Union Government launches BIRAC AcE Fund to accelerate growth of entrepreneurs in Biotechnology

Union Government on 19 March 2015 launched Biotechnology Industry Research Assistance Council (BIRAC) AcE Fund to accelerate growth of entrepreneurs in Biotechnology.
It was announced by Minister of State (MoS) for Science and Technology (S&T) and Earth Sciences Y.S. Chowdary on the occasion of the third foundation day of BIRAC in New Delhi.
The BIRAC AcE Fund aims to address the pressing needs of accelerating the growth of entrepreneurs, in the field of Biotechnology.
This equity fund will be operated by BIRAC a Public Sector Undertaking (PSU) under the aegis Department of Biotechnology (DBT) of Union Ministry of Science and Technology.
Apart from launching the fund, MoS for S&T and Earth Sciences also inaugurated a Two day Panel discussions focused at making biotechnology as one of the drivers of the ‘Make in India’ Programme.

About Biotechnology Industry Research Assistance Council (BIRAC)

• BIRAC operates as a PSU under the aegis of the Department of Biotechnology (DBT), Union Ministry of Science & Technology.
• Established: 2012.
• Purpose: It is mandated to foster and promote innovation research in biotech industries specially start-ups and SMEs.

The theme for this year’s foundation day of BIRAC was “Accelerating Innovations: India the Next Biotech Global Hub”

Month: Current Affairs - March, 2015