BIRAC-Launching Entrepreneurial Driven Affordable Products Fund Investment (BIRAC- LEAP Fund)

Apply at: http://bit.ly/BIRAC-LEAP-FUND


BIRAC LEAP (Launching Entrepreneurial Driven Affordable Products) Fund Investment primarily to provide capital assistance to startups with innovations and technologies. This fund would enable start-ups to pilot/commercialize their products/technologies. Thus the proposed funding support is positioned to act as a catalyst in bringing technologies/products forward piloting/commercialization and reducing their gestation period to commercialization.

 KIIT TBI has partnered with BIRAC to implement the Launching Entrepreneurial Driven Affordable Products (LEAP Fund) with the aim of providing early stage and bridge funding to innovative technology driven life science start-ups.

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The basic idea of LEAP Fund is providing capital assistance to start-ups with new and meritorious ideas, innovations and technologies. This would enable some of these start-ups to graduate to a level where they will be able to raise investments from angel/Venture capitalist or they will reach a position to seek loans from commercial banks /financial institutions. Thus the proposed LEAP support is positioned to act as a bridge between promoters’ investment and Venture/Angel investment.

Investment

The LEAP fund will provide funding support of up to 1 cr INR per startup based on Equity or Equity-linked instruments

Eligibility Criteria

  • The venture must be early-stage (2-7 years since inception) with a high caliber team
  • The venture must be working towards solutions for the Biotechnology/Life Science sector
  • The company must have raised previous rounds of the fund (Grant/ Investment).
  • A well-defined POC must have been achieved (as evaluated by the Review Committee).
  • The venture must have a well-defined upscale and go-to-market strategy with positive revenue inflow within the next 24 months of funding.
  • The idea should have a huge addressable market
  • Investment required <1 Cr  and  willing to share equity with the incubator
  • Indian Start-ups (registered under Companies Act, 2013), having at least 51% shareholders as Indian Citizens [does not include OCI or PIO] as the mandatory requirement.

Contact Us

For any further information please contact
[email protected]
91-9556716477