2013-10-16 09:22:04 - The Association of Biotechnology Led Enterprises (ABLE) conducted its’ 5th edition of Biotechnology Entrepreneurship Student Team (BEST) event.
The Association of Biotechnology Led Enterprises (ABLE) conducted its’ 5th edition of Biotechnology Entrepreneurship Student Team (BEST) event, in collaboration with the Department of Biotechnology in Bangalore from October 9th to 13th. Successfully held for the past four years, this much awaited forum for young B.E./B.Tech postgraduate and doctoral life sciences students to realise their entrepreneurial dreams witnessed 149 teams vying for top honours with 20 of them travelling to the Biotech Capital of India.
Of the 20, five succeeded in bagging the three top spots. With their Innovative Glucose sensor the youngest team (average age of less than 22 years) from IIT Madras was declared the top team whereas the teams from IISc and Centre for Converging Technologies CCT,
University of Rajasthan and Amity Institute of Pharmacy, Noida combo team were joint second. Stanford India BioDesign Center, AIIMS- New Delhi and ICT -Mumbai bagged the joint third.
The top five teams will attend ABLE's BioInvest Conference, arguably the largest and most prestigious Life Sciences Investment Forum and present their business plans to Venture Capitalists, Private Equity Fund Managers and other investors.
The “BEST” winning team from IIT Madras
Dr. P.M. Murali, President - ABLE said, “This was the essence of young Indian entrepreneurs’ innovative thinking. Some of us who were part of the jury felt absolutely thrilled to be associated with this programme. Ultimately, we are beginning to realise that Indian science is in the capable hands of these youngsters. We are thankful to the Department of Biotechnology, Ministry of Science & Technology for their continued support and encouragement in conducting the BEST program.”
After two and a half days of mentoring and interacting with company heads like Kiran M. Shaw (MD, Biocon), Anand Anandkumar (MD, CellWorks), Sohang Chatterjee (CEO, Theramyt Biologicals), Deepanwita Chattopadhaya (MD, IKP) and others, over 90 students from 20 teams presented their case to a jury of six hardcore professionals on October 13. Each team had 20 minutes to prove the scientific and business merit of their idea or product.
It was a stimulating experience and the jury had a tough time deciding the winners with only a few points separating the top 5 teams. One of the jury members expressed, “It was surreal to see such confident and knowledgeable teams of entrepreneurs and potential entrepreneurs with extremely innovative ideas, committed to make a difference and bring about change to our country. I was humbled by their potential and felt so proud of these people at the same time! ABLE is truly privileged to be associated with BEST which must be one the most important annual events that is shaping the future of Biotech in India.”
Another Jury member with over 25 years of investment experience in Life sciences opined, “For the first time, I felt like investing my personal money on 2-3 teams who clearly explained the quality of the stuff they are doing. It is time for angel investors to wake up and look at the emerging stars of Biotech in India!”