Bharat Biotech’s Co-Founder, TDB to Set up a New Rs 400Cr Start Up Fund

Bharat Biotech's Co-Founder, TDB to Set up a New Rs 400Cr Start Up Fund

Bharat Biotech Co-Founder Dr Krishna Ella, and TDB (Technology Development Board of India)has agreed to support a new startup fund initiative, where Dr Krishna Ella has agreed to give ₹200 Crores & TDB will contribute the matching ₹200 crores to form a ₹400 Crores Corpus Fund which will be used exclusively to support Startups.

Through this fund, Startups will be supported in different fields across India using services of professional agencies at relaxed terms and conditions.

Dr. Jitendra Singh said that this initiative will ensure equal stake with equal partnership and responsibility for the Industry for sustainable StartUps. He said that the vaccine strategy of India symbolises Prime Minister Narendra Modi’s idea of an Atma Nirbhar Bharat.

The Union Minister said that the idea behind initiatives like this is to have a sustainable partnership in the long run and provide a sustainable source of livelihood to India’s youth. Dr. Singh opined that the Government of India, led by Prime Minister Modi, is encouraging industrial outreach by extending all possible support.

Dr. Jitendra Singh said this is not only an agreement of equal stake and partnership but also equal social responsibility. He termed it as a new beginning in India’s vaccine strategy and expressed hope that it will give further impetus to research and development in the country.

Dr Jitendra said that India’s vaccine strategy brings together pharma, industry and academia together in a partnership with an eye on meeting the current as well as possible future challenges, under the leadership of Prime Minister Modi.

Further, an all important agreement between startup Sapigen Biologix Private , Hyderabad helmed by Dr Krishna Ella of Bharat Biotech Ltd and the Technology Development Board (TDB) of the Ministry of Science & Technology for the development & commercialization of two novel vaccines – “Intranasal Covid-19Vaccine and RTS, S Malaria Vaccine”.

Dr Krishna Ella, Founded Startup Sapigen Biologix , TDB MoU to Develop, Produce Novel Malaria Vaccine

TDB-DST supported Sapigen helmed by Dr Krishna Murthy Ella to set up state -of- the -art world- class vaccine manufacturing facility in Bhubaneswar, Odisha. TDB-DST supported Sapigen to commercially produce world’s first malaria vaccine and India’s first intranasal covid-19 vaccine

The Minister noted that today, within only a couple of years of the pandemic, the Indian pharmaceutical industry has been able to develop its own indigenous vaccines. It has also shown the technology absorption capacity to support manufacturing of nearly all the COVID vaccines that have been developed, that too in a cost effective manner, thus emerging as the “pharmacy of the world”. As of March 2021, India exported 5.84 crore doses of COVID vaccines to 70 countries. This has been possible due to availability of low-cost skilled manpower and a well-established manufacturing ecosystem.