The continuing economic impact of the coronavirus pandemic all through FY 2020-21 threw a number of challenges at startups to stay alive and continue functioning. Despite this, we here at Venture Center have a lot to be thankful for, as we managed to support 7 new innovative ideas last year, continuing to grow and expand our portfolio to include 28 companies. We are also extremely delighted to report that 13 out of our 28 portfolio companies could contribute in the nation’s fight against Covid 19 with various products such as Diagnostics, Peripheral Medical Devices, PPEs & Assistive Devices, Sterilizers & Disinfectants, and more.
Venture Center continues to primarily focus on investments in science-based innovative startups and has invested through our seed funds operated under NIDHI Seed Support Scheme of Department of Science and Technology (DST), BIRAC SEED Fund and BIRAC LEAP fund Scheme of Biotechnology Industry Research Assistance Council (BIRAC). We would like to reach out and thank all the technical experts and committee members for their valuable inputs during the evaluation process, and more specifically adapting to the new way of working over digital platforms.
We are thankful to all our supporting partners and look forward to engage with new funding partners to support our startups with early-stage funding.
Wishing every one a safe and healthy year ahead, and we hope you enjoy reading this issue of the newsletter.
— Shruti Devasthali
Head – Funding and Investment