Biotech Start-up Expo 2022: BIRAC

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Biotech Start-up Expo- Relevance for UPSC Exam

Biotech Start-up Expo 2022: Biotech Start-up Expo is organized to promote biotechnology start-up ecosystem in India. Biotech Start-up Expo 2022 would be important for UPSC Prelims and Mains exam as it comes under science and technology part of the GS Paper 3.

Biotech Start-up Expo in News

The Prime Minister Shri Narendra Modi will inaugurate the Biotech Start-up Expo – 2022 at Pragati Maidan, New Delhi on 9th June at 10:30 AM.

Key Facts about Biotech Start-up Expo

About: The Biotech Startup Expo – 2022 is a two day event being held on 9th and 10th June. It is being held to mark completion of ten years of setting up of BIRAC.
Organizing Authority: Biotech Startup Expo is being organised by the Department of Biotechnology and Biotechnology Industry Research Assistance Council (BIRAC).
Biotech Start-up Expo 2022 Theme: The theme of the Expo is ‘Biotech Startup Innovations: Towards AatmaNirbhar Bharat’.
Significance:
- The Expo will act as a platform to connect entrepreneurs, investors, industry leaders, scientists, researchers, bio-incubators, manufacturers, regulators, government officials, etc.
- About 300 stalls will be set up at the Expo, which will showcase the applications of biotechnology in various fields such as healthcare, genomics, biopharma, agriculture, industrial biotechnology, waste-to-value, clean energy, among others.

State Food Safety Index 2022

Biotechnology Industry Research Assistance Council (BIRAC)

About: Biotechnology Industry Research Assistance Council (BIRAC) is a not-for-profit Section 8, Schedule B, Public Sector Enterprise of the Union Government.
Parent Department: BIRAC was set up by Department of Biotechnology (DBT).
Mandate: BIRAC acts as an Interface Agency to strengthen and empower the emerging Biotech enterprise to undertake strategic research and innovation, addressing nationally relevant product development needs.
Vision: To Stimulate, foster and enhance the strategic research and innovation capabilities of the Indian biotech industry, particularly start-ups and SME’s, for creation of affordable products addressing the needs of the largest section of society”
Key Strategies
- Foster innovation and entrepreneurship
- Promote affordable innovation in key social sectors
- Empowerment of start-ups & small and medium enterprises
- Contribute through partners for capability enhancement and diffusion of innovation
- Enable commercialization of discovery
- Ensure global competitiveness of Indian enterprises
Key Functions of BIRAC: BIRAC is an 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.