C-CAMP gets Rs 500 crore under RDI Fund to back deep-tech startups

Bengaluru's Centre for Cellular and Molecular Platforms (C-CAMP) has been selected as one of five Focus Research Organisations under the central government's Research, Development and Innovation (RDI) Fund, with an allocation of Rs 500 crore to invest in deep-tech startups. C-CAMP plans to assemble a consortium with private partners and investors toward a total of Rs 1,000 crore aimed at deep-tech life sciences companies. It is the only dedicated biotechnology organisation among the 19 Second Level Fund Managers announced by the government, which together hold allocations of Rs 7,131 crore; the other four Focus Research Organisations are IISc, IIT Bombay, IIT Madras and BITS Pilani. The allocation positions C-CAMP to write cheques into high-risk biotech work in healthcare, agriculture and environmental technology; deployment pace and the consortium's final shape are still to be disclosed.

DTT summary based on The New Indian Express's report. The full article is on the publisher's site.