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2014-02-11

Govt to set up biotechnology incubation centre in Bangalore

Bangalore will soon have its bioscience and medical technology incubation facility established at the Helix Park in Electronic City.

Bangalore will soon have its bioscience and medical technology incubation facility established at the Helix Park in Electronic City. Both the Karnataka and Union government will invest Rs 20 crore each in setting up the facility, located within the 56-acre dedicated biotechnology park.

 

"We already have a long list of people wanting to get in and we are in the process of setting up a committee constituting of government and industry, who will pick the right people," said Srivatsa Krishna, Karnataka's secretary of IT, biotechnology. He was speaking on the sidelines of the 14th annual Bangalore India Bio 2014 summit.

 

"The biotech facility will be an incubation cum accelerator because it's not just about taking an idea to a proof of concept stage; it's about how you convert an idea to a marketable product," said Kiran Mazumdar-Shaw, CMD, Biocon.

 

The 3-days brought together global leaders from the life sciences sector for a comprehensive overview of this rapidly changing industry envisaging India as a $100 billion Biotech Hub.

 

Conveying his pleasure on the successful completion of the 13th edition, I.S.N. Prasad, IAS, Principal Secretary, Dept. of Information Technology, Biotechnology and Science & Technology, Government of Karnataka said, “We are very pleased with the outcome of this edition of Bangalore INDIA BIO. A number of future initiatives are being looked at to promote sustainable collaboration between different stakeholders committed to improving quality of life from across India and globally creating opportunities and encouragement for young scientists and researchers to engage in “Biotech for a better tomorrow.”

 

Commenting on the event Dr. K. Vijay Raghavan, Secretary, Department of Biotechnology, Ministry of Science & Technology, Government of India, said, “Entrepreneurs in Biotech space, Government and the academia need to work together and Bangalore India Bio has a very invigorating environment to see that happen.”

 

The event is organized by the Department of Information Technology, Biotechnology and Science & Technology, Government of Karnataka, Vision Group on Biotechnology, MM Activ Sci-Tech Communications.

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