The biotechnology industry is one of the fastest growing segments in India. Valued at 11 billion USD in 2018, the Indian biotechnology industry is expected to touch the 100 billion USD mark by 2025, according to the Association of Biotechnology Led Enterprises (ABLE.) With more and more people choosing biotechnology as a career, there is ample chance of success in this field. We will be looking at the biotechnology startups which paved the way for the blooming biotechnology industry in India.
Best Biotechnology Startups In India
This Bangalore based company is the largest biopharmaceutical company in India. Founded in 1978 with a budget of Rs. 10,000, Biocon started as a company selling the enzyme papain. In the 1990s, founder Kiran Mazumdar-Shaw decided to change the focus of the Company from selling enzymes to selling biopharmaceuticals. Subsequently, Shaw became one of the richest women in India. Today, Biocon sells insulin and monoclonal antibodies, among other products. The Company had an annual revenue of Rs. 4,709 crores in 2018.
This startup was founded in 2010 by four IIT Madras graduates and works towards the development of scalable solutions to solve the problem of overconsumption of energy in India. The Company is developing techniques to convert photosynthetic biomass like plants and algae to fuels, in an effort to battle the increasing commercial use of energy in the Country. Incubated at the Centre for Cellular and Molecular Platforms (C-Camp) and funded by the Department of Biotechnology, the startup has patented techniques to facilitate large scale cultivation of selected sea plants.
Headquartered at Hyderabad, this Company was founded in 1996 by an Indian scientist, Krishna Ella. One of the leading biopharmaceutical companies in India, Bharat Biotech was the first to develop and patent vaccines for the Zika virus, Zikavac, in the world. It is the first pharmaceutical company to develop a generic drug in India.
Founded in 2010 in Bangalore by Dr. Vinay Panda and Dr. Vijaya Chandru, Genomics Application and Information Technology Labs (GANIT Labs) is an independent government funded startup. GANIT Labs studies genomes related to oral cancer and helps in mapping their genes. It is also involved in creating analytical tools which effectively analyse and manage large scale genome data, mainly from genome sequencing of disease tissues like cancer.
Founded by Sam Santosh in 2013, MedGenomes provides personalised genetic tests and medicines for a range of ailments like cancer, diabetes and neurological ailments. The Company has headquarters in the U.S.A., and India and claims to operate the largest next gen sequencing lab in southeast Asia. In 2017, the Company secured a whopping Rs. 192 crores in funding. In 2018, MedGenomes was given the MedTech Breakthrough Award for Biomedical Research.
With the growth of the biotechnology industry and a renewed interest of investors in it, the success story of these biotechnology startups will inspire many biotechnology entrepreneurs out there who are aspiring to start their own company one day.