Incubators and innovation hubs: Accelerating entrepreneurship in life sciences

“The first wealth is health,” said the American philosopher Ralph Waldo Emerson in 1860, and strides in life sciences entrepreneurship pronouncedly affect this form of wealth in any country.  In India, the life sciences innovation, which includes pharma, biotech, and medtech, is valued at $30 billion in 2024. The country’s health metrics, such as the growing burden of non-communicable diseases, rising life expectancy, malnutrition, and air pollution, present a further scope for innovations in life sciences to strengthen healthcare delivery estimated to reach $60 billion by FY 2028 (1). However, turning these estimates into results requires a well-rounded ecosystem that allows young entrepreneurs to concentrate on research and innovation, backed by the two pillars – innovation hubs and incubators. Innovation hubs are collaborative spaces that connect startups, corporations, universities, and other players, enabling them to share ideas and resources to drive progress. Incubators focus on helping early-stage companies by providing resources such as mentorship, funding, and support to facilitate growth. Together, they create an ecosystem that supports collaboration and innovation, helping to transform new ideas into real-world solutions, particularly in fields like life sciences.

Notable efforts to support life sciences innovation  

Both government and privately-owned innovation hubs and incubators address these challenges by providing space, driving innovation, and expanding access to essential healthcare solutions nationwide. The Atal Innovation Mission, through its Atal Community Innovation Centers (ACICs) and Atal Incubation Centres (AICs), the Department of Science and Technology (DST) (2), and the BioNEST program by the Biotechnology Industry Research Assistance Council (BIRAC (3) have been instrumental in propelling life sciences startups toward success.

The Bangalore Bioinnovation Centre (BBC), established in 2015 and supported by both state and central government bodies, offers a 10-acre campus with specialised labs for emerging biotech firms. This facility helps startups refine their products and accelerate their growth in a competitive field (4). Initiatives such as the Centre for Cellular and Molecular Platforms (C-CAMP) have supported over 200 startups by providing advanced lab resources and mentoring. Programs like the Biotechnology Ignition Grant (BIG) offer financial support for early-stage biotech firms, assisting in key technological developments like proof-of-concept studies and prototyping.

In the West, The Life Sciences Innovation Hub (LSIH) in Calgary is a notable innovation hub that brings together startups, established companies, research institutions, and government entities. It addresses critical challenges for life sciences companies transitioning from research to commercialisation. Before its creation, many local startups had limited lab space, infrastructure, and expert guidance, often leading them to relocate to larger markets. By offering shared labs, specialised equipment, and mentorship, hubs like Biohubx and LSIH help companies grow locally. These hubs now house multiple innovative firms supported by federal funding, contributing to job creation and cementing Calgary’s position as a global destination for life sciences innovation (5). Similarly, globally renowned incubator JLABS by Johnson & Johnson supports startups without taking equity, offering state-of-the-art lab space and resources that have helped companies like Certa Dose, a medical device firm, develop AI Certa Dose, a simple syringe process to prevent misdosing of children’s medication. 

Preparing to facilitate greater success 

Innovation hubs and ecosystems are essential to advancing pharmaceuticals and biotech. They streamline regulatory processes, easing startup compliance and allowing faster time-to-market for innovative solutions. These hubs promote industry-academia collaborations, ensuring research aligns with market needs and opening up access to investors and grants. Simplified regulatory approvals and adherence to international standards help create an environment where innovative therapies and technologies can be commercialised more swiftly.

A notable example is Russia’s Skolkovo Innovation Center, which offers biotech and pharma startups R&D facilities, infrastructure, and mentorship. Skolkovo’s integrated model allows startups to overcome early-stage development challenges by providing workspace, partnerships, and funding opportunities. Inspired by Skolkovo’s success, India plans similar townships to bring together entrepreneurs, investors, and innovators to boost the country’s growing startup ecosystem, including biomedicine.

Building on this foundation, incubators connect startups with strategic partners and guide them through regulatory complexities. Advanced technologies like AI, robotics, and blockchain further enhance drug discovery and diagnostics innovation. Strengthening funding mechanisms through tax incentives, grants, and milestone-based investments can attract private investment in biotech ventures. Further, focusing on sustainability and resource efficiency can amplify the long-term impact of these innovation hubs, driving sustained growth in the biotech and pharma sectors.

Innovation hubs and incubators are the bedrock of the life sciences and healthcare boom. India, with 47 per cent of its 1.4 billion population under 25, holds a vast pool of young, skilled talent poised to drive entrepreneurship in life sciences and healthcare (6). As the pharmaceutical industry targets $130 billion by 2030 (7) and the medical devices market is eyeing $ 50 billion by 2030 (8), incubators and innovation hubs will be instrumental in harnessing this potential, empowering entrepreneurs to lead the nation’s growth in these sectors.

References 

1.  https://www.bain.com/insights/healthcare-innovation-in-india/
2. https://dst.gov.in/sites/default/files/Enhancing per cent20S per cent26amp per cent3BT_Incubator_ %2016–5-2018.pdf
3. https://birac.nic.in/webcontent/Bionest_Compendium.pdf
4. https://www.bioinnovationcentre.com/
5. https://www.calgaryeconomicdevelopment.com/newsroom/ocif-life-sciences-innovation-hub-strengthen-ecosystem-in-calgary/
6.  https://www.ibef.org/industry/biotechnology-india
7. https://www.ibef.org/industry/pharmaceutical-india
8. https://www.ibef.org/industry/medical-devices