ENA Sectors 2018-12-19 07:47:16 <p><strong>New Delhi, Dec 19 (KNN)</strong> BIRAC, the Biotechnology Industry Research Assistance Council, will fund private fund managers registered with the Securities Exchange Board of India (SEBI) under the Accelerating Entrepreneurs (AcE) Fund.</p> <p>Biotechnology Innovation Fund Ace is an equity Fund of Funds created exclusively to partner with SEBI registered private funds to invest equity in Biotech start-ups for providing the risk capital to undertake innovation, research and product development.</p> <p>In this regard, BIRAC has called for invitations from Private Funds registered with the market watchdog before January 20, 2019.</p> <p>The BIRAC AcE Fund operates as Fund of Funds to foster R&amp;D and innovation in Biotechnology domains including areas such as healthcare, pharma, medical devices, agriculture, sanitation to name a few.</p> <p>It is intended that the AcE Fund plugs the gap of the Valley of Death encountered by the Biotech start-ups during their product development cycle and growth phase.</p> <p>AcE Fund aims creation of an ecosystem for providing risk capital to young enterprises to undertake research and development in high priority technology areas.</p> <p>AcE Fund is being promoted by DBT through BIRAC, under the aegis of Make in India initiative. <strong>(KNN Bureau)</strong></p> 21584 https://knnindia.co.in/news/newsdetails/sectors/birac-invites-applications-from-sebi-registered-pvt-fund-managers-for-accelerating-entrepreneurs-ace-fund 2018-12-19 07:47:16 knnindia.co.in