from its inhibitions and industry from its apprehensions to collaborate . It cannot be a slow step by step process , it has to be an immediate transformation so that all the excellent research leads developed in our laboratories can move into the translational pipeline for product development and market launch .
It is imperative that we encourage our growing pipeline of innovators to focus on high levels of innovative technologies and products and not just low hanging products . If we have to make a global mark we need to identify niche areas and balance the low value , high volume products with high value products . Our appetite for taking risk must increase with greater thrust on high investment for high risk research . Our University research ecosystem has to move in the direction of high risk application oriented basic discovery research which brings a new understanding of the problems to provide solutions which impact . The focus has to shift from routine research to high end cutting edge discovery research , ensuring that specific industry need based priorities are taken into account .
Bright Outlook
Building credible innovation pipelines which successfully deliver products which reach the market and have great potential to respond to global challenges , clearly infuses confidence in investors . The Government plays an important role in derisking high risk innovations by being an early funder , reposing both confidence and trust in the innovation and our innovators . This helps kick start the entrepreneurial journey of the startups and as early leads show success and early milestones are achieved , more players feel
confident to join . We have seen many of our start ups supported by the Government , attract early stage and VC funds . The valuation of just our 100 top startups is nearly $ 1billion today . The FDI in biotech during 2021 touched $ 830 million , a 6 % increase over 2020 . With the right innovation ecosystem , a credible and robust regulatory pathway and the right market penetration policies — it should not be difficult to make India an Investment hub . We need to have out of box thinking to bring in a new culture of research and new models of research collaboration . New areas of emerging technologies and new investment partnership models are the way forward . Let us move out of our comfort zone . The country has responded to the call of Atmanirbhar Bharat- We have an ecosystem ready for a self-reliant India , ready to develop affordable Innovations for India and the world — We are now Future Ready , the target of $ 300b is now in sight .
Dr Renu Swarup is the former Secretary , Department of Biotechnology ( DBT ), Ministry of Science and Technology and former Chairperson , Biotechnology Industry Research Assistance Council ( BIRAC ). With a career spanning over three decades , Dr Swarup has actively contributed in the formulation of India ’ s biotechnology vision and strategy . A PhD in Genetics and Plant Breeding , Dr Swarup completed her Post Doctoral at The John Innes Centre , Norwich UK , and returned to India to take up the assignment of a Science Manager at DBT in 1989 . She has been a member of many prestigious task forces and national committees .
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BioVoiceNews | February 2023