In a recent survey conducted by BioSpectrum India, a well-known B2B media platform in life science, the BITS Pilani, KK Birla Goa campus established BIRAC BioNEST has ranked 4th in the list of life sciences incubator, making it among the top 5 private incubators in the life sciences category in India.
It has also secured the 7th rank in India among the 40 participating incubators. The bio-incubator in Goa was praised for its quality of incubated startups and funding raised through it.
Professor In-charge, BITS BIRAC BioNEST, Prof Mridula Goel, expressed her happiness and said that this was a glorious moment for the entire team of BITS BIRAC BioNEST. “We are keen to further support startups who are working in deep tech, healthcare and environment with both mentoring and funds.”
“We thank all our ecosystem partners and commit to continue striving on our mission of strengthening the Startup Ecosystem in India,” added Goel.
As the incubator is also under BITS Goa Innovation, Incubation and Entrepreneurship Society (BGIIES), they also announced that they have been also selected for the Startup India Seed Fund Scheme by Department of Policy and Promotion which allows them to provide support to deep tech startups across the country.
About BITS BIRAC BioNEST
What is really interesting about BITS BIRAC incubator is that since its inception in 2019, the incubator has supported more than 25 ideas/startups. The selected startups of BITS BIRAC BioNEST, were also provided with seed funding, advice and mentoring, network connection and other essential support for their business establishment and development.
This bio incubator is also known for its accelerated preincubation programs, HealthXcel and EnvironXcel which support startups in the healthcare and green tech sector respectively.
BioSpecturm and their survey
The survey by BioSpectrum was for both private and public incubators. Their achievements of the past financial year were analyzed based on the number of incubates, funds raised, space available and MoUs with other agencies.
BioSpectrum also works, and have worked, to identify factors which help business incubation in life sciences to be successful. Through their study, BioSpectrum assesses and benchmarks incubation programs from around India. The first three positions are with Venture Center, KIIT TBI and Crescent Incubator Chennai.
The category, in which BITS BIRAC BioNEST was included, represented 90% of the total field.