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.
BIRAC and IVCA Collaborate at Global Bio-India
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/BIRACs Biotech Fund of Funds – AcE, which generated impressive 28x private investments, was appreciated. The recent approval of Indias 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.”
Key Takeaways from the Roundtable:
Fund of Funds Booklet Launch with IVCA: Shri Vishwajeet Sahay, Additional Secretary and Financial Advisor, DBT, launched the Fund Of Funds (AcE Funds) Booklet, highlighting the successful performance of the initiative since its inception in FY 2017-18 with a corpus of INR 150 crores.
Mentorship and Talent Building: The roundtable underscored the importance of strengthening mentoring programs, with investors and incubators supporting biotech startups. Initiatives like BIRAC’s Entrepreneurship in Residence (EIR) and the DBT’s i3c BRIC-RCB Ph.D. Programme aim to build a highly skilled talent pool in biosciences.
International Collaborations: Participants recommended enhanced global collaborations to bolster the international presence of Indian biotech companies, facilitating better market access.
Data Security Concerns: Investors raised concerns regarding data security and access. In response, BIRAC officials highlighted the establishment of the Indian Biological Data Centre (IBDC), a national repository for life science data, which will provide critical data infrastructure for biotech research in India.
IP and Patent Protection: Strengthening IP support systems, including patent funds and commercialization clarity, was emphasized.
Amit Pandey, VP VC Investments, IVCA said, “We are witnessing a remarkable rise in biotech investments in India, with over 6,000 startups already and another 10,000 expected by 2025.the BioE3 Policy will enable Bharat to realize the full potential of bioeconomic growth through sustainable resource management and inclusivity. IVCA is committed to working hand in hand with BIRAC to foster innovation and growth in the biotech sector. This roundtable offers valuable insights into emerging opportunities and will help shape the future of Indias biotech landscape, ensuring a greener, more prosperous Bharat and we intend to work closely fostering a collaborative Public Private Partnership for growing this industry.”
India’s biotechnology industry, valued at USD 130 billion in FY 2024, is projected to reach USD 300 billion by 2030. The BioE3 policy, recently approved by the Union Cabinet, is set to play a significant role in this expansion by establishing bio-hubs to promote green growth, generate employment, and reinforce India’s global position in biotech innovation and bio-manufacturing.
About IVCA – Indian Venture and Alternate Capital Association
The Indian Venture and Alternate Capital Association (IVCA) is a not-for-profit, apex industry body promoting the alternate capital industry and fostering a vibrant investing ecosystem in India. IVCA is committed to supporting the ecosystem by facilitating advocacy discussions with the Government of India, policymakers, and regulators, resulting in the rise of entrepreneurial activity, innovation, and job creation in India and contributing towards the development of India as a leading fund management hub. IVCA represents 46% of overall AIFs in the country, and its members are the most active domestic and global VCs, PEs, funds for infrastructure, real estate, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners. These funds invest in emerging companies, venture growth, buyout, special situations, distressed assets, and credit and venture debt, among others.
