BioNEST-Panjab University (PU), an incubator and accelerator for innovative startups, has announced financial assistance of ₹85 lakh to eight startups under the third call for proposals of the Start-up Entrepreneurship and Enterprise Development (SEED) Fund.
The initiative, supported by the Biotechnology Industry Research Assistance Council (BIRAC), aims to support startups that have achieved proof-of-concept and are now ready to scale up.
PU vice-chancellor Renu Vig stated that the selected startups hail from Rajkot, New Delhi, Bengaluru, Mumbai, Mohali, and Chandigarh. The equity-based funding will help them overcome early-stage challenges and move closer to commercialisation.
The funding specifically targets high-impact innovations in life sciences and allied areas, focusing on affordable and sustainable solutions.
Rohit Sharma, PU BioNEST project director, said that the SEED Fund offers a blend of financial support, access to cutting-edge facilities, industry mentorship, and exposure to investors and collaborators.