The Centre for Cellular and Molecular Platforms, known as C-CAMP, which stands as one of India’s leading hubs for bioscience innovation and one of the most significant bio-incubators in the country, has formed a strategic alliance with the University of Massachusetts Venture Development Center and TiE Boston. This collaboration is poised to spur innovation and entrepreneurship within the healthcare, life sciences, and biotechnology sectors through the creation of an integrated India-US Corridor. The Corridor aims to stimulate life sciences ventures in both regions.
The agreement, a Letter of Intent, was formalized at the TiE Global Summit in Bengaluru. The signatories included Dr. Taslimarif Saiyed, director-CEO of C-CAMP; Dr. Shubhro Sen, executive director of the Venture Development Center and assistant vice provost for strategic initiatives at the University of Massachusetts, Boston; and Dr. Purnanand Sarma, president of TiE Boston.
“This agreement with UMass and TiE Boston signifies a collaboration between C-CAMP, showcasing one of India’s most robust startup ecosystems, and Boston, the sixth largest globally according to the 2024 Global Startup Ecosystem Report. Boston is also recognized for having a prominent regional economy in the US. Our objective is to harness this by paving the way for Angel and Venture Capital investments for emerging Indian startups, thereby contributing to India’s burgeoning bioeconomy in line with governmental priorities,” expressed Dr. Saiyed.
TiE holds the distinction of being one of the largest global not-for-profits dedicated to supporting startups and entrepreneurs. Dr. Sarma noted, “Our India-US initiative is focused on utilizing our extensive network of TiE Charter Members, Angel Investors, and Venture Capitalists in conjunction with partners like C-CAMP and UMass VDC. We aim to identify, back, and provide financial avenues to startups, intending to expand them into global entities.”
Dr. Sen from UMass Boston mentioned, “We are excited by this mutual collaboration to choose and support C-CAMP startups with the potential for international impact, offering H1B visas, coworking spaces, funding avenues, and specialized equipment in Boston, which is spearheading the life sciences realm worldwide. Additionally, we foresee Boston and US-based firms utilizing this pathway to forge strategic collaborations, conduct clinical trials, and develop mutually beneficial solutions for the Indian and Asian markets.”
The India-US Life Sciences & Healthcare Venture Growth Corridor will facilitate connections between the two ecosystems anchored by C-CAMP and UMass to further the renowned scientific research both are known for. It will aid in the co-development of innovation-driven products and technologies, aiming for commercialization. Moreover, it will foster and accelerate the ideation process, and the inception and growth of early-stage startups.