BIRAC Current Affairs
The Biotechnology Industry Research Assistance Council (BIRAC) celebrated its sixth Foundation Day. The observance of the day was themed around ‘Sustaining Innovation – A Market Driven Pathway’. The event was attended by large number of dignitaries from scientific and industry sectors both from within country and overseas.
Since its inception, BIRAC has supported over 650 projects, more than 500 start-ups and entrepreneurs and 30 incubators across the country. It has resulted in development of over 100 products and technologies and 150 Intellectual property (IP) rights being generated.
It has launched over 10 flagship schemes that are supported by funding from Department of Biotechnology (DBT), and manages 7 collaboratively funded programs with international partners. It tries to galvanize social impact by piloting research and extension services within series of thematic calls and other global definite initiatives to improve public health and beyond.
Biotechnology Industry Research Assistance Council (BIRAC)
BIRAC is not-for-profit Public Sector Enterprise (PSE) set up by DBT, Ministry of Science and Technology to empower emerging biotech industry to undertake strategic research and innovation. It is basically industry academia interface.
It implements its mandate through wide range of impact initiatives like providing access to risk capital through targeted funding, technology transfer, IP management and handholding schemes that help bring innovation excellence to Indian biotech firms and make them globally competitive.
BIRAC has initiated several schemes, networks and platforms to bridge existing gap between industry-academia research and facilitate novel, high quality and cost-effective affordable technologies. It has initiated partnerships with several national and global partners to collaborate and deliver its mandate.
- Foster innovation and entrepreneurship.
- Enable commercialization of discovery.
- Promote affordable innovation in key social sectors.
- Ensure global competitiveness of Indian enterprises.
- Empowerment of start-ups & small and medium enterprises (SMEs).
- Contribute through partners for capability enhancement and diffusion of innovation.
India and Australia have signed a Memorandum of Understanding (MoU) to enhance research and development (R&D) capabilities in biotechnology by launching a joint funding call.
The MoU was signed between India’s BIRAC (Biotechnology Industry Research Assistance Council) and Horticulture Innovation Australia.
- The MoU seeks to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry.
- The focus of the funding call is to undertake horticultural research in order to develop and deploy modern tools of plant biotechnology to improve crop productivity.
- The funding commitment from BIRAC and Horticulture Innovation is up to 6 million Australian dollars over a period of three years.
BIRAC: It a PSU under the Union Ministry of Science and Technology. It seeks to stimulate and enhance the strategic research and innovation capabilities of the Indian biotech industry, particularly start-ups and SMEs, for the creation of affordable products addressing the needs of the largest section of society.
Horticulture Innovation Australia (Hort Innovation): It is a not-for-profit, grower-owned R&D and marketing company for Australia’s horticulture industry. It works collaboratively with industry, Australian government and the nation’s leading research institutions to deliver ground-breaking advancements in areas such as agri-technology, pest management, trade and industry promotion.