Leg-up to pharma, biotech pastures

Leg-up to pharma, biotech pastures

Leg-up to pharma, biotech pastures

They want to propel research in pharmaceutical and biotechnology sectors, as also encourage entrepreneurs from the fields in both the countries.

This science bridge brings together industrialists, academics and students to undertake research in drug discovery, biological and cellular medicines,  with the goals of delivering:
n  Clinical and commercial benefits from patent protected research, made possible by the synergistic research expertise across the Science Bridge.

- World-class human resources, with hands on experience of innovation and interfacing with industry.

- An assessment of the supply chain and outsourcing potential for long-term business engagement and policy formulation.

- Long-term collaborations exploiting the unique capabilities of each country.

Taking this forward, the Centre (Ministry of Science & Technology) along with Research Councils, United Kingdom, is organising Bio-Pharma 2020: UK-India Biotechnology Business Challenge.

BioPharm 2020, according to the Ministry of Science & Technology, has been designed “to help the brightest and the best of scientists with promising scientific advances underpinning a business idea to progress their concept towards commercial reality.”

While the competition is open to all scientists in healthcare and pharmaceutical sciences, either in India or the UK, the scientist (team leader) is required to own intellectual property (or have full written consent to exploit the intellectual property) that underpins the business idea. As the competition is designed to support entrepreneurship, the business entity must not already be in existence.

Further, the winner of the best India entrant award will receive a package of benefits worth over Rs 15 lakh to assist in starting up a new company, including: Rs 5 lakh cash award for early start-up costs, 2 years’ incubation facilities at SIDBI-Innovation & Innovation Centre (SIIC) of Indian Institute of Technology, providing room space, accommodation and support with IPR protection costs, lab testing and prototyping costs and more.

Similarly, the winner of the best UK entrant award will receive a package of benefits worth over £40,000 to assist them in starting up a new company, including: £20,000 cash award for early start-up costs, 12 months’ business start-up facilities at BioCity, Nottingham, mentoring and business advice and more.

Besides, teams will have access to a range of online tools and resources, including master classes from experts, to help them develop their business idea.

Successful finalists will receive team-mentoring and support from professional business advisors before pitching their business to an influential panel of judges on September 03, 2010. The deadline for submission is May 14, 2010.