Biotech Startups Shifting Gears in the Medical Innovations

Biotech Startup Ecosystem: Biotechnology can be spelled as the manipulation of living organisms to create commercial products, and this industry is largely divided into the medical and agricultural markets. Over the time, the country is witnessing a rising shift of biotech startups, who are playing an increasingly impactful role in medical innovation, drug discovery and development by shifting gears in the medical innovations. While larger pharmaceutical organizations have traditionally facilitated drug development and launches, the last three years have seen more than 40 percent of new active substances both originating and launching from biotech startups.

Status of Biotechnology in India: The Indian Bio economy has witnessed a manifold increase in valuation in the past ten years, and today, India is among the Top 12 destinations for biotechnology worldwide and 3rd largest destination for biotechnology in Asia Pacific. As per a report by Investinindia, in 2022, India’s Biotechnology industry has crossed $80.12 billion, growing 14 percent from the previous year with COVID-19 giving the industry a muchneeded boost. Today, India is poised as one of the leading destinations for bio innovation and biomanufacturing.

Growth Factors: There are a myriad of factors which have vitally...