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We are today ready to take the next leap. Today with over 500 Start ups and SME’ s, 100 Entrepreneurs being a part of this ecosystem, we have nearly 50 products in different stages of development and commercialization. Our target is scaling this 10 times in the next 5 years. We are confident that with the enthusiasm we see in the community we can do this.
The way forward
In Indian context, the above key elements could be implemented in collaboration and partnership with other ministries, departments, state governments and international agencies. Be it the basic research, technology transfer or the product development, it could be taken forward based on the lines of PPPs in Europe where the focus in more on translation research.
“ Quantum jump is what is required for this sector. India has got huge potential due to age bracket edge we have got. Investors should sometimes just think beyond profit / loss account. We have good infrastructure now in place at many places. Gap exists between R & D and companies grasping research output. We do have great institutions but we lack in cohesion. Need for clusters. We have to bridge the valley of death. Partnerships a major way out,” Mr Y S Chowdhary points out. And we wouldn’ t agree more.
Therefore, government must
Dr Renu Swarup, Managing Director, BIRAC launch four major missions in healthcare, food and nutrition, clean energy and education. Create a technology development and translation network across India with global partnerships. Ensure strategic and focused investment in building human
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capital by setting up a Life Sciences and Biotechnology Education Council. Besides that, the Israel’ s experience tells us that government must create an innovative capital fund.
Dr Ajoy Kumar, a political leader and head of one of the prominent clinical research organizations has a different perspective on the issue. He feels there should be a separate ministry for biotechnology in India.“ Since the DBT is a politically unimportant department, the attention is lesser comparatively. We need a separate biotechnology ministry with a dedicated minister to streamline the regulatory clearances which currently are being managed by multiple ministries.” The matter of course is debatable but doesn’ t seem to be even impossible given the way India has listed the sector on the host list of favorites.
Experts across the table agree that biotechnology and medical innovations have got huge potential in the longer run. Now, having made its foundation stronger, the Indian industry’ s next step is to scale up its business enterprises. India can achieve success by putting in
Conviction, determination, truthfulness and madness defines entrepreneurship. The government is doing everything within its power to give Indian entrepreneurs a platform to take their ideas to the world and vie with the best.
Dr Harsh Vardhan, Union Minister for Science and Technology
place right ingredients. The favorable environment to budding researchers and conversion of innovations into products can be the quickest of them all. While there are assurances and statistics, it goes without saying, the words in policy rooms have to translate into more action.
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BioVoiceNews | October 2016