BioAngels is an inclusive platform that attracts early-stage investors from India and abroad from a variety of angel investor groups to fund and educate high-quality startups, both with money and with mentorship backed by critical sectoral expertise.
The Biotechnology Aid Council (BIRAC) has partnered with the Indian Network of Angels (IAN) to launch a network of angel investors, BioAngels, the nation’s first sector-focused group of angel investors to boost startups in the biotechnology sector – East sector. Subdomains include Medtech, Healthtech, Pharma, Cleantech and Agritech.
BioAngels is an inclusive platform that attracts early-stage investors from India and abroad from a variety of angel investor groups to fund and educate high-quality startups with money and mentoring backed by critical industry expertise.
BIRAC’s partnership with IAN aims to fill a critical gap in Angel’s cash to prepare for venture capital investment by unlocking high-quality business mentoring and industry networks for startups.
Dr Alka Sharma, Senior Advisor to DBT & MD, BIRAC, said: “The revised national biotechnology strategy is a key factor in the bioeconomy driven by knowledge innovation. This unique association of BIRAC and the Indian Angel Network is the first of its kind to finance a biotechnology-focused funding network that would bring biotech startups closer to angel investors. The participation of private investments is important for the growth of the startup ecosystem. ”
Saurab Srivastova, founder, IAN and co-founder and former chairman of NASSCOM, said: “We recognize the importance of this launch in a few years as it bridges the gap in the investment ecosystem for biotech startups. The IT industry, which was just $ 52 million when I co-founded NASSCOM 30 odd years ago, has evolved into a $ 250 billion industry and was considered India’s greatest success. But the field we’re talking about is much bigger than IT and even more important. While the IT sector is focused on overseas customers, here the actual impact will be transformative on the lives of Indians. And the interest of investors is already palpable: we in the IAN Fund have invested 25 percent of our building in this sector. “
Dr Manish Carpet, Head of Strategic Partnership and Entrepreneurship Development at BIRAC, said: “BIRAC is committed to encouraging private investment through high-quality mentoring for technology startups. This partnership with a professionally managed group of angels Indian Angel Network uses its reach, framework and management. This public-private partnership has the potential to stimulate the growth of startups, making them ready to invest in venture capital, thereby attracting global investors and increasing India as a global innovation hub. ”