FAQs – Frequently Asked Questions

1. What is BEST programme and what are its salient features?

BEST is an acronym for Biotechnology Entrepreneur Student Teams Programme. BEST is an innovative talent search programme jointly promoted by the Department of Biotechnology, Government of India (DBT) and The Association for Biotechnology Led Enterprises (ABLE). The scheme is administered by ABLE from their headquarters at Bangalore. Visit us at www.ableindia@org

The scheme aims to promote and foster true entrepreneurship in the field of life sciences by locating student teams and encouraging them to come up with ideas that hold commercial promise.

The programmes would be run on the basis of a competition that would invite concepts from Post graduates and PhDs in the field of life sciences from the entire country.

Short listed teams would be invited to a four day Workshop at Bangalore that would impart skills required to start a venture.

Winning teams would be awarded attractive cash prizes of Rs. 5 Lakhs, Rs.3 Lakhs and Rs. 2 Lakhs, respectively for the first ,second and third teams.

2. Who can apply?

Students pursuing masters or doctoral degree in the area of life sciences (bioscience/bio-technology/and or related subjects) from Indian universities/institutes can apply.

3. Can individuals apply?

No. As the name indicates the programme is intended to build and promote teams that support a common idea.

4. Does it have to be 5 members in a team?

Not necessarily. 5 is the maximum and preferred number of team members and the minimum is 3.

5. Should we have a Guide/Mentor?

A Guide or Mentor is preferable, but not a must. The Guide/Mentor is not a team member and will not be entitled to any privileges that team members are eligible for, including reimbursements, prize money, making presentations to the Jury or at BioInvest, etc.

6. So how can we compete?

If you have an idea that has scientific merit and commercialization potential, you need to form a team comprising not more than five members. Discuss extensively among your team mates and evolve a Concept Note that has a scientific basis and sound reasoning in terms of commercialization to be worthy of consideration by the jury. Send your Concept Note in the prescribed format before the deadline.

7. Should the teams be from the same institution?

Student teams may be from the same institution or from different institutions. However they have to be from life science streams and appropriately forward a letter from the HOD should accompany the entry format. The leader of the team will be responsible for communicating with his team members at all times.

8. Does the idea have to be absolutely original?

No. Existing ideas can be developed, but it will have to be creative and have the potential for commercial application. The aim of the scheme is to identify a potential idea and nurture it through entrepreneurship.

9. Is there any entry fee for the competition?

No. There is absolutely no entry fee whatsoever.

10. How can we send these Concept Notes and is there a deadline?

To participate, you need to download the entry format available on ABLE website free of charge. Completed forms will have to be sent by e-mail and post to ABLE before 31st March 2009.

11. Are we required to provide any proof of identity?

Yes. Students should send a certified copy of their student identity card with the Concept Note. Selected teams must carry their student identity card to the Workshop.

12. Why and what is this workshop?

The workshop is intended to strengthen business skills of student scientists to enable them to start a venture.

13. Will the participants be paid travelling expenses to attend the workshop?

Yes, 3AC class return fare will be paid to the invited participants on production of proof of travel. Local transport will be at your own cost.

14. Will boarding and lodging be paid for at Bangalore?

Yes. Cost of accommodation and travel, at approved rates, will be paid/borne by the organizers to invited teams. This will not include telephone, reprographics, beverages, and other personal items.

15. What will the Workshops address?

Workshop will be conducted by eminent experts and will focus on giving information to the participants as to how to make a business plan, financing options, IP and Patenting Strategies, etc.

16. When do we have to make the business presentations?

The teams will make their 10 minute presentation immediately after the workshop.

17. Do we have to bring our own laptops?

Each team should bring at least 1 laptop. LCD projector will be provided.

18. What other incentive is offered?

Teams will have get to meet officials of the Department of Biotechnology, Government of India. They will have an opportunity to meet and interact with industry leaders from the Life Science and Investment sectors.

19. What is the total duration of the scheme?

The scheme would commence in February 2009 and will be completed by July 2009.