Bengaluru has emerged as the biotech startup capital of India – it’s home to 190 ventures out of the 1,022 set up in the past five years, according to a study by the Association of Biotechnology Led Enterprises (ABLE).
The National Capital Region (NCR) comes second with 164, followed by Mumbai and Hyderabad with 163 and 160, respectively. The study finds that $2.6 billion of private equity investments went into these companies, with $851 million coming in 2015 – the highest in a year so far. The segment also received government grants and funds from HNIs.
“This is good news and we are aiming to double this number with the ABLE Startups 2020 initiative to take the count to 2020 companies by the year 2020 and $5 billion of investments,” ABLE President P M Murali said.
The bio-pharma sector continues to dominate the industry, accounting for 57% share of the companies formed, followed by bioresearch (16%), bio-agri (10%), and bio-industrial (9%). Of the total, about 40% of the companies were involved in manufacture of products and ingredients, and 16% were into research and experimental development.
The study observed that 3,000 new entrepreneurs emerged between 2012 and 2016 in the biotech sector and at least a third of them were women.
It added that the government’s start-up policy, funds allocated for the sector, and presence of bio-incubators such as C-Camp and Bangalore Bioinnovation Centre were helping the sector to grow. Of the 1,022 new startups, 104 were formed in 2016, 367 during 2014 and 2015. Another 551 companies were established between 2012 and 2014.
Source: Times of India
