major difference is that you cannot take screenshots of this one. Many prominent people have participated in its funding, one name is Chetan Bhagat.

4. Healthians funded by Yuvraj Singh

One of the many startups that Singh has invested in, is Healthians. It is a home service health test platform that operated in NCR. It is now launched in Mumbai and Bangalore too.

Funds Qyuki. Wikimedia commons
Funds Qyuki. Wikimedia Commons

5. Qyuki funded by A.R. Rahman and Shekhar Kapur

They both joined hands in 2012 to launch a social media platform. Qyuki aims to engage Indian youth to new media content. It was built on Cisco’s cloud infrastructure and had received an investment from it too.

Read more: Bollywood celebs security trimmed

6. Yatra funded by Salman Khan

All of us know about Being Human. However, what we don’t know is that Salman Khan has a 5% stake in Yatra.com. He is also the brand ambassador for the company.

7. HealthEminds funded by Robin Uthappa

It was in March 2016 that Uthappa invested an undisclosed amount in HeathEMinds. The startup aims at helping people to deal with mental stress and depression. It was started in 2013, the startup offers video counselling without disclosing the identity of the caller.

Funds Muvizz. Wikimedia Commons

8. Muvizz funded by Manoj Bajpayee

Muvizz was founded by Bajpayee’s friends Abhayanand Singh and Piyush Singh. This startup offers cult, classic and independent films to lovers of cinema around the world. It is a Video-On-Demand platform.

9. GOQii funded by Madhuri Dixit

This startup designs wearable fitness bands, it also provides fitness training. Madhuri started out as an investor with GOQii founded by Vishal Gondal. Dr. Sriram Nene, Dixit’s husband, is the CMO of the company.

10. Indi funded by Anil Kapoor

It is video social network founded by Neel Grover which was launched in 2012. Kapoor invested an undisclosed amount in the startup.