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The Scheme Register / AcE

Department of Biotechnology / Biotechnology Industry Research Assistance Council (BIRAC)

Biotechnology Innovation Fund – Accelerating Entrepreneurs (AcE)

EquityGrowth / ScalingStartup-specific
Support type
Equity
Best suited for
Scaling
How much
Startup-level investment varies; fund operates through selected AIFs

What is this scheme?

The Biotechnology Innovation Fund – Accelerating Entrepreneurs (AcE) provides financial support to biotech startups so they can develop and scale innovative solutions faster and bring them to market.

Objectives

The AcE Fund is a 'fund of funds' that aims to partner with fund managers (AcE Fund Partners) and invest in SEBI-registered AIFs (Daughter Funds). AcE Daughter Funds commit investment of 2x BIRAC's contribution into biotech startups.

Who can apply (eligibility)

  • AcE Fund invests and partners with SEBI-registered Category I and II AIFs in biotech sector.
  • Startups and SMEs in subsectors such as Healthcare, Life Sciences, Pharma, Biopharma, Med-tech, Diagnostics, Industrial-Biotech, Agri-tech, Bio-IT/Services and allied areas.

What do you get?

  • The AcE Fund shall make a maximum capital commitment of up to ₹30 crore or up to 30% of the total aggregate capital commitment amount (i.e. fund corpus) in each Daughter Fund.
  • Ticket size of up to ₹7 crore, with provision of additional follow-on funding up to ₹3.5 crore is provided to an eligible startup.

How to apply

Apply on: https://birac.nic.in/aceFund.php