New Delhi, Sep 14 (IANS) Indian biotech startups stole the show at ‘Global Bio-India 2024’ by launching 11 products, showcasing the country’s emerging talent in biosciences.
The fourth edition of the event organised by the Department of Biotechnology (DBT) in the national capital concluded after showcasing India’s biotechnology potential. The theme highlighted the possibilities and opportunities in biotechnology innovation and bio-manufacturing and its impact on the bio-economy.
The event also saw the launch of calls for proposals under the I4 (Innovation for Industry) and PACE (Promoting Academic Collaboration and Entrepreneurship) programmes, reinforcing the government’s commitment to promote innovation.
Professor V Ramgopal Rao, Group Vice Chancellor, Birla Institute of Technology and Science (BITS) Pilani, stressed the need to develop organisational models similar to Biotechnology Industry Research Assistance Council (BIRAC) for other emerging technologies like nanotechnology and quantum technology.
He also stressed the importance of promoting deep tech startups led by PhDs and academic faculty, and urged institutions to encourage entrepreneurship.
The Ministry of Science and Technology said that this program demonstrated India’s potential in the biotechnology sector to the country and the world with evidence. It laid a roadmap for boosting biotechnology innovation and biomanufacturing in the country.
According to Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, India’s bio-economy has registered remarkable growth. It is projected to grow from $10 billion in 2014 to over $130 billion in 2024, and reach $300 billion by 2030.
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According to the minister, there are many reasons to invest in India. One of the reasons is that India accounts for 60 per cent of the world’s vaccine production, and ranks second in terms of the number of ADA-approved manufacturing plants outside the US.
The Minister said that investment opportunities are available in bio-pharma, bio-agriculture, bio-industrial, bio-energy, bio-services and med-tech.
–IANS
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