Tag Archive for: Women-led biotech startup funding

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How to Apply for the Seed Fund Incubator at Golden Jubilee Biotech Park for Women Society

Golden Jubilee Biotech Park

Introduction

Golden Jubilee Biotech Park for Women Society (GJBPWS), located in Chennai, is a pioneering initiative dedicated to empowering women entrepreneurs in the biotechnology sector. Through its partnership with the Biotechnology Industry Research Assistance Council (BIRAC), GJBPWS offers the Sustainable Entrepreneurship and Enterprise Development (SEED) Fund to support early-stage startups led by women. This fund aims to bridge the critical gap between initial concept validation and market readiness, enabling startups to attract angel or venture capital investments.

1. About Golden Jubilee Biotech Park for Women Society

Established with the vision of encouraging and empowering women entrepreneurs, GJBPWS has been instrumental in fostering innovation and entrepreneurship in the life sciences domain. The park provides a conducive environment for startups, offering infrastructure, mentorship, and access to funding opportunities. As a BIRAC SEED Fund partner, GJBPWS plays a crucial role in nurturing biotech startups led by women, helping them scale and commercialize their innovations.

2. Understanding the SEED Fund

The SEED Fund is an equity-based funding scheme designed to support post-proof-of-concept (PoC) startups with innovative ideas and technologies. The fund provides capital assistance to startups, enabling them to cover the initial stages of development and become investment-ready. Implemented through selected BioNEST incubators like GJBPWS, the SEED Fund aims to catalyze the growth of biotech startups and facilitate their transition to commercial viability.

3. Eligibility Criteria

To be considered for the SEED Fund at GJBPWS, startups must meet the following criteria:

  • Women-Led Ownership: At least 51% of the company’s shareholding must be held by women entrepreneurs.

  • Incorporation Status: The startup must be a registered company.

  • Proof of Concept: The startup should have a validated proof of concept ready.

  • Sector Focus: Startups should operate in the fields of life sciences, med-tech, digital tech, or data sciences.

  • Innovation: The startup must present a unique value proposition or innovative solution addressing a significant market need.

4. Application Process

The application process for the SEED Fund at GJBPWS involves the following steps:

a. Obtain the Application Form

Startups can download the application form from the official GJBPWS website: Seed Fund Application Form.

b. Complete the Application Form

The application form requires detailed information, including:

  • Applicant Information: Personal details of the woman entrepreneur.

  • Company Information: Details about the registered company, including sector, activities, and infrastructure requirements.

  • Project Information: Description of the proposed idea or innovation, including technology readiness level and potential market applications.

  • Financial Details: Business plan, cost of the project, and financial statements.

  • Other Related Information: Team members, mentors, patents, awards, and other relevant details.

c. Submit the Application

Once the form is completed, submit it along with the necessary documents to:

Email: service@biotechpark.co.in

Alternatively, applications can be sent to:

Address:

The Chairman

Golden Jubilee Biotech Park for Women Society

Inside SIPCOT IT Park

Navallur, Old Mahabalipuram Road

Kanchipuram District – 603 103

Phone: +91-9840098371 (Office)

Mobile: +91-7305621230 (Bio-Incubation Centre)

5. Evaluation and Selection

Upon receiving the applications, GJBPWS conducts a thorough evaluation process, which includes:

  • Screening: Initial review of applications to ensure they meet the eligibility criteria.

  • Due Diligence: Assessment of the startup’s business plan, technology, market potential, and financial viability.

  • Pitch Presentation: Shortlisted startups may be invited to present their business ideas to a panel of experts.

  • Final Selection: Based on the evaluation, selected startups are offered the SEED Fund.

6. Benefits of the SEED Fund

Startups selected for the SEED Fund at GJBPWS receive:

  • Equity-Based Funding: Financial assistance to support the startup’s development and commercialization efforts.

  • Mentorship: Guidance from industry experts and experienced entrepreneurs.

  • Infrastructure Support: Access to state-of-the-art facilities and laboratories.

  • Networking Opportunities: Connections with potential investors, partners, and customers.

  • Training and Workshops: Programs to enhance entrepreneurial skills and business acumen.

7. Success Stories

Several women-led startups have benefited from the SEED Fund at GJBPWS, achieving significant milestones:

  • Bioneem Tec (P) Ltd: Developed innovative solutions in the field of agriculture and received the SEED Fund to scale operations.

  • Kairos Kinetic (OPC) Pvt Ltd: Focused on developing nanotechnology-based products and utilized the SEED Fund for product development and market entry.

  • Bionyme Laboratories Pvt Ltd: Engaged in tissue culture-based banana propagation and leveraged the SEED Fund to enhance research and commercialization efforts.

8. Tips for a Successful Application

To increase the chances of selection, consider the following tips:

  • Clear Value Proposition: Clearly articulate the problem being solved and how your solution is unique and impactful.

  • Demonstrated Innovation: Showcase the novelty of your technology or approach.

  • Market Understanding: Provide insights into the target market, customer needs, and competitive landscape.

  • Strong Team: Highlight the expertise and experience of your team members.

  • Scalability Plan: Outline a clear strategy for scaling your operations and achieving commercial success.

9. Contact Information

For more details or assistance:

  • Website: www.biotechpark.co.in

  • Email: service@biotechpark.co.in

  • Phone: +91-9840098371 (Office)

  • Mobile: +91-7305621230 (Bio-Incubation Centre)

  • Address:

    The Chairman

    Golden Jubilee Biotech Park for Women Society

    Inside SIPCOT IT Park

    Navallur, Old Mahabalipuram Road

    Kanchipuram District – 603 103

Conclusion

The SEED Fund at Golden Jubilee Biotech Park for Women Society offers a valuable opportunity for women entrepreneurs in the biotech sector to transform their innovative ideas into successful ventures. By providing financial assistance, mentorship, and infrastructure support, GJBPWS plays a pivotal role in fostering the growth of women-led startups, contributing to the advancement of the biotechnology industry.