C-CAMP NBEC 2024: Rs 15 crore awarded to 19 startups & Rs 5 lakh to 5 student innovators

New Delhi: The Center for Cellular and Molecular Platforms (C-CAMP) has announced the winners of the 2024 National Bio Entrepreneurship Competition (NBEC) at a ceremony held in Bangalore.

Supported by the Biotechnology Industry Research Assistance Council (BIRAC), the event celebrated 19 innovative startups and 5 student teams for their contributions to the biotech field.

The winning startups collectively garnered Rs 15 Crore in cash prizes and investment prospects, while student innovators received a total of Rs 5 Lakh. In addition, the winners will gain access to mentorship from prominent industry leaders, aimed at advancing their innovative concepts into practical solutions.

This year’s competition attracted a notable 3,300 submissions from all 33 States and Union Territories, with a significant number of entries emerging from Tier 2 and Tier 3 cities, showcasing the untapped potential in India’s smaller cities. The projects awarded spanned a wide range of fields, including advancements in cancer diagnostics and treatments, rapid diagnostic technologies, therapies for chronic diseases, dermatological solutions, AI-based health data analytics, and innovations in agriculture, aquaculture, water management, food, and sustainable technologies.

The judging panel, led by Prashanth Prakash, Chairman of Karnataka’s Startup Vision Group and Partner at Accel Partners, included experts from major partners like WIN Foundation, Novonesis, Anthem Biosciences, Mahyco, Aurigene, L’Oréal Research and Innovation, Social Alpha, Indian Angel Network & Bio Angels, IIMA Ventures, Accel, Molecular Connections, Biocon, Biocon Biologics, Syngene, Synapses, and Biocombinator. Out of 62 pre-finalists, 22 were selected based on criteria such as innovation, scalability, and commercial viability.

Priyank Kharge, Minister for IT/BT and Rural Development and Panchayat Raj, Government of Karnataka, highlighted, “The Government of Karnataka is continuously evolving its schemes and policies to support entrepreneurs, particularly in the challenging field of bio-entrepreneurship. With a longer learning curve and gestation period, bio-entrepreneurs play a crucial role in solving real-life problems. Karnataka contributes to nearly one-fifth of the  country’s bioeconomy, and initiatives like NBEC have successfully identified and nurtured our talent pool. CCAMP has been at the heart of Bengaluru’s bio-entrepreneurship ecosystem, supporting and nurturing young entrepreneurs to innovate, incubate, and drive change. The NBEC cohort will not only foster innovative solutions but also contribute to economic growth, create jobs, and elevate India’s presence in the global market.”

Dr. Ekroop Caur, IAS, Secretary of the Department of IT-BT and S&T, Government of Karnataka, expresses, “The fact that 3300 ideas came from 33 states and UTs came for NBEC2024 is inspiring because it shows that the innovation and entrepreneurial culture is developing strongly in India. Karnataka in particular has a thriving biotech startup ecosystem. We had 202 new ventures being registered as startups in biotech alone in the last FY which only underlines the crucial importance of biotech as a sector for human progress and well-being.”

Prashanth Prakash expressed his enthusiasm for the range of innovations presented, attributing the success to C-CAMP, BIRAC, and other supportive organizations. He remarked, “This encourages me to think that standing here five years later, I will hear 10x more improved and honed solutions to our biotech problems.”

Dr Vijay Chandru, Advisor at the Karnataka State Council on S&T and Co-founder of Strand Life Sciences, emphasized, “Karnataka being the IT capital of India is well poised to be the melting pot where IT and BT [biotechnology] converge to solve problems, not only existing but future ones such as biosecurity.”

Dr Taslimarif Saiyed, CEO and Director of C-CAMP, highlighted, “Many similar competitions exist but what makes NBEC stand out is its sector-agnostic approach, openness to partners, sponsors and Venture Capitalists, and to bright ideas irrespective of affiliation and background.”

Moreover, Biocombinator has announced plans to invest up to Rs 4 Crore in four chosen startups, with details to be revealed in the near future.