Padmaja Ruparel is also the Co-founder of Indian Angel Network (IAN), and the Indian Angel Network came into partnership with BIRAC, Department of Biotechnology, to launch BioAngels Network (BiAN) at the Global Bio India 2019.
BioAngels is focussed on seed to early-stage investments in healthcare, biotech, pharma, medtech, cleantech and agritech sectors.
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| Padmaja Ruparel |
Speaking about the plans, Padmaja further said to the website, "BioAngels aims to create a pool of domain experts who will provide their technical expertise to entrepreneurs and investors."
Biotechnology Industry Research Assistance Council (BIRAC), the not-for-profit Public Sector Enterprise of Department of Biotechnology, Govt of India, is providing BioAngels an access to high-quality technology expertise embedded in the Department of Biotechnology ecosystem. This is extremely critical because it is key for investors to understand the technology and its functionality, before taking an investment decision.
Answering a question about specific areas that BioAngels would be focusing on, while working with startups, Padmaja said,"We would be looking at all preventive and curative health issues that can be solved innovatively."
Speaking on reports of cash-crunch startups shutting down their operations and how BioAngels' investment will help in such scenario, Padmaja said , "once both the science and the commercial aspects, legal (IP) are vetted, and investors find trust in the entrepreneurs to lead the journey."
According to Padmaja, biotech/healthcare sector will grow exponentially (13.25%).
Notably, India’s healthcare ecosystem is among the fastest growing sectors having benefited from government policies and liberalized FDI regime in various sub-sectors like hospitals, medical devices, health insurance, etc.
The size of BioTech market alone was valued at around USD 497 billion in 2020 and is projected to grow at a CAGR of over 9.4% between 2021 and 2027.
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