It is no secret that small companies are the hub of innovation. As a developing economy, how do you make the most of this phenomenon? Just take a leaf out of the Indian government's book. The Government of India has been set up a not-for-profit company called Biotechnology Industry Research Assistance Council (BIRAC), whose policy is to take discovery forward and encourage product development by local biotechs.
BIRAC provides a number of funding opportunities to biotechnological SMEs in the country. An example is the Biotechnology Ignition Grant (BIG), which is offered to scientist entrepreneurs from research institutes, academic private sector and start-ups who have exciting ideas that are still in the early/planning stages. The opportunities provided by BIRAC are designed to promote commercialization of research discoveries by providing the boost needed to move from a developing stage into marketable product or intellectual property (IP), thus closing the gap between discovery and invention.
Are you hoping to gain funding for your research or are planning to invest in Asian biotechs? Expand your network by attending the BioPharma Asia Convention 2013 in Singapore coming up in March next year. Bonus: Gain expert's advice on investments and drug discovery by attending our specified conference tracks: Drug Discovery World Asia and Pharma Partnering & Investment World Asia.