news bytes
Karnataka govt
disburses Rs 10.7 crore
grant money to 26
biotech startups
The Government of
Karnataka has released Rs
10.7 crore in grants to 26
biotech companies. These
26 biotechs were selected
for Grant-in-aid through
the state government’s
Idea2PoC (Idea to Proof of
Concept) program. This is
a first of its kind program
in India and has been
initiated by the Karnataka
Start-up Cell, Department
of IT, BT, and S&T. Mr
Priyank Kharge, Minister
for IT, BT & Tourism,
presented the cheques to
the 26 winners at Vikasa
Soudha in Bengaluru on
May 9, 2017.
The Idea2PoC initiative is
part of India’s first multi-
sector Start-up Policy
launched by Karnataka in
November of 2015. It is
an ‘Ignition Fund’ given
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BioVoiceNews | June 2017
in the form of Grant-in-
aid but limited to a one
time grant of up to Rs
50 lakh. Funding shall
be released in tranches
based on the life cycle of
the business plan. The
call for applications under
Idea2PoC was organized
by the Karnataka Start-
up Cell under KBITS
and was implemented by
Bangalore Bio-innovation
Center (BBC), a Section 8
company set up by KBITS
to nurture and promote
start-ups in the field of
biotechnology.
Two biotech researchers
among awardees at the
National Technology Day
event
The President, Pranab
Mukherjee, presented
the national awards for
excellence in technology
to mark the 19th National
Technology Day on May
11, 2017.
The award winners
included Prof Phani
Kumar Pullela of CMR
Institute of Technology,
Bengaluru and Dr
Soma Guhathakurta,
Adjunct Professor in
the Department of
Engineering Design at
the Indian Institute of
Technology, Chennai, and
Director (Bioengineering),
Messrs Synkromax
Biotech of Chennai.
The two got their awards
for being the best in
biotechnology products
and process development
and commercialization.
Prof Pullela got it for his
development of a new
cost effective method for
molecular diagnosis of
infectious diseases and Dr
Guhathurta for developing
an indigenous pericardial
patch scaffold, which is
a life saving implant for
critical cardiovascular
patients.
Affordable ‘Zolahart’, an
anti-hypertensive drug
priced at Rs 7.50
Mankind Pharma
has launched an anti-