Union Science and Technology Minister Harsh Vardhan will inaugurate the 5th foundation day function of the Biotechnology Industry Research Assistance Council(BIRAC) in New Delhi today. More than 300 Scientists, Entrepreneurs, Industry Experts, and Policy Makers including a large number of stakeholders both national and international wil take part in the event. The discussion will focus on the impact the Biotech Ecosystem is making on the Indian economy and the opportunities which exist for the Indian Biotech Sector as a global player.
Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Section 8, Schedule B, Public Sector Enterprise, set up by Department of Biotechnology (DBT), Government of India as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs.
BIRAC is a new industry-academia interface and implements its mandate through a wide range of impact initiatives, be it providing access to risk capital through targeted funding, technology transfer, IP management and handholding schemes that help bring innovation excellence to the biotech firms and make them globally competitive.
In its three years of existence, BIRAC in its foundation day has initiated several schemes, networks and platforms that help to bridge the existing gaps in the industry-academia Innovation research and facilitate novel, high quality affordable products development through cutting edge technologies. BIRAC has initiated partnerships with several national and global partners to collaborate and deliver the salient features of its mandate.