BIRAC
Relevent Country: India
Type of work: Research and Survey
Last Date: 05-01-2023
The Biotechnology Industry Research Assistance Council (BIRAC) invites applications for the 3rd National call under Fund of Funds – AcE Fund from SEBI registered category I and II AIFs (Alternative Investment Funds).
Biotechnology including medical technologies industry (hereafter referred to as “Biotech”) has the power to provide solutions to myriad challenges that we face in healthcare, food & nutrition, agriculture, renewable energy and environment remediation. It is also known that biotech product development is associated with significant risks especially it requires significant amount of capital as well as a long gestation period sometime up to 10-12 years.
The proposed initiative – BIRAC AcE (Accelerating Entrepreneurs) Fund (hereafter referred to as “AcE Fund”), operate as “Fund of Funds” which will foster R&D and innovation in Biotechnology domains (including areas such as healthcare, pharma, medical devices, agriculture, sanitation to name a few). AcE Fund shall invest in and partner with SEBI- r e g i s t e r ed AIF s (i. e . Venture Funds and Angel Funds), which will be professionally managed and desirous of investing in these sectors. It is intended that the AcE Fund plugs the gap of the “Valley of Death “encountered by the Biotech startups during their product development cycle and growth phase.
AcE Fund s h a l l enable creation of an ecosystem for providing risk capital to young enterprises to undertake research and development in high priority technology areas. It will, in the process, enrich the intellectual p r o p e r t y i n the country and encourage m o r e entrepreneurs to work towards product and technology development of high quality at affordable economies in sustainable manner. AcE Fund is being promoted by DBT through BIRAC, under the aegis of Make in India initiative.
BIRAC AcE Fund Committee & its Role
AcE Fund Implementation Tracery
Eligibility Criteria
Selection of AcE Fund Partner