Entrepreneurship Industry News

Karnataka Government Funds 26 Biotech Startups

In 2017, the Karnataka government has supported a slew of initiatives to boost the state’s startup ecosystem. Recently, the state announced a funding of $1.65 Mn (INR 10.7 Cr) to 26 selected startups in the biotechnology sector. Each winner has been awarded with a cheque of $77.2K (INR 50 Lakhs).

The grant has been given under the Idea2PoC (proof of concept) programme – an initiative organised by the Karnataka Startup Cell, Department of IT and is implemented by the Bangalore Bioinnovation Centre (BBC), a Section 8 company set up by KBITS. Idea2POC aims to nurture and promote startups in the field of biotechnology. As part of this programme, a fund is provided in the form of Grant-in-aid up to $77.2K. Considering the need for fund throughout the life cycle of a business plan, funding is released in tranches.

Priyank Kharge, Minister of IT, BT & Tourism, Government of Karnataka said: “Idea2POC offers entrepreneurs a holistic support system to explore, develop and launch their best ideas. The scheme is designed to identify, mentor and fund enterprising biotech startups in Karnataka who can create a deep social impact on the lives of people of Karnataka.”

The Department of IT and BT of Government of Karnataka will support these startups to develop ideas, technologies and products, as per an official statement released by the government. “Our focus is to create a strong startup ecosystem with ideation at the bottom of the pyramid,” added Gaurav Gupta, Principal Secretary, Department of IT, BT.

Here Are The Selected Startups
Bendflex: Bendflex Research & Development Pvt. Ltd aims to develop mechanical biomarkers using compliant micro-grippers for application in in-vitro fertilisation. It received INR 49 Lakhs in the first tranche.

OmiX Labs: OmiX Research and Diagnostics Laboratories Pvt. Ltd has developed a novel tool for the detection and surveillance of antimicrobial resistance among urinary tract infections. It received INR 49 Lakhs.

Aprus Biomedical Innovations: The company has developed an advanced wound care device. This combines a novel thin film hydro-colloidal gel technology with al macromolecule delivery using detonation nano-diamonds for treating recalcitrant diabetic ulcers. It received INR 49 Lakh.

Nesa Medtech: Yet to launch, the startup is working on an affordable and minimally invasive therapeutic procedure to treat symptomatic uterine fibroids in reproductive woman. It received INR 49 Lakhs

Pentavalent Bio Sciences Pvt. Ltd: It offers a precise, rapid and ultrasensitive DNA cassette- based tool for antibiotic profiling of mycobacterium tuberculosis and treatment decisions for tuberculosis patients. It received INR 49 Lakhs in the first tranche.

Lumisoft Technologies Pvt. Ltd: It offers a portable digital slit lamp which helps in diagnosing 70 per cent of the conditions causing blindness. It got INR 49 Lakhs in grant.

df3d: df3d is a design factory for 3d printing which offers cloud-based platforms for designs and software. It enable clients to start an online 3d printing business by providing software and design platforms to enable business. It also provides an ecommerce marketplace, cloud-based plugins and design back-end. It received INR 49 Lakhs in the grant.

Hanugen Therapeutics Pvt. Ltd: – It deals in the design, synthesis, purification, and validation of anti-sense oligonucleotides for therapeutic applications. It received INR 49 Lakhs.

Terra Blue Exploration Technologies Pvt. Ltd: – The startup has developed a product TJay, which is an innovative solution for the prediction and management of epilepsy. It received INR 49 Lakhs.

Shanthanu Chakravarthy: – Chakravarthy received INR 49 Lakhs for the creation of a virtual reality- based endoscopy simulator.

Yostra Labs Pvt. Ltd.: It is a healthcare technology firm pioneering smart innovations to make healthcare more effective, affordable, and sustainable for the cost-sensitive and developing market. One of its major projects include Sparsh – a handheld device that can perform three quantified screening tests – tactile threshold, vibration perception threshold, and thermal perception threshold test, which help in the early diagnosis of Diabetic Peripheral Neuropathy (DPN). It received INR 49 Lakhs as part of the grant.

