CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: The Indian Venture and Alternate Capital Association (IVCA), in collaboration with the Biotechnology Industry Research Assistance Council (BIRAC), hosted a pivotal roundtable at Global Bio-India 2024. The roundtable convened 25+ leading biotech experts, policymakers, industry leaders, domestic and global investors to explore emerging trends and investment opportunities in India’s burgeoning biotechnology sector.
The discussion, chaired by Shri Vishwajeet Sahay, Additional Secretary and Financial Advisor, Department of Biotechnology, India & co-chaired by Dr. Manish Diwan, Head – Biofoundry, NCR Biotech Cluster & IVCOL at BIRAC, Mission Director – Make In India Biotech sector, Department of Biotechnology, Government of India, spotlighted the increasing need for growth-stage capital to support biotech startups with longer gestation periods. Investors emphasized that co-investment strategies and mobilizing domestic capital pools are critical to scaling biotech ventures in India.
Commenting on the outcomes of the roundtable, Dr. Manish Diwan, Mission Director of the Make in India for Biotech sector and Head of Biofoundry at BIRAC, said, “Private equity and venture investments in biotech innovations are growing. The IVCA-powered interaction, chaired by FA & AS, DBT and DST, Government of India, Mr. Viswajit Sahay, with national and international PE and VC fund representatives at Global Bio-India 2024, generated useful recommendations for attracting high-risk investments for the sector. DBT/BIRAC’s Biotech Fund of Funds – AcE, which generated impressive 28x private investments, was appreciated. The recent approval of India’s BioE3 policy by the Union Cabinet is very timely and will catalyze the much-needed infrastructure growth and attract investments for bio-innovations and bio-manufacturing. Private and corporate investors are critical partners in supporting this growth momentum for ‘Viksit Bharat’.”