This incentive schemes will be launched as part of the celebration of the 75th year of independence of this country.
The Indian Ministry of Science and Technology recently came up with an announcement for the startups in telemedicine. The government is now launching a special scheme for incentives. It will support 75 startups in telemedicine, AI, and digital health.
This scheme will offer incentives through the Biotechnology Industry Research Assistance Council. The Department of Biotechnology is running the BIRAC.
This announcement is coming on the occasion of the celebration for the 75th independence of India from the United Kingdom. Amid this celebration, the Science and Technology Minister Jitendra Singh said that this scheme would be highly beneficial. Identifying and supporting around 75 startups is the most appropriate task that will rightly promote the research and development of the healthcare sector.
Mr. Singh has ordered the directors of the council to offer the startups, participants, with the particular themes. It will also help them to focus on better handling of the COVID-19 in various aspects.
BIRAC is supporting and promoting this new venture of biotechnology under its Startup India and Make in India programs. It has also opted for a lending amount of funding over Rs. 21.28 billion to at least 15000 startups and small businesses.
This council has also worked on extending up to more than 25 billion in its financial aid to help over 5000 biotechnology startups. It is also now targeting to support more than 10000 biotech startups.
The Science and Technology Ministry also came up with the launch of the online office and software of BIRAC this month. India is currently tackling the ongoing COVID pandemic. It has also marked the growth of the telemedicine sector in various parts of the country.
This expansion of support and helping hand towards the telemedicine and digital health startups of India will ensure the growth of this sector. At the same time, it will also help in the growth of the sector that wants to maintain a healthy distance while caregiving to avoid the transmission of the infection.