Frequently Asked Questions (FAQs)
1. What is the National Bio Entrepreneurship Competition?
‘The National Bio Entrepreneurship Competition’ is a nationwide competition inviting path breaking, revolutionary and scalable business ideas in the Life Science/ Biotechnology domain. The best ideas will win exciting awards which include an investment opportunity of USD $ 100,000, cash prizes of INR 10 lakhs, mentoring, business acceleration, access to seed funding and a one-on-one metting with investors.
2. Who is organising the National Bio Entrepreneurship Competition?
The National Bio Entrepreneurship Competition is organised by BREC - a joint entrepreneurship development centre of BIRAC and C-CAMP.
3. In what domains of biotechnology can ideas be submitted?
Ideas can be submitted in any of the following domains:
- Healthcare including drug discovery and development, vaccines, diagnostics, medical devices, digital health, healthcare IT, regenerative medicine
- Agri-biotech including food, nutraceuticals, soil health, plant-based therapeutics
- Animal health
- Industrial biotech including clean and renewable energy
4. Who can apply for the National Bio Entrepreneurship Competition?
Aspiring entrepreneurs, start-ups and biotech companies can apply for this Competition.
5. Can Individuals apply?
Yes individuals can apply. Since the Competition is aimed at commercializing the idea, it would be good if individual applicants can form a team with 3 more members. The choice of a team member is entirely the applicant’s prerogative. However forming a team is not mandatory.
6. How many applications can one person/company submit?
An individual or a company can submit multiple applications. However note that: (a) you will have to register separately for each application and using separate email IDs; (b) if the multiple applications submitted by you get the same score, only one idea will proceed to the next round.
7. How does one apply?
You have to apply online in the prescribed form. The Application Form is available here. Only applications received through this website will be considered for Review.
8. Will the idea and details I share be kept confidential?
All details submitted in the Application Form as well as subsequent presentations will be treated as confidential to the extent possible. All Reveiwers will sign CDA/NDA; however the responsibility of protecting information prior to putting it out in the Application Form or sharing it with anyone, lies wholly with the Applicant and we strongly recommend that any applicant that has any concerns regarding Intellectual Property (IP) Protection and disclosure of information contact an appropriate and competent IP counsel before filling in the Application.
9. Does the idea have to be absolutely original?
The idea can be original or it should demonstrate a significant improvement over currently available solutions.
10. Is there a fee to apply for the Competition?
No. There is no fee to apply for the Competition.
11. What is the deadline for applying for the Competition?
The deadline for applying to the Competition is 16th September 2017.
12. Do we need to have validation studies/prototype ready to be able to apply?
No this is not mandatory as this Competition is primarily seeking business ideas. If you already have validation studies or a prototype, you can add it in the ‘Supporting Documents’ section of the Application Form; however, this is not part of the ‘selection criteria’.
13. Are we required to provide any proof of identity?
Yes. Applicant should be a citizen of India and should upload their photo identity card in the online Application Form.
14. What is the selection process?
The selection process will comprise a Review of the Application Form by a competent Review Panel in the first round. Applicants shortlisted after the first round will be asked to make presentations to the Review Panel. This will be Round 2. Applicants selected after Round 2 will get to attend the 3-day Entrepreneurship Development Boot Camp. This is Round 3. At the end of the Workshop there will be a presentation to the Grand Jury who will then select the Winners.
15. What is the selection criteria?
The Selection criteria for Round 1 are scientific/technical strength, societal impact, and business potential; for Round 2 the criteria are novelty of the idea, value proposition, business model/implementation plan, team strength and quality of the presentation. And for Round 3 are path breaking/novelty quotient, business potential, and societal impact.
16. How will I know if I am selected?
Only the selected applicants will be notified by email. It is the responsibility of the applicant to check their emails regularly around the date of 'notification of acceptance'. The selected applicants who do not respond to the notification of acceptance email will not be followed up further after a waiting period of three days.
17. Who are the Reviewers and Jury Members?
The Reviewers and Jury Members will be domain experts from Academia, Industry, Investment sector as well as from other ecosystem stakeholder organisations.
18. What is the Entrepreneurship Development Boot Camp?
The Entrepreneurship Development Boot Camp is a 3 day residential workshop that will train the participants to formulate, develop and commercialize their business ideas. At the end of the Workshop, on the next day, the participants will make a Business Plan Presentation to the Grand Jury. This is the Grand Finale of The National Bio Entrepreneurship Competition.
19. Is the Boot Camp compulsorily residential? Will I have to pay for the Boot Camp?
Yes, the Boot Camp is compulsorily residential. The organisers will pay for accommodation and food. The organisers will also reimburse travel expenses equivalent to train fare (3AC and below, non-premium trains only) to and from Bengaluru. You will pay for personal expenses such as laundry, printing, photocopying, telephone calls etc. There is no fees for the Boot Camp.
20. How many team members can attend the Workshop?
2 team members can attend the Workshop including the Applicant. The other team member must already have been included in the Application Form.
21. Will laptops be provided?
No – you will need to bring your own laptops, chargers and adaptors. We will provide the LCD Projector.
22. When will the awards be given?
The Awards will be announced at the Grand Finale on 16th December 2017 and the Cash Prize will be given on the same day.