India's biotech sector needs patient capital and stronger commercial links, says expert

India's biotechnology ecosystem has expanded substantially in recent years, with more than 2,500 biotech startups now operating in the country, but the sector's next phase of growth will depend on patient capital and closer ties between research and commercialisation, according to Ajay Mahipal, co-founder and general partner at HealthKois.

Speaking at the Biotech Conclave 2026, presented by VIT Chennai in association with The Hindu, Mahipal said India had moved past its traditional role as a manufacturing base and was gradually establishing itself as a centre for biotech innovation. He noted that quality startups were now emerging and helping accelerate this transition.

Investor interest is building in areas such as cell and gene therapy, precision medicine, genomics, AI-enabled drug discovery, microbiome research and immunology-driven therapeutics. Funding, however, remains a significant hurdle for the sector.

Mahipal urged researchers to adopt an end-to-end approach that extends beyond the laboratory to intellectual property, commercialisation, adoption and monetisation. Patents in India have risen four-fold over the past decade, he said, stressing that researchers should protect their intellectual property and plan for commercialisation at an early stage.

For young biotech entrepreneurs, he identified three priorities for attracting investment: solving a clearly defined problem, targeting a sufficiently large market and having a clear strategy for generating revenue.

Collaboration among universities, hospitals, startups and industry is improving but remains a work in progress, he said. He encouraged young researchers to make use of the growing ecosystem, seek out good mentors and keep a commercial outlook while developing their ideas.