Next Big Innovation Labs Pvt. Ltd: The startup received INR 49 Lakhs for the development of India’s first 3D Bio-Printer and its medical applications.

Aindra Systems: It received INR 49 Lakhs for creating an automated and affordable ‘Point-of-sample collection’ screening tool for cervical cancer.

QtLomics:- The company deals with the development of an easy-to-use DNA barcoding detection kit using high resolution melting curve analysis (Bar-HRM) to identify adulterants in common spices. It received INR 47.094 Lakhs.

Dr. Nagashetappa Biradar: He has created a software for the automatic assessment of Valvular Regurgitation. He got INR 46.5 Lakhs under the scheme.

Viravecs Labs: The startup received INR 39.5 Lakhs for the development of novel nano particle- based formulations for in vivo delivery of genome editing tools for therapeutic interventions of genetic disorders.

Bioinovatix Health Care India Pvt. Ltd: A yet-to-launch startup, it is working on the development of Chikngunya virus-like particles using yeast expression platform. It received a funding of INR 35 Lakhs.

E2e Biotech Pvt. Ltd: E2E Biotech is a technology provider in multidisciplinary areas of biotechology. Currently, its focus is on developing industrial flue gas carbon dioxide mitigation and wastewater treatment using algal platforms. It is working on intensive production and purification of high- value pigments through novel photo-bioreactors and design engineering. It received INR 30 Lakhs in the first tranche.

Biomoneta Research Pvt. Ltd: It is working on the electro-dynamic removal of pathogenic bacteria from healthcare environments. It received INR 30 Lakhs.

Genespy Research Services: The company is known for the development of vaccine strategy against the leukotoxin of sStaphylococcus aureus and the design of a farmer- friendly device for monitoring mastitis. It got INR 30 Lakhs in the first tranche.

Janitri Innovations: The startup is developing a sustainable healthcare technology to improve maternal and child healthcare. One of its solutions include a low-cost portable uterine contraction monitoring device. It received INR 25 Lakhs under the scheme.

Jayachandra S. Yaradoddi: Yaradoddi received INR 25 Lakhs for the economical production of an eco-friendly, bioplastic material for the packaging segment.

G. R. Manjunath: Manjunath received INR 25 Lakhs for making a Micro Bubble-based STP (Sewage Treatment Plant).

Krimmi Biotech LLP – It received INR 25 Lakhs for the development of a Meliorated Diet Formulation for rearing commercially important worms such as Bombyx mori (Silkworm) and Galleria mellonella (Greater Wax Moth) and subsequent utilisation of their discarded pupa for the production of novel bio-pesticides.

Mallipathra Nutraceuticals Pvt Ltd: The company has developed a novel and cost-effective, amino acid, chelate-based foliar spray for plants comprising effluents from the silk reeling industry. It got INR 20 Lakhs as part of the first tranche.

Osteo3D: It is a cloud-based, pre-surgical, planning platform that leverages 3D printing technology for the creation of patient-specific models and surgical guides.

The Government of Karnataka launched its Startup Policy in November 2015 with a vision to nurture technology-based startups and product-based firms with the support of industry and investors. Furthermore, this initiative aimed to discover and encourage innovators with early-stage funds and help in validating proof of concept as well as assistance in certification, pilot scale manufacturing, and relevant activities.

In July 2016, the Government of Karnataka, announced a set of schemes with an aim to bolster the startup ecosystem in the state, which included a $60 Mn fund, the launch of a startup cell in Karnataka Biotechnology and Information Technology Services (KBITS), and more. In September 2016, the Karnataka startup cell funded eight startups with $300K (INR 2 Cr),that have built unique tech solutions for the tourism industry in India.

In March 2017, Priyank Kharge announced a fund of $1.4 Mn (INR 10 Cr) for women entrepreneurs of the state. Also, earlier this month, Karnataka’s agriculture department set aside about $1.5 Mn (INR 10 Cr) fund to be administered by the information technology and biotechnology (ITBT) department.

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