The Bio Valley Incubation Council (BVIC) set at the Andhra Pradesh MedTech Zone (AMTZ) has got shot in the arm with the receipt of first round of funding from the Department of Biotechnology of the Centre.
The council is the only dedicated innovation fraternity catering to convergence of technologies that are relevant to India. It is created to develop a vibrant sector-specific ecosystem.
According to the sources at AMTZ, the Bio Valley has created a platform to incubate emerging ideas in the field of wearable technologies, Internet of Medical Things (IoMT), nutra-tech, biotech and artificial intelligence.
This will augur well for integrated healthcare sector efficiently to address the issues.
Import substitution
Innovation being the key to achieve a breakthrough in the healthcare sector, creation of incubation avenues such as Bio Valley Incubation Council is expected to pave the way for a new healthcare sector powered by Indian innovations, reducing the dependency on the import of medical equipment thereby slashing the healthcare expenditure.
More jobs
“There was a long lasting need for such a facility. The BVIC which received the funding on Tuesday would lead in creation of high skilled jobs in the sector for the youth,” AMTZ Chief Executive Officer Jitendar Sharma said.
