Bhubaneswar: A grant support of Rs 10 crore will be given to new bio-incubators in the state for conducting translational research, commercialisation and building a sustainable biotech entrepreneurship ecosystem. Similarly, Rs 5 crore will be given to existing bio-incubators for this work.The govt has issued guidelines to set up and upgrade biotechnology incubation centres across Odisha. The initiative aims to support biotechnology-based start-ups, promote entrepreneurship and convert laboratory research into market-ready products. The policy issued by the science and technology department outlines financial and institutional support for new and existing bio-incubators in academic institutions, research bodies and biotechnology industries operating in Odisha. “This move will help create skilled manpower, boost innovation and develop a strong bio-economy,” said sources. Under the scheme, institutions can apply in two categories. Category I supports setting up of new biotechnology incubation centres, while Category II focuses on boosting existing facilities.“Eligible institutions may receive financial assistance of up to Rs 10 crore for new incubators over five years, while existing centres can get up to Rs 5 crore for infrastructure upgradation over three years, extendable based on performance,” the guidelines read.They specify that applicants must be legally registered entities operating in Odisha for at least five years. A minimum of 5,000 sq ft of built-up space is must. Centres will provide start-ups with shared lab space, access to equipment, mentoring, legal and business advisory services, skill training and networking chances.Special emphasis has been laid on collaboration with financial institutions, angel investors and venture capitalists to help start-ups raise funds, sources said.According to guidelines, proposals will be screened by a screening committee and evaluated by a project evaluation and review committee (PERC) comprising experts from govt, industry and academia. Funding will be released in phases and will be strictly performance-based, with annual reviews and audits.Each bio-incubator will also be required to establish a technical and business advisory committee to ensure efficient governance and alignment with the state’s innovation goals. Host institutions must appoint a full-time CEO and ensure the incubator becomes self-sustainable within five years.The department has invited eligible institutions to submit proposals through proper channels. Officials said the initiative is expected to position Odisha as an emerging biotechnology hub while generating employment and encouraging innovation-driven entrepreneurship.
