The Department of Biotechnology (DBT) has called for proposals from professionally-led and managed financial institutions registered under the Indian Companies Act 1956 or Societies Registration Act 1860 to function as the ‘SBIRI Management Agency’ (SMA) under small business innovation research initiative (SBIRI) scheme from 2010 onwards.

The SBIRI scheme, which was launched in 2005-06 to support small & medium biotech enterprises for proof-of-concept research and development of innovative research leading to commercialization, is operated through an SMA and the tenure of the present SMA will be completed shortly. The scheme has received tremendous response so far from the industries during the last more than two years since it was launched. The department has assisted more than 50 companies under the scheme so far.

The role of the SMA will be to organize various meetings of expert committees of SBIRI; to assist in preparing documents, agenda papers and various material related to the scheme; to communicate with project coordinators, principal investigators, referees, experts and others as per the directions of DBT; to disburse grants-in-aid and loan to approved projects as per the sanctions of DBT; to keep track of the receipts of repayments and any other dues from companies; to arrange payments towards travel, honorarium and any other incidental expenses required to administer the scheme from SBIRI funds as per the DBT norms; to ensure safe custody of all files, documents etc. entrusted by DBT and to hand them over to DBT, whenever asked for; and to take up any other related task.

The scheme aims to strengthen the existing private industrial units whose product development is based on in-house innovative R&D and create opportunities for new technology-based or knowledge-based business by science entrepreneurs. It also intends to stimulate technological innovation and product commercialisation, enhancement of public-private partnerships and increase product development and commercialisation in the public-private sector derived from government funded R&D projects.

The scheme operates in two phases and in the first stage the funding will be provided for the highly innovative, early stage, pre-proof-of-concept research. And in this stage, preference will be given to proposals which address important national and social needs. In the second phase, funding will be given for the development and commercialisation of available innovative search leads. Projects wherein proof-of-concept is already established with R&D unit of the industry also will be eligible for the direct support.

The scheme covers all the areas in biotechnology including healthcare, agriculture, industrial products and processes, environmental biotechnology and bio-medical devices and instruments.

Courtesy: www.pharmabiz.com