LEAP Fund - Launching Entrepreneurial Driven Affordable Products Fund

What it is

Help potential biotech startups pilot and commercialize products or technologies, shorten the path to commercialization and attract follow-on angel or venture investment.

What you get

• Up to INR 1 crore equity or equity-linked investment per selected post-PoC startup

Who it is for

• the startup must be identified and selected through a BIRAC LEAP Fund partner incubator
• the startup must be registered under the Companies Act, 2013
• at least 51% of shareholders must be Indian citizens; OCI and PIO holdings do not satisfy this mandatory condition
• the startup should have a post-PoC product or technology with pilot or commercialization potential
• the startup must satisfy the selected incubator's screening, diligence, investment and milestone process
• the startup must execute a legally binding funding and investment agreement with the incubator
• SEED funding must have completed and must not have been foreclosed or terminated before LEAP support
• a startup suitable for up to INR 30 lakh investment support belongs under SEED, not LEAP
• SEED, LEAP and AcE support are mutually exclusive instruments and SEED/LEAP support must not be concurrent

Not eligible if

• individual applicants without an eligible startup entity are not the beneficiary route
• a startup may not receive BIRAC LEAP funding if its SEED funding duration has not completed or its SEED funding was foreclosed or terminated
• a startup suitable for up to INR 30 lakh investment support must not be matched to LEAP
• the INR 1 crore figure is a maximum investment ceiling, not a guaranteed grant or entitlement
• support is equity or equity-linked investment, not a non-repayable startup grant
• current partner availability, valuation, dilution, instrument, milestones and investment approval remain incubator-controlled
• the selected incubator must address conflicts of interest before final recommendation

How to apply

1. 1
   Confirm post-PoC and commercialization fit

   Map the product, technology, proof-of-concept evidence, pilot readiness and commercialization plan to the BIRAC LEAP Fund scope.

   Official step
2. 2
   Verify Indian ownership and company status

   Confirm Companies Act registration and at least 51% shareholding by Indian citizens, excluding OCI and PIO holdings for this mandatory criterion.

   Official step
3. 3
   Resolve SEED/LEAP/AcE routing

   Check whether the startup belongs under SEED at or below INR 30 lakh, whether SEED support has completed without foreclosure or termination, and that no concurrent support exists.

   Official step
4. 4
   Choose a current LEAP partner route

   Use the official BIRAC partner list to choose a BioNEST incubator, and confirm with them that they are currently accepting proposals.

   Official step
5. 5
   Submit diligence materials and review investment terms

   Follow the partner incubator's intake and committee process, then review valuation, dilution, instrument, milestones, governance, exit and reporting terms before signing.

   Official step

Keep ready