According to the India Bioeconomy Report (IBER 2022) published by the Biotechnology Association, there were 145 new registrations in the state, followed by Telangana (100), Karnataka (95), Uttar Pradesh (93) and Delhi-NCR (90). Guided Enterprises (ABLE).
Maharashtra is home to 966 biotech start-ups, the highest number in any state.
Next comes Karnataka with 697 start-ups, while Delhi-NCR has 590 and Telangana has 563 such businesses.
According to the report, 2021 has been a landmark year as India’s biotech industry registered over 1,000 new startups for the first time in a calendar year.
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By the end of the year, the number of new startups had risen to 1,128, bringing the total number of biotech startups to 5,365.
At the end of calendar year 2020, there were 4237.
Increase bioincubatorsseed capital and mentoring support programs offered by governments have created a favorable ecosystem for bioinnovators explore opportunities in new areas of biotechnology such as SCPs, biostimulants, cancer genomics, gene editing and synthetic biologysaid Krishnan G.S., president of ABLE.
“The result is visible in the record number of biostartups registered in 2021. I hope this trend continues in the next few years,” Krishnan said.
Of the new startups registered in 2021, 444 are in biomanufacturing, 402 in bioservices, 152 in biotechnology trade, 90 in biotechnology machinery and equipment, and 40 in bioagriculture and related fields.
In fact, about half of the biotech startups in India have been around for less than three years, with the rest between 2015 and 2018.
According to the report, 21% (over 1,100) biotech startups are less than a year old, 29% (over 1,500) are 2-3 years old, and 36% (over 1,900) are 3-5 years old.
About 14% (over 730) are over five years old.
These startups offer more than 1,000 solutions, and about 2,600 of them receive funding from the Biotechnology Industry Research Promotion Council (BIRAC).
During the Covid-19 pandemic, some startups have developed and commercialized a range of innovative products, including test kits, PPE kits, transport media, and sequencing services.
Entrepreneurial trends in the biotechnology industry can be divided into three main time frames. The first period is until 1995, the second period is between 1995 and 2015, and the third stage is from 2015.
Before 2000, there were only a few biotech companies in the country.
After 2015, many companies started with classrooms or premium schools and labs.
According to the report, the regulatory environment has become more streamlined and ecosystem support has become available, with the Department of Biotechnology (DBT) removing regulatory hurdles and creating an ecosystem to encourage entrepreneurship.