Guwahati: As the biotechnology business takes off in the Northeast region, an IIT Guwahati-based incubator, BioNEST, has organised the BRICS pre-consultation meet on February 7. It is expected to open a window of opportunity for support to deep-tech start-ups in healthcare, agri-tech and clean energy.
In this exclusive conversation with Business North East (BNE), BioNEST CEO Swapnil Sinha spoke of the incubator's journey, the influence of upcoming global events like the BRICS meet and the role of AI in the biotech industry.
BNE: How did BioNEST originate, and how has it evolved?
Swapnil Sinha: In 2021, IIT Guwahati BioNEST was established to address the challenges faced by deep-tech innovation start-ups in the northeastern region. The company faced limited infrastructure and investor connections, leading to the need for a fully equipped bio-incubator. Supported by government funding, IIT Guwahati BioNEST was formed in 2022 and now has 63 incubatees.
We offer five funding schemes for start-ups:
The Northeast Council Ignite Grant for start-ups in healthcare.
Agri-tech and clean energy.
Start-Up Seed Fund provides grants of up to Rs10 lakhs and investment opportunities.
Parivartan Grant - a CSR grant from HDFC Bank for renewable energy.
NIDHI Seed Fund, supported by the Department of Science and Technology and SPARSH for student innovators.
BNE: Can you elaborate on the upcoming BRICS event?
Swapnil Sinha: Our main objective is to support deep-tech innovations. I have realised that while there is immense potential, accessibility remains a challenge. Therefore, we frequently organised large-scale events at a global level to showcase northeastern start-ups to an international audience.
That is precisely the purpose of this BRICS event. As we all know, BRICS is an organisation of five countries ((Brazil, Russia, India, China and South Africa). They are currently hosting satellite events across these nations, termed as pre-consultation meetings.
BRICS will handpick specific innovations, innovators, and entrepreneurs and elevate them to a higher level. These pre-consultation meetings will culminate in a final event in Delhi during March. Start-ups selected from India will showcase innovations to BRICS nations. This will provide avenues for expansion and networking with investors, foreign delegates and policymakers.
BNE: How many start-ups were selected, and what were the selection criteria?
Swapnil Sinha: The selection criteria were not overly stringent to ensure fair opportunities for everyone. We are expecting around 500 students to attend the event, with approximately 80 start-ups from across the northeast participating. The event ensures fair representation of the entire region.
BNE: What are the eligibility criteria for incubation at your centre?
Swapnil Sinha: Anyone with a strong tech-driven idea is always welcome to my office. There is an official incubation process. If someone has a registered company and wishes to incubate with us, they can apply through our website. The application form requires basic details about the company, the product they are developing, and their expectations from the incubation centre.
What I look for is conviction and passion. We offer two types of incubation: Physical incubation, where we provide lab or office space as per the start-up requirements, and Virtual incubation, where we offer mentorship, patent filing, product development support, and copyright assistance.
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BNE: What is the current state of biotechnology and research in the region?
Swapnil Sinha: The start-up culture is thriving across India, and I have observed significant growth in the northeastern region. When I entered the ecosystem in 2018, there was little awareness about how to establish a start-up, secure funding, and navigate the entrepreneurial journey, but now there is a remarkable transformation.
With the launch of the Start-Up India initiative by Prime Minister Modi, various schemes have been introduced. Every day, we see more start-ups emerging, particularly in the biotech sector. Now, with the government focusing on the implementation of the BioE3 policy, start-ups in this domain will receive an additional boost. Even in the upcoming Advantage Assam 2.0 event, a separate session will be dedicated to BioE3 and biomanufacturing.
BNE: With increasing emphasis on AI and data technology, how will the biotech industry benefit?
Swapnil Sinha: These technologies complement each other. AI plays a significant role in healthcare, agriculture, and renewable energy.
For instance, in India, pathologists are often overburdened. AI can revolutionise the field by reducing the time required to analyse slides. One of our start-ups is working on generating key data points to assist pathologists in decision-making. AI helps streamline and simplify large datasets, leading to faster, more efficient, and more precise outcomes.
The impact of AI on healthcare will be profound.
FIRST Business Portal addressing the potential of business capability of North East Region.
