Live
- Hailstorm-hit Vistara flight returns to Bhubaneswar airport
- PM Modi-led govt saved people during pandemic: Union Minister Anurag Thakur
- Heat wave grips Telangana, mercury crosses 46 degrees Celsius in few places
- New India believes in giving a dose, not dossiers, to terror masterminds: PM Modi
- Nagarkurnool MLA Kuchukulla Rajesh Reddy should send Malluravi to Parliament for the third time
- Awareness conference on Mayday under the auspices of Legal Service Authority
- Adani Power logs 37 per cent revenue growth in FY24, consolidated PBT more than doubled
- Rohit said 'just show us what you can do', recalls Shivam Dube post T20 WC selection
- Resignations of Lovely, Naseeb and Basoya indicate Congress high command's disconnect with ground reality
- Hamas standing in way of ceasefire, Blinken says during meeting with Israeli PM Netanyahu
Hyderabad: Rs 5.25 crore DST grant for AIC at CCMB
Rs 5.25 crore DST grant for AIC at CCMB
The Atal Incubation Centre at Centre for Cellular & Molecular Biology (AIC-CCMB), here, has been awarded the NIDHI-Seed Support System (NIDHI-SSS) grant of Rs 5.25 crore by the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science and Technology (DST)
Hyderabad: The Atal Incubation Centre at Centre for Cellular & Molecular Biology (AIC-CCMB), here, has been awarded the NIDHI-Seed Support System (NIDHI-SSS) grant of Rs 5.25 crore by the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science and Technology (DST).
AIC-CCMB has successfully supported 40-plus life science start-ups in the last three years, all working in the areas of human and animal health as well as industrial biotechnology. Start-ups at AIC-CCMB played a pivotal role in developing Covid-19 solutions for diagnostic, therapeutics and food supplements.
"Life-sciences is a very capital-intensive field, especially because the development time is longer than any other sector. The time and money required for various validation and regulatory clearances for even bringing a product to the market puts a huge pressure of the entrepreneur. In the past three years of our operation, we have seen many life-sciences start-ups struggling to raise funds just to stay afloat.
The NIDHI-SSS grant will support the 'productisation' efforts of the start-ups and ensure that their leads reach the market. We hope that this grant will also promote interest among the ecosystem to take leads generated by CCMB scientists for translation. ", says Dr N Madhusudhana Rao, Chief Executive Officer, AIC-CCMB.
"It is very important that we set structures for funding the deep tech start-ups such as in life sciences. Their requirements are very different from those in IT. It is a very welcome step that NSTEDB sees the importance of this, and has launched the NIDHI-SSS. At CCMB, we are very hopeful that this will motivate many companies to work with us at AIC-CCMB. This will also help to bridge the much lacking communication between academic researchers and industries", says Dr. Rakesh Mishra, the CCMB director.
"Funding has always been a stumbling block for start-ups during the initial phases. DST through NIDHI seed support initiative is attempting to bridge the gap by providing hassle free financial support. Emerging incubators like AIC-CCMB are now empowered with DST's NIDHI SSS to further harness the true potential of Science, Technology and Innovation driven by new age innovators, entrepreneurs and start-ups," said Dr Anita Gupta, head, NSTEDB.
