Who Made the Cut? Govt Selects First Biotech Startups for RDI Fund

BIRAC has selected seven to eight biotech startups for funding under the government's ₹1 trillion RDI Fund.

The first cohort includes Fermbox Bio, Revelations Biotech, Sea6 Energy, 4baseCare and Telluris Biotech.

An official announcement is expected in the coming weeks, with each startup likely to receive funding of around ₹25 crore on average.

The government's ₹1 trillion Research, Development and Innovation (RDI) Fund is set to support its first batch of biotechnology startups, with the Biotechnology Industry Research Assistance Council (BIRAC) selecting seven to eight companies for funding, according to a Business Standard report.

The first cohort includes Fermbox Bio, Revelations Biotech, 4baseCare, Sea6 Energy and Telluris Biotech. The report said each startup is expected to receive funding of around ₹25 crore on average, while an official announcement is likely in the coming weeks.

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BIRAC received nearly 200 applications after inviting proposals in February. Around 50 proposals have been evaluated so far, with nearly eight startups making it to the first round of funding.

Funding to Support Biotech Innovation

BIRAC is one of two second-level fund managers under the RDI Fund, alongside the Technology Development Board (TDB). The fund was launched last year to support commercially viable research in strategic sectors such as biotechnology, artificial intelligence (AI), quantum computing, robotics, space and energy transition.

BIRAC is set to receive an initial allocation of ₹2,000 crore from the Special Purpose Fund under the Anusandhan National Research Foundation to finance eligible biotechnology projects.