Dr Krishna Ella, Co-Founder of Bharat Biotech and Technology Development Board (TDB) has signed an agreement to set up a Sustainable Startup Fund. Towards this, Dr. Krishna Ella has agreed to support an initiative, where he has agreed to give ₹200 Crores & TDB will contribute the matching ₹200 crores to form a ₹400 Crores Corpus Fund which will be used exclusively to support Startups.
Furthermore, Sapigen Biologix , helmed by Dr Krishna Ella of Bharat Biotech and the Technology Development Board (TDB) of the Ministry of Science & Technology has signed an agreement for the development & commercialization of two novel vaccines – “Intranasal Covid-19Vaccine and RTS, S Malaria Vaccine. The agreement was signed in New Delhi on Saturday.
Through this fund, Startups will be supported in different fields across India using services of professional agencies at relaxed terms and conditions.
New Startup Fund by Dr Krishna Ella and TDB to ensure equal Stake, equal partnerships
Dr. Jitendra Singh said that this initiative will ensure equal stake with equal partnership and responsibility for the Industry for sustainable StartUps. He said that the vaccine strategy of India symbolises Prime Minister Narendra Modi’s idea of an Atma Nirbhar Bharat.
Dr Jitendra said that India’s vaccine strategy brings together pharma, industry and academia together in a partnership with an eye on meeting the current as well as possible future challenges, under the leadership of Prime Minister Modi.
The Union Minister said that the idea behind initiatives like this is to have a sustainable partnership in the long run and provide a sustainable source of livelihood to India’s youth. Dr. Singh opined that the Government of India, led by Prime Minister Modi, is encouraging industrial outreach by extending all possible support.
Highlights of Sapigen Biologix and TDB Malaria Vaccine Development Program MoU
- Technology Development Board, M/o Science & Technology supports M/s Sapigen Biologix Private Limited, Hyderabad for development & commercialization of two novel vaccines – “Intranasal Covid-19 Vaccine and RTS, S Malaria Vaccine”
- This initiative will ensure equal stake with equal partnership and responsibility for the industry for sustainable start-ups, says, Dr. Jitendra Singh
- India’s vaccine strategy brings together pharma, industry and academia together in a partnership with an eye on meeting the current as well as possible future challenges, under the leadership of Prime Minister Modi
- India -leading the way to fight Covid-19 pandemic to save mankind with the development of “Intranasal Covid-19 Vaccine” and set to play even bigger role in worldwide drug security
- TDB-DST supported Sapigen helmed by Dr Krishna Murthy Ella to set up state -of- the -art world- class vaccine manufacturing facility in Bhubaneswar, Odisha
- TDB-DST supported Sapigen to commercially produce world’s first malaria vaccine and India’s first intranasal covid-19 vaccine