Indian government moves to jumpstart domestic biotech sector

23 March 2015

Hyderabad, India-based Bharat Biotech's first novel vaccine, Rotavac, developed completely in the developing world, could be the forerunner to the immense potential that biotechnology holds in India and needs to be tapped.

Taking a major step in this direction, the Indian government has launched an equity fund, Biotechnology Industry Research Assistance Council (BIRAC) AcE Fund, to jumpstart entrepreneurship growth in the field of biotechnology, reports The Pharma Letter’s India correspondent.

The fund is to be operated by BIRAC, a public sector undertaking, under the Ministry of Science and Technology, Department of Biotechnology, Government of India, with incubators and business accelerators as its partners.

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