IAN-BIRAC Launches BioAngels
In a bid to unlock the immense potential of the Indian biotech industry, BIRAC-Biotechnology Industry Research Assistance Council, in partnership with Indian Angel Network, has launched “BioAngels” at the Global Bio India 2019. This platform aims to be the single largest national platform for biotech angel investing.
The announcement -IAN-BIRAC Launches BioAngels- comes at a crucial juncture for the Indian biotech industry, which is being driven by a level of dynamism that only a few other sectors have been able to achieve globally.
Over the last decade (BIRAC), a not-for-profit Public Sector Enterprise, has led the biotech industry to cross multiple milestones. Worth $50 billion in 2018, the Indian bio-economy currently comprises over 600 + core biotech companies as well as 2700+ startups. This accounts for a 3 percent share in the global biotechnology industry.
IAN-BIRAC Launches BioAngels- Advantage of BioAngels
By combining the power of regulatory vision and angel investment, such initiatives aim to strengthen and assist BIRAC in escalating the growth of the Indian bioeconomy, enabling it to surpass $100 billion by 2025. The first-of-its-kind focused funding program will accomplish this by facilitating budding innovators with access to capital, mentorship, and growth opportunities.
Digvijay Singh, COO, IAN
, said that he was delighted to collaborate with BIRAC to set up India’s first BioAngels Network.Dr. Manish Diwan, Head- Strategic Partnership & Entrepreneurship Development, BIRAC, said that Indian Biotech start-ups are focused on creating a transformational impact in India. They hold the key to unlocking a healthier, tech-driven future for India, along with the unparalleled potential of digital healthcare.
IAN-BIRAC Launches BioAngels- What Is IAN?
Indian Angel Network (IAN) is India’s first and world’s largest business angel network with close to 500 members across the globe, comprising successful entrepreneurs and dynamic CEOs. With investors from 11 countries, IAN’s presence spans 7 locations, which includes cities in India and the UK.
IAN-BIRAC Launches BioAngels is expected to give a significant boost to the Indian Biotech Industry.
