Industry & Economy
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Bio-tech & Genetics
Hyderabad biotech chapter launched
Our Bureau
Hyderabad
,
Feb. 10
THE Indus Entrepreneurs on Friday announced the launch of the Hyderabad Biotech Chapter, at the second day of BioAsia 2006.
This chapter will work in synergy with the Indian School of Business and Ernst & Young to promote promising entrepreneurs in the field of biotechnology by providing them the right opportunities.
As a succession to TiE-ISB Connect 2005, there will be another event - TiE-ISB Connect 2006 - in September. However, the scope of the event has been expanded from only information technology to cover retail, infrastructure and biotech as well.
Mr J.A. Chowdhary, while speaking at the launch of the chaptersaid, "It was only imperative for us to start the biotech chapter here considering the frenzy of activities happening in the city in the area of biotechnology."
He invited all budding biotech entrepreneurs to submit their business plan. These business plans will be then evaluated and shortlisted by the TiE-ISB Connect panel. The selected few will then be required to make presentations to a team of renowned VCs.
"We received about 60 business proposals last year, out of which about 12 people were asked to make their presentations. Two-three of these are likely to get their funding very shortly," said Mr Chowdhary.
Mr Srinivas Akkaraju from JP Morgan Partners will support the TiE Hyderabad Biotech Chapter from the US, according to a press release.
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