KARNATAKA GOVERNMENT GRANTS 10.7CR TO STARTUPS IN THE BIOTECH SECTOR TO BOLSTER INNOVATION

Idea2PoC_09.05.2017.2

KARNATAKA GOVERNMENT GRANTS 10.7CR TO STARTUPS IN THE BIOTECH SECTOR TO BOLSTER INNOVATION

• 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

Bengaluru. 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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