The Indian biotechnology industry is a fast-growing knowledge-based sector. India currently ranks amongst the top 12 biotechnology destinations in the world. Bioentrepreneurship is the creation of wealth by applying the knowledge of biosciences and biotechnology to the business context. Bio-entrepreneurs and respective stakeholders operate in a knowledge-based and technology-based industry, where competitive advantage is achieved through invention, innovation, and effective management of intellectual property.

Major challenges include scattered information and a disjointed business landscape, slow technology diffusion due to lack of information sharing, skewed funding, lack of mentoring and support systems, lack of appropriate tools for analyzing uncertainty of bio-business and prediction, adapting to the new reality and interfacing with the virtual world, and lack of sensitization about bio-entrepreneurship. Identified opportunities are huge demand, untapped market potential, lesser competition, a level playing field for entrepreneurs, and competent human resources.

A need of the hour is to have a technological intervention to motivate, empower, and enable bio-entrepreneurs. Udyojaka app is a step in this direction. This app will play the role of matchmaking bio-entrepreneurs, investors, and other stakeholders.