India's Biotech Startups Enter Uncharted Territories
The Indian 'bio-economy' has grown eight times over the last eight years to reach $80 billion, said Prime Minister Narendra Modi at the Biotech Startup Expo 2022 that was held last week. Biotechnology, which employs technology to solve complex human challenges with technology, spans various branches such as animal biotechnology, medical biotechnology, industrial and environmental biotechnology.
In the recent past, many startups have emerged out of the convergence of biomedical sciences with disciplines such as genomics—the study of the complete set of DNA (including all of its genes) in a person or other organism—to enable better disease prevention, enhanced diagnosis, and optimized treatment. Estimated to reach $94.65 billion in 2028, the global genomics market counts within its ambit a few important Indian biotech startups. For instance, MapMyGenome was founded in 2013 to offer customers DNA-based immunity report containing information about vulnerability to certain diseases and most effective drugs and has raised $1 million from investors.