The Small Business Innovation Research Initiative (SBIRI) is a scheme launched by the Department of Biotechnology (DBT) in September, 2005 . It facilitates innovation and risk-taking by small and medium companies, and the coming together of private industry, public institutions and the government under one umbrella, to promote research in the Indian Biotech Sector. SBIRI has consistently prioritised early stage funding for high risk innovative research and extended support for product development and commercialization.
BCIL provided Project Management services for the SBIRI scheme from its inception in 2005 until March 2014. During this period, 157 projects (105 companies) were funded by DBT across the country, and this represented about 15% of the total proposals received.
The scheme is currently being managed by the Biotechnology Industry Research Assistance Council (BIRAC).