Retaining Talent and Managing R&D is a big challenge for Indian Biotech Start-ups

Bangalore, June 18, 2009: Resources, retaining the talent and simultaneously managing R&D and company are some of the main challenges faced by Biotech start-ups in India, according to founders of start-ups who participated in the panel discussion on “Enterpreneurship Clinic” at the ninth edition of Bangalore Bio, India's premier Biotechnology event organized by the Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, Vision Group on Biotechnology and MM Activ Sci-Tech Communications Co,. The panelists outlined the challenges they faced in the formation days of their respective companies and shared how they overcame those challenges successfully.

Initiating the panel discussion, Dr. Chandrasekharan Siddamadappa, Managing Director, Enzene Biosciences Pvt Ltd, said, “Three key challenges of start up companies are: 1.Creating facilities and retaining talent, 2. Market/business networking, and 3. simultaneous managing of business and R&D. As start up companies cannot afford big allocation to HR, they can attract only second level talent and eventually spend money to only train them, but they will soon jump ship and go to bigger companies. Industry should find a way to address this problem.”

Siddamadappa shared the experience of his company, on how it overcome some challenges by focusing on 'THREE Ps' (Product, Paper and Patent). His company divided the process into very short-term goals that fit in major plan but could produce any of the 3 Ps.

Dr. Sanjay Bettadapura, founder of Polyclone Bioservices Pvt Ltd, said, “Crossing proof-of-concept stage before investment is a biggest challenge to the start ups. Plyclone crossed this hurdle by offering services under 'fee for service' model.”

Ms. Kavita Iyer Rodrigues, co-founder of In Bio Pro, said, “It is very difficult to get Government funding in India for research for start ups. Here, accessibility and transparency are the biggest issues. Though there is no dearth for talent in India, changing mindsets is a bigger problem than changing business plans.”

Dr. Vinay Babu, Managing Director, Bioneeds Preclinical Services, said, “getting highly skilled persons for clinical trials work is a challenge in India. The reason is big companies pay heavily and people will not leave them to work in a start up. Only solution to attract such talent is to offer stake in the company and making them a part of the day-to-day management.”

Dr. Basavaraj Girennavar, Managing Director, Criyagen Agri & Biotech Pvt Ltd, said, “Infrastructure creation and maintaining that is another challenge in addition to the above mentioned ones. Our company is focusing on energy farming and liquid bio-fertilizers for sustainable agriculture. Through there is a huge demand in this segment, start ups always face infrastructure creation problems.”

Source : Equity Bulls

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