KIIT-TBI Ecosystem with the support of

BIOTECHNOLOGY INDUSTRY RESEARCH ASSISTANCE COUNCIL (BIRAC)

Launching Entrepreneurs for Affordable Products Fund (LEAP FUND)

Equity-based Investment up to INR 50 Lakhs

ABOUT: BIRAC LEAP FUND

KIIT-TBI has partnered with BIRAC to implement the Launching Entrepreneurs for Affordable Products (LEAP) Fund, to enable promising and innovative startups in the biotechnology and life sciences sectors to pilot/commercialize their products/technologies. The scheme is positioned to act as a catalyst in bringing technologies/products forward piloting/commercialization and reducing their gestation period to commercialization.

Eligibility: BIRAC LEAP Fund

Indian startups, registered under the Companies Act of 2013, must have a minimum of 51% shareholders who are Indian citizens (excluding OCI or PIO).
The venture should be in its early stage, having operated for 2-7 years since inception, and should boast a highly capable team.
The focus of the venture should be on developing solutions within the Biotechnology/Life Science sector.
The technology being developed should be at Technology Readiness Level (TRL) 7 or higher.
Previous rounds of funding (grants/investments) should have been secured by the company.
The venture must have a clearly defined strategy for scaling up and entering the market, with anticipated positive revenue within the next 24 months post-funding.
Preference will be given to ventures that have already entered the revenue generation stage.

Financial assistance for

Advancing innovations to larger scales.
Pilot scale production
Making the product ready for market launch and commercialization
Conducting market research and receiving professional consultancy.
Building enterprises, including developing market strategies, business plans, and supply chains.

Funding: BIRAC LEAP Fund

Equity-based investment up to INR 50 Lakhs

Impact: BIRAC LEAP Fund

Financial assistance for

Advancing innovations to larger scales.
Pilot scale production
Making the product ready for market launch and then commercialization
Conducting market research and receiving professional consultancy.
Building enterprises, including developing market strategies, business plans, and supply chains.

Screening Criteria

The start-up should be working towards innovative technology/technologies and should be product-oriented (not services oriented) and minimum TRL7
The technology should be novel & there should be potential for the generation of IP.
The technology should fulfill an unmet need and have an impact.
The start-ups should have a competent team in both technical & business aspects.
The technology should have a sound commercialization strategy and road map to the market.
The start-ups should have a clear understanding of the end-user/customer and market size
The start-up should have a sound business plan and company vision

Funding: BIRAC LEAP Fund

Equity-based investment up to INR 50 Lakhs

BIRAC LEAP Fund: Grantees

Investor Pool

Coordinators

Dr. Bhaskar das

Mr. Ray Saisoubhagya

Location

KIIT-Technology Business Incubator

Campus 11, KIIT-DU, Bhubaneswar, Odisha, IN 751